Latest news with #VinceTizzio
Yahoo
3 days ago
- Business
- Yahoo
How insurance companies are leveraging AI in 'critical ways'
AXIS Capital (AXS) CEO and president, Vince Tizzio, joins Market Domination Overtime with Josh Lipton and Julie Hyman to discuss what demand looks like for different types of insurance policies, his outlook for the insurance sector, and how artificial intelligence (AI) is being used to drive growth. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here. Where are you seeing the most demand in terms of categories, you know, what are being seen as the biggest risks that people need to ensure against? Yeah, broadly, we're we're seeing demand in the first quarter. We've reported some 24% improvement in submissions. That was broad-based, but more specifically, our our energy business, our cyber business, our professional lines businesses, they're all thriving and fairly robust in the dimension of demand. Talk more about cyber's interesting, Vince. Talk about that product and and just the trends there you're seeing, the book of business, what's it look like? Yeah. So this is a business that Axis maintains a a strong market share, but the phenomenon that I would describe in in the cyber customer space. First, the sizing of it's about $12 to $15 billion. It's a global product that's sought by all sizes of companies. But what we're seeing is the proliferation of loss activity under ransomware matters. Uh, we're seeing continued privacy privacy matter losses that are arising, and we're seeing very specific approaches by underwriters in attracting the kind of customers that they wish to retain and uh, seek. And are you seeing more of those policies be triggered because of increased cyber attacks? You're certainly seeing frequency uh, on the rise from a variety of sources of claims and it's affecting different sized companies in different orders of magnitude, but generally, frequency is up. Now Vince, one big trend we talk a lot about in the show, and and it excites investors a lot is the mega trend of AI. I'm curious how how you're trying to leverage that technology and what you see more broadly in the industry as well. Yeah, in in critical ways. So first, we're looking at the use of AI inside our organization. How do we make it more efficient, more effective and help our underwriters ultimately in risk selection? Secondly, our intermediaries. Today, we we transact business in very traditional ways, starting from how we convey paper to one another, right, electronically. Third, we're looking at it from the customer lens and we're looking at it in the development of further customized solutions. How can we leverage all of the analytics that we have to bring more specific intel solutions? And then finally, ultimately, the culmination of this should translate to continued stability and resilience in our profit and loss statements. Uh, when you look at the big risks that are facing companies right now, certainly tariffs would be on the list, at least for some of them. Is that something that companies are are taking out policies to to ensure against? Well, the impact of tariffs is felt through the provision of of many of our products. We we've spoken about uh, the impact to access as being one. We look at loss cost trends and the impact of tariffs on how we're pricing our products. Secondly, a sustained impact of trade relations would ultimately impact growth in certain of the lines of business that we compete in. And so we have an observant eye, it's a fairly uncertain uh, outcome as you know, as of now, but we will continue to meet the needs of our customers. Sign in to access your portfolio
Yahoo
3 days ago
- Business
- Yahoo
How insurance companies are leveraging AI in 'critical ways'
AXIS Capital (AXS) CEO and president, Vince Tizzio, joins Market Domination Overtime with Josh Lipton and Julie Hyman to discuss what demand looks like for different types of insurance policies, his outlook for the insurance sector, and how artificial intelligence (AI) is being used to drive growth. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
08-05-2025
- Business
- Business Wire
Mental Health Awareness Month: AXIS/Harris Poll Survey Finds Nearly 9 in 10 (88%) Insurance Employees Acknowledge Widespread Stress and Anxiety in the Industry
PEMBROKE, Bermuda--(BUSINESS WIRE)--Timed to the start of Mental Health Awareness Month, AXIS Capital Holdings Limited ('AXIS Capital' or the 'Company') (NYSE: AXS) partnered with The Harris Poll to survey the state of mental health within the insurance profession. The research findings revealed a number of trends pointing to widespread and rising stress and anxiety; a desire for better mental health support; and a belief that insurance trails other industries in prioritizing mental health initiatives. The survey, conducted mid-April 2025, was fielded during a time when insurance professionals are facing tremendous change in the risk environment brought on by factors such as economic volatility, rising geopolitical tensions, extreme weather, cyber threats, and technology disruption including artificial intelligence (AI). The research findings are based on online interviews with 405 full-time insurance professionals spanning the United States (US) (305 participants) and United Kingdom (UK) (100 participants). 'As we are all experiencing across both our professional and personal lives, we're living in a period of transcendent change and transformation. The findings from the AXIS/Harris Poll research show that this is taking a toll on insurance and risk management professionals,' says AXIS President & CEO Vince Tizzio. 