AXA Enters Farm Insurance Market04 Jul 2018
Ireland’s largest general insurance company, AXA is entering the Farm insurance market in Ireland. AXA, has launched a range of new insurance products targeted at farmers and their families which will be available across the country through branches, farm advisors, brokers and online.
The new products will cover all standard farm insurance categories together with a range of items and services not typically available including insurance for additional business activities (such as guest houses) which many farm families have to undertake and insurance for volunteer labourers who help out with farm enterprises.
Pictured at the announcement today are Minister for Agriculture and Food, Michael Creed TD, Antoinette McDonald, Director of Direct Distribution and Customer Experience at AXA and Christy Doherty, Head of Farm at AXA.
Speaking today, Antoinette McDonald said that the company had been preparing for a move into the farm sector for over a year; “The farm insurance market has been dominated by a small number of companies for too long. AXA want to offer farmers new, innovative insurance products combined with excellent service, from a company they can trust.
We have opened a specialist Farm Centre in Athlone, with a dedicated agri-specialist telephony service. We will also assist customers through our nation-wide brokerage system, through our online service, and in our branch network.”
The Minister for Agriculture and Food, Michael Creed TD, welcomed the AXA announcement; “competition in the farm insurance market is a positive and AXA is to be congratulated for this move. I believe it will bring benefits in terms of price competitiveness and innovation to the marketplace which is good news for Irish farmers and their families.”
The Head of Farm at AXA, Christy Doherty said that the core AXA offering would be branded as AXA Smart Farmand would deliver farm friendly products supported by leading edge technology and service with tailored offers for different size farms.
Christy Doherty said: “The lack of competition in this market has meant a lack of innovation and value for farmers. We have completed in-depth research to understand what farmers want and we have built the AXA products to meet those needs. Specific innovations prompted by the research, include cover for the additional enterprises (e.g.: Guest Houses or Farmers Market) that many farm families undertake. In addition, there is cover for voluntary helpers supporting the farm, office contents included in the Farmhouse Contents cover and extensive cover for outbuildings and contents to include storms, theft and accidental cover.”
No claims discounts of up to 30% of the cost of the premium will be available for new customers.
Initial products will include Property Cover (for homes and Farm Property), Livestock Cover, Cover for Crops, Milk and Forestry, Cover for Agriculture Vehicles, Income Protection and Loss of Income Cover and Employers and Public Liability Cover with different offerings available depending on the size of the farm (less than / more than 80 acres).
Issued on behalf of AXA by Gordon MRM