The firm picked up the accolade following the development of its Constructive Ecosystem, a digital platform and network of innovative products and services focused on enhancing contractors’ risk management efforts and improving client profitability.
Gary Kaplan, president of AXA XL’s North America Construction unit, said: “The construction industry is inherently risky. As a leader in the construction insurance market, we knew we could do more to help our clients boost their technology adoption to reinforce their risk management efforts.
“The Construction Ecosystem evolved out of some blue-sky thinking and a lot of collaboration and hard work.”
He added: “We’ve seen some strong, early successes in how greater construction technology adoption is helping our clients reduce risk and avoid potential losses. We’re thrilled that Celent sees the value in the Construction Ecosystem too.”
Donald Light, Celent’s director, said, “For years, insurance technology firms have created ecosystems to extend their core system offerings.
“But this is different. AXA XL has led the way by giving its commercial policyholders access to a large ecosystem of pre-vetted technology solutions designed to reduce policyholders’ losses and to improve policyholders’ operations.”
He added: “This is the pioneering achievement of AXA XL’s Construction Ecosystem, and this is why it is Celent’s Model Insurer of the Year.”