Più Autonomia - AXA Long term care product Qorus-NTT DATA Innovation in Insurance Awards 2025

This product is designed to provide specific protection against the loss of independence in a more accessible and inclusive way. Recent market research has shown a growing concern among Italians regarding loss of autonomy, especially for mature adults. However, the percentage of those with LTC insurance remains low, largely due to high prices. The recent economic challenges, including inflation and labor market instability, have altered spending habits and lifestyles, significantly affecting insurance uptake. Thus, AXA aims to meet the need for protection against loss of independence with "Più Autonomia," a simple and accessible solution. By listening to customers and AXA's sales network, a new product concept has been developed targeting individuals aged 50 to 70, with a high interest in LTC products, according to market research. This product offers reduced benefits compared to traditional LTC policies while ensuring valuable coverage for a more secure future. The objectives behind this initiative are to: * Provide a competitively priced product with limited-duration benefits (not lifelong) for those needing coverage against loss of independence. * Explore a customer segment that is currently underinsured due to cost but shows high potential for engagement. * Enhance the product range by introducing a new complementary offering. At launch, "Più Autonomia" is positioned as a distinctive solution in the market. Its creation involved multiple company departments, including the L&S offering and actuarial team, marketing and digital, distribution, compliance, and IT & operations. The sales network has received the product very positively, as it broadens the commercial proposition and it fits their customer target. Initial commercial results are aligned with the expectations.