What is AXA's strategy to capture the market?

We do not have any plans to “capture” the market, but we are striving hard to increase our market share. As we our growing very fast we hope we can achieve our goal. Our parent company's ambition is to double the global revenues by 2012. As for the fast galloping Gulf region, it is our ambition to do better.
AXA Gulf's management is drawing up plans on how to attain our goals. Our dedicated staff, agent network, independent brokers and other intermediaries will try and execute the plans to the best of their abilities.

Which are the main areas of focus?

AXA has always been strong in the 'Personal Lines' section, and we will continue our focus on this section by bringing in more innovative products at competitive prices. Our products, such as Home Comfort, Travel Smart, Motor Perfect, Relocation Plus, Golf Mulligan, have been well received in the market . This does not mean we will ignore the 'Commercial Lines' part, which now has a significant volume in our portfolio. We sell commercial insurance through classes such as Group Life, Property, Marine, Engineering and Liability.
AXA has always prided itself in offering excellent service to its customers, but we feel we still have a lot to do to raise our standards and meet our clients' expectations. The main focus for us today is to offer good products at competitive prices with a fair and fast claims service-all with a smile.

What are the main sources of revenue?

Automobile insurance is still the major volume generator, but this line of business is not as profitable as it used to be. Pressure on rates, increased repair and spare parts cost and rising court awards has curtailed earnings.

What to you think of the competition?

Like the Oman summer, the competition is hot. That apart, the entry of new players and the competition among established players to retain their market share has created considerable downward pressure on rates. As such, the customers benefit from the competition. The easily available reinsurance support, though not necessarily from 'A' rated Reinsurers, is an added cause for worry.
Oman has always been a competitive market, so the current situation is not new. However, we hope for early price stability.

Where do you see your company in a year's time?

Very much at its current status, and rock solid. We set ourselves ambitious targets and then work hard to achieve them.

How much is your company committed to Corporate Social Responsibility (CSR)?

AXA is very conscious of its social and moral responsibilities and we achieve this through various means. For us, home is the first place to begin. We ensure better working conditions for our staff, a friendly place for our customers (including a free library and refreshments), no-smoking policy, and much more.
The management takes the government's Omanisation drive very seriously, and we have exceeded government-laid targets and minimum requirements. We provide training in various disciplines to most staff to make them better equipped in their professional work. In cooperation with recognized colleges and other bodies, we offer short-term training to students.

AXA is a regular contributor to Oman's various social and charitable organisations. One such project which we take pride in mentioning is the sponsorship of "Around Oman Expedition" by Mark Evans in his canoe. The event was extensively covered by the local press and even BBC. I have no doubt the publicity helped in promoting Oman as a leisure and adventure destination. The funds collected for the event were given to Oman National Cancer Awareness Group for its work in raising awareness about the disease.

Any plans for expanding your operations?

We are definitely looking at organic growth to achieve our targets, and it will include appointing more sales staff and agents and starting new branches. In the region (which includes Oman), we would also be looking for opportunities to partner with others.