’We are confident that the right cover is available via our other great products,’ says spokesperson
Axa has revealed that it scrapped two of its home offerings in the run up to the Consumer Duty deadline as it wanted to “simplify” its products.
Last week (27 July 2023), the insurer said in a message to brokers that it would no longer offer Axa First and Axa Residential Let policies following a review of its home products.
An Axa spokesperson told Insurance Times that the aim of the move was to “simplify our products and provide the right cover for our customers”.
“We are confident that the right cover is available via our other great products – Axa Extra, Axa Advanced and Axa Buy to Let – and if not then we will work with our broker partners to accommodate the business directly,” they added.
Deadline
Axa carried out a review of its products as part of its retail intermediary home strategy.
Read: Axa appoints Foley as new UK and Ireland chief executive
Read: Axa backs Winslow plea as it calls on government to further protect properties
Explore more insurer-related content here or discover other news stories here
The insurer said that it would no longer offer the Axa First and Axa Residential Let policies with a start or renewal date from 1 September 2023.
“For policies with a start date on or after 1 September 2023, the products will no longer be available to sell and will not show on the panel,” it said in a message to brokers.
“You’ll start to receive renewal decline letters for policies with renewal dates on or after 1 September.”
No comments yet