📋 Tender Overview
AXA XLs North America Construction insurance business is building tailored insurance programs and services for construction projects that qualify as a Highly Protected Project HPP because of their implementation of technologies designed to reduce project risk.According to Gary Kaplan president of AXA XLs North America Construction insurance business In commercial property insurance facilities that incorporate added risk and safety measures such as sprinkler systems are considered Highly Protected Risk and can earn more favorable insurance rates and terms. With greater adoption of technology on construction jobsites were seeing the same opportunity to extend more competitive insurance coverage and capacity for projects that are taking action to reduce risks.Construction projects eligible to attain AXA XLs HPP status and specialized insurance include Health Care Commercial Office Higher Education and ManufacturingProcessing construction projects valued at USD 200 million or more. The project must show implementation of technology that can as an example Mitigate water damage Sensors are available to quickly identify leaks and wastes in real time send alerts and automatically shut off the source of identified leaks. Detect unhealthy or unsafe environmental conditions Sensors are helping contractors monitor jobsite conditions and provide real time alerts when conditions go outside normal range such as temperature humidity or dustairborne particulate.Monitor onsite safety Wearable technology is helping contractors detect falls report injuries and sound alarms in case of emergency Aid in subcontractor prequalification Available software helps contractors review and benchmark subs while providing risk mitigation recommendationsSupport project scheduling Perform analysis on the quality of a project scheduleTo help clients achieve HPP status AXA XLs Construction Risk Engineers have curated a variety of construction technologies to help contractors find solutions that fit their business needs. Through AXA XLs Construction Ecosystem contractors and project owners can also access an online platform that connects in-use technology solutions to provide a comprehensive project risk snapshot. AXA XLs North America Construction insurance business includes dedicated construction underwriters providing primary and excess casualty professional liability builders risk wrap ups subcontractor default and pollution insurance. Additionally AXA XLs North America Construction team provides claims expertise as well as risk engineering services to support our clients loss prevention and safety efforts.
