AXA Launches Climate Adaptation Support for SMEs

AXA Insurance dac is moving further into climate-risk advisory services with the launch of a free SME training programme aimed at helping businesses prepare for rising exposure to flooding and extreme weather.

The insurer partnered with AXA Climate, a climate-focused subsidiary of the global AXA Group, to develop online modules focused on climate adaptation and resilience planning for small and medium sized enterprises as part of a wider push towards prevention and long-term risk management.

Climate has remained among the leading concerns identified in AXA Future Risks research for several consecutive years, with climate change continuing to rank highly alongside geopolitical instability and cybersecurity threats.

Prevention moves higher on the agenda

AXA said SMEs often face difficulties assessing how climate related risks could affect long-term viability of their operations, premises, products and supply chains. The programme is intended to help businesses begin evaluating those exposures and consider adaptation planning.

“For SMEs, it can be challenging to look ahead and assess what increasing extreme weather risks may mean for their businesses in year to come,” said John Caird, Intermediary & Commercial Director at AXA Insurance dac. “By working with AXA Climate, we’ve developed a programme that gives them a launchpad to begin to explore building an effective adaptation strategy to identify and address their exposure to extreme weather risks.

“Businesses need the right framework to start thinking strategically about resilience and long-term viability in a rapidly changing world,” Caird added. “Our aim is to share AXA’s risk management expertise is a way that helps SMEs make informed decisions about their future.”

The programme is intended to complement its traditional claims role, with modules focused on resilience planning and claims-related risks affecting customers and supply chains.

Training designed for SMEs

AXA Climate launched AXA Climate school to 2021 to provide climate and environmental adaptation training across AXA’s workforce globally. A shorter version was introduced last year for brokers in Ireland.

Several modules have now been adapted specifically for SMEs, with content focused on understanding climate exposures and improving resilience planning.

“It’s a free, bitesize resource that’s easy to implement. It helps SMEs focus on practical steps they can take that will have a positive impact on their own businesses, customer and wider society against a backdrop of rising costs and an increasingly difficult operating environment for SMEs,” Caird said.

“As an insurer we do more than just settle claims. We want to create partnerships with our customers that offer multiple benefits for their businesses, and this provides practical solutions to complex problems that can be implemented without huge expense,” he added.

For more information about AXA’s climate adaptation support for SMEs, get in touch with your Broker Development Manager.

AXA Insurance DAC is regulated by the Central Bank of Ireland.