What was the situation?
AXA Group needed to prove that its digital and big-data assets could ship new insurance products fast and put blockchain into real insurance processes, without the long delivery cycles its five business units were used to.
What did ARCHITEKT do?
As Group CTO Digital and Big Data, Erwan Deschamps built and industrialized a software and digital factory for the group's digital assets and deployed the architecture for Fizzy, the first blockchain multi-parametric insurance application at AXA, a parametric flight-delay product that pays out automatically, running the effort across 250 people in five business units.
What changed, measurably?
The blockchain parametric flight-delay insurance product went from MVP to go-to-market in 2.5 months and sold more than 200 policies, while the digital factory cut product-team delivery lead time by 40% and introduced blockchain into the group's insurance processes.
AXA’s first blockchain parametric insurance product, Fizzy, did not wait on a long release cycle, so it reached market in 2.5 months and booked over 200 policies off an industrialized digital factory.
How does a first-of-its-kind product ship in 2.5 months?
The product ran on an automated, secured digital factory built for the group’s digital assets rather than a bespoke one-off pipeline, so parametric insurance on blockchain went from MVP to go-to-market in 2.5 months, which is the same factory discipline that cut delivery lead time across product teams by 40%.
What does blockchain change in an insurance process?
Fizzy paid a flight-delay claim automatically against on-chain flight data instead of a manual claims cycle, so blockchain entered AXA’s insurance processes as a working parametric product rather than a proof of concept, delivered across 250 people in five business units.
- What was Fizzy?
- Fizzy was the first blockchain multi-parametric insurance application at AXA, a parametric flight-delay product that reached go-to-market in 2.5 months and sold more than 200 policies.
- How did AXA ship a first-of-its-kind product so quickly?
- It ran on an industrialized software and digital factory built for the group's digital assets, the same factory discipline that cut delivery lead time across product teams by 40%.