<ul data-eligibleForWebStory="true"><li>Global insurance giant AXA is utilizing artificial intelligence, internet of things, and digital twins to manage escalating insurance costs due to increasing frequency and severity of natural disasters.</li><li>The CEO of AXA's Digital Commercial Platform, Pierre du Rostu, highlighted the substantial financial impact of recent disasters and the growing gap between covered and uncovered risks in the insurance industry.</li><li>AXA aims to address this challenge by investing in technologies like geospatial analytics, IoT applications, and digital twins to enhance risk detection, predictive maintenance, and crisis management.</li><li>While technology plays a vital role, du Rostu emphasized the importance of combining digital tools with human expertise and fostering collaboration across industries to effectively manage and reduce insurance losses and downtimes.</li></ul>

AXA Bets on Tech to Manage Ballooning Insurance Costs

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