'Prioritizing mental health is a crucial mandate for business leaders, and it begins with acknowledging and addressing the mental health challenges our teams are experiencing so that we can support and enable a resilient and productive workforce.' The findings from the AXIS/Harris Poll research include: Mental Health Among Insurance Employees: A Growing Crisis Nearly 9 in 10 (88%) insurance employees acknowledge widespread stress and anxiety in the industry About 8 in 10 (77%) insurance employees mention seeking mental health support for themselves in the past year Younger employees (82% among 18-34; 81% among 35-44) did so significantly more than older (45+) employees (64%) Stress levels are rising in sync with workload, particularly in the UK, where 82% of employees report increased stress and anxiety levels over the past 12 months, compared to 60% in the US. Correspondingly, 84% of UK employees and 69% of US employees have experienced an increase in workload over the past year Employee Mental Health Resources Exist but Often Fall Short 8 in 10 (80%) feel insurance trails other industries in prioritizing mental health initiatives and 76% feel these issues are not talked about enough (87% in the UK, 72% in the US) While employees are generally satisfied with their work model (88%), work-life balance (75%), and ability to focus at work (82%), they are less satisfied with their employer's mental health resources (64%) leaving them often underutilized or undervalued The resources found to be most helpful are flexible work arrangements (53%), mental health days (45%), and financial wellness programs (43%) Nearly half (46%) of UK insurance employees say they are not able to manage their workplace stress/anxiety with their employer-provided benefits (compared to only 22% of US employees) "The data clearly shows that our colleagues are seeking empathy, open communication, and benefits regarding mental health needs in the workplace," says Lisa Pariot, AXIS Chief People Officer. "At AXIS, we recognize this and strive to provide the right resources and support for our teammates – not just through our benefits but also in our culture.' In 2024, AXIS announced the scale-up of a broader, year-round internal and external program to promote mental health and wellbeing within the insurance profession through advocacy, education, and employee volunteering. This May, timed to Mental Health Awareness Month, AXIS unveiled enhancements to its internal programming and resources, including a Wellbeing/Mental Health Day as paid time off for employees, and an expansion of educational resources, among other initiatives. About the Study This study was conducted by The Harris Poll on behalf of AXIS Capital, online, April 15-23, 2025, among 305 US and 100 UK full-time insurance employees, ages 18 and over. About AXIS Capital AXIS Capital, through its operating subsidiaries, is a global specialty underwriter and provider of insurance and reinsurance solutions. The Company has shareholders' equity of $5.9 billion at March 31, 2025, and locations in Bermuda, the United States, Europe, Singapore and Canada. Its operating subsidiaries have been assigned a financial strength rating of "A+" ("Strong") by Standard & Poor's and "A" ("Excellent") by A.M. Best. For more information about AXIS Capital, visit our website at
Yahoo
02-04-2025
- Business
- Yahoo
AXIS Capital to Release First Quarter Financial Results on April 30, 2025
PEMBROKE, Bermuda, April 02, 2025--(BUSINESS WIRE)--AXIS Capital Holdings Limited ("AXIS Capital" or the "Company") (NYSE: AXS) today announced that it expects to release financial results for the first quarter ended March 31, 2025 on Wednesday, April 30, 2025 after the close of the financial markets. Vince Tizzio, President and Chief Executive Officer, and Peter Vogt, Chief Financial Officer, will host an investor teleconference, including a question and answer period, on Thursday, May 1, 2025 at 8:30 a.m. ET to discuss the first quarter results as well as related matters. The teleconference can be accessed by dialing 1-877-883-0383 (U.S. callers), 1-866-605-3850 (Canada callers), or 1-412-902-6506 (international callers), and entering the passcode 7972919 approximately 10 minutes in advance of the call. A live, listen-only webcast of the call will also be available via the Investor Information section of the Company's website at A replay of the teleconference will be available for one week by dialing 1-877-344-7529 (U.S. callers), 1-855-669-9658 (Canada callers), or 1-412-317-0088 (international callers), and entering the passcode 8595489. The webcast will be archived in the Investor Information section of the Company's website. About AXIS Capital AXIS Capital, through its operating subsidiaries, is a global specialty underwriter and provider of insurance and reinsurance solutions. The Company has shareholders' equity of $6.1 billion at December 31, 2024, and locations in Bermuda, the United States, Europe, Singapore, and Canada. Its operating subsidiaries have been assigned a financial strength rating of "A+" ("Strong") by Standard & Poor's and "A" ("Excellent") by A.M. Best. For more information about AXIS Capital, visit our website at Follow AXIS Capital on LinkedIn and X Corp. View source version on Contacts Investor Contact Cliff GallantAXIS Capital Holdings Limitedinvestorrelations@ (415) 262-6843 Media Contact Nichola LiboroAXIS Capital Holdings (917) 705-4579 Sign in to access your portfolio
