Animal Health Focus JULY 2018 AXA enters farm insurance market AXA believe it’s time for a new approach to farm insurance. The farm insurance market has been dominated by a small number of companies for too long. AXA want to o er farmers new, innovative insurance products, combined with excellent service, from a company they can trust. in excess of anything farmers will have had previously. Where the farm is over 80 acres, we recommend our Smart Farm Choices product, which offers a far more comprehensive insurance product for larger farms than is available elsewhere.” Easy access online Christy Doherty, Head of Farm at AXA Insurance, says: “We already insure the home, cars and jeeps of many farmers and we want to extend our product range with tailor-made innovative farm policies. We now have a new Farm Centre in Athlone, with a dedicated agri-specialist telephony service. We also assist customers through our nation-wide brokerage system, through Ireland’s first online farm service, and through our branch network.” A new answer for today’s farmers Without doubt, the most innovative aspect of AXA’s entrance into the farm insurance market is the development of their online service, where farmers who select AXA Smart Farm Easy can get a quote online. This is the first time a farm insurer in Ireland has offered such an option. “We have a user-friendly website that delivers on the farmers insurance requirements,” says Mr Doherty. “Farmers will be able to get a quote quickly and easily by answering a few straightforward questions, no insurance survey required. To ensure the farmer has what he or she requires, our dedicated agri-specialists in Athlone will follow up with a phone call and provide any support that is needed.” More cover for farmers So, why is AXA entering the farm insurance market now? Mr Doherty explains: “The lack of competition in this market has meant a lack of innovation and value for farmers. We did in-depth research to understand what farmers want and built the AXA products to meet those needs. We know that today’s farmers are always seeking out new ways to prosper while building a future that will allow the next generation to thrive. Our ambition is to offer a more comprehensive farm insurance product than is available at present.” A full insurance roll-out 26 AXA Smart Farm offers two comprehensive insurance options: AXA Smart Farm Easy and AXA Smart Farm Choices. Mr Doherty explains the options: “If a farmer has less than 80 acres, we recommend they opt for the Smart Farm Easy product, which offers insurance cover AXA Smart Farm was researched with farmers to understand their needs and, therefore, offers more cover than any other insurer in the market, including hospitalisation cover as a part of the complete insurance package. “If a farmer is in hospital with an illness, they can select a capital benefit to cover that,” Doherty says. “We have also brought in a new discount system, which isn’t available anywhere else, called the Low Claims Discount. This rewards farmers for having no claims or a low claims record. If a farmer hasn’t had a claim in the previous three years, they will enjoy a 30 percent premium discount. If they have had one claim in the previous three years, they’ll receive a 20 percent discount, and if they have had two claims in three years, the farmer qualifies for a 10 percent discount.” Mr Doherty continued: “We’re offering Basic Payment Scheme Cover as an option for our customers. Special-