The firm looks to capitalise on global demand for employee benefits programmes from multinationals
MAXIS Global Benefits Network (GBN), the international joint venture between MetLife and AXA, has established headquarters in London as the firm looks to capitalise on global demand for employee benefits programmes from multinationals. The London office was officially opened on 7 February.
The new base is part of a major investment programme by MAXIS GBN in staff and technology and will be supported by refreshed branding and marketing. Building on the firm’s experience, MAXIS GBN is expanding its range of solutions as it looks to offer the latest developments in pooling and global programmes, including innovative approaches to pricing and data management.
MAXIS GBN was established by MetLife and AXA in 1998 and has grown into one of the world’s leading international employee benefits networks. Its 135 member insurance firms are based in 110 markets and serve around 750 multinational clients.
The firm has developed a new IT platform, BRIDGE, which will allow it to provide the pricing and data analytics that its members and their clients are increasingly demanding. The technology is expected to make MAXIS GBN a market leader in using data excellence to drive transparency, create detailed client reporting and help identify cost drivers, efficiencies and new opportunities. MAXIS will lead the market as the only network to offer a system with the ISO27001 certificate for data security.
Mauro Dugulin, CEO of MAXIS Global Benefits Network, said: “We are delighted to announce these significant investments in MAXIS GBN, including our new London office. It is important to be at the centre of the insurance world and this means being in London.
“MAXIS GBN will be centrally managed and this enables us to offer better control, greater consistency and the opportunity to review reinsurance pricing and underwriting conditions from a truly global perspective, all for the benefit of our members and their clients.
“Diminishing returns on multinational pooling, increasing interest in the use of captives, a greater thirst for information and rising healthcare costs make for a challenging environment for international benefits & compensation and risk managers. The new MAXIS GBN has been developed to meet these challenges and offer technology led solutions to help drive employee benefit programmes forward.”
In an indication of the success of the network, MAXIS GBN won 50 new global clients in 2016. The firm itself has doubled the number of employees over the past six months, with plans to carry on expanding throughout 2017, primarily in London.
Looking forward, MAXIS GBN is targeting 20% growth in overall volume of premiums in 2017. It will look to increase its global market share, particularly among existing clients, as well as build on its relationships with employee benefit consultants. Geographically, primary target markets for growth include the US, France, Germany, the UK, Netherlands and Switzerland.
Dugulin concluded: “MAXIS GBN is differentiated in the market through the strength of our local networks, the quality of our highly experienced sales teams and our unique membership-based approach.
“We understand the importance of employee benefits to our multinational end clients and how such benefits can be a major differentiator for them in retaining and attracting the best talent. We are seeing strong demand for new ideas and innovation in employee benefits. We will look to focus on key issues such as staff health and wellbeing and help foster the world-class employee benefit packages that corporations need as well as taking advantage of the initiatives that both AXA and MetLife are developing both centrally and locally.”
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About MAXIS GBN
MAXIS Global Benefits Network (MAXIS GBN), co-founded by MetLife and AXA in 1998 is one of the leading international employee benefits networks providing global service capabilities and delivering world-class employee benefits perspectives and solutions to clients in 110 markets around the world. In February 2016, MetLife and AXA further strengthened their relationship by combining all of its MAXIS GBN existing operations under a joint venture company. This transformation helps leverage the existing strength of the network and its two parent companies while further enhancing the client experience, focusing on product innovation and providing data analytics.