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October 1 - 3, 2000, The Westin Providence, Providence, R.I.
Axa Financial Prepares to Roll Out New Technology
By Meg Green, Meg.Green@ambest.com
Axa Financial is preparing to roll out a new Internet-based system designed to save its 7,500 financial advisers time and money, said William M. Saubert, senior vice president, e-commerce, Axa Client Solutions.
For example, instead of paper-based financial planning--which must be keyed in by hand--everything will be online.
"We estimate 20% of our associates' time is spent on paperwork,'' Saubert said. "For every 1% improvement in productivity, we save $50 million."
Making intermediaries more efficient is the key to the program. "That's where the big savings are. It's a giveaway to customers," Saubert said.
Paris-based Axa is spending half of its total $2 billion technology budget on e-commerce this year, said Saubert, who has been responsible for all of Axa Client Solution's e-commerce initiatives since joining Axa in March.
Saubert spoke Monday at "E-Fusion: Where Insurance and Technology Converge," a conference sponsored by A.M. Best Co. held Oct. 1-3 in Providence, R.I. Full coverage of the event is available online at http://www.ambest.com/e-fusion.html. | 
