Axa’s Mark Stamper talks about the insurer's risk overhaul in Asia
French insurance group Axa sees Asia as an increasingly important source of new policyholders and incremental revenue. As a result, the insurer has decided to overhaul its approach to risk management, according to its regional chief risk officer and chief actuary Mark Stamper.
Mark Stamper joined Axa six years ago, originally focussing on product governance. In early 2008, he moved from a customer-focused to a financial role, becoming regional chief actuary, and temporarily regional chief investment officer, just before the crisis broke in earnest. Stamper describes the difficulties of 2008 as “unbelievable”, particularly due to the pressure to understand the problems with the business. “Some of it I wouldn’t want to repeat, but it was a good learning process,” says
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