AXA UK Retail launches Moja, a digital-only insurance

Moja, whose tagline ‘simpler, fairer, and always there’ is the new brand developed internally by Axa Retail. It will primarily offer a motor insurance product that is 100% accessible and can be managed online. Its digital format is intended to meet new expectations and to pave the way for maximum flexibility in the contract management.

FACTS

• Moja is the first brand developed in-house by Axa Retail. It will initially focus on a digital-only car insurance offer, optimised for  smartphones and tablets.

• The new brand promises to bring simplicity and transparency to its future customers, notably by avoiding the jargon of the insurance market to present its offers.

• Moja is also banking on a high degree of flexibility with a digital service that allows customers to :

  • modify your insurance contract online,

  • make claims 24 hours a day, 7 days a week,

  • add options to its cover at any time (insurance for personal effects, audio equipment, GPS, etc.).

• In addition to its dedicated website, the group will also offer the service directly to users of the "Compare the Market" comparison website.

• Moja will be deployed in the course of the year on other comparison sites. In addition to car insurance, the service will also offer other types of cover from 2023.

CHALLENGES

• Digitalising its offer: Axa UK is making a digital shift with its Moja offer. This positioning should enable the group to carry out its digital transformation.

• Combining flexibility and budget: By offering its policyholders the possibility of modifying their contract at any time, Moja opens the way to ultra-modular cover, according to their needs, but also their budget. This promise is all the more interesting in these inflationary times.

• Opening up a vast distribution network: In addition to its website, Moja will be distributed via insurance comparison sites. A way for AXA to position its offer further up the value chain. A strategy adopted by fintechs and also used by the Allianz group with Check24 in Germany. Relying on digital platforms to distribute its offers is a way of distributing lower-cost products directly while opening up a vast potential for prospecting.

MARKET PERSPECTIVE

• FinTech and InsurTech have changed market standards with a fully mobile and disruptive offer, pushing traditional players to make their own digital transformation. Today, the insurance sector is still intensifying its digitalisation to adapt to new market standards.

• And the emergence of new digital worlds is helping to reinforce this trend. Thus, if the future of Metaverse is not yet clear, the first players are positioning themselves upstream to be pioneers and anticipate a future competitive race.