Life Insurance -
AXA announces new insurance pricing - 29/02/2008
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Home insurance and life insurance provider AXA has announced changes to its pricing structure.
Extra data on customer mortality rates is included in the raft of new guidance, which the insurance provider will use to provide more accurately-targeted premiums.
The firm also said that around 60 per cent of its re-priced products were revised downwards, making them cheaper for customers.
Iain Mallon, director of protection marketing at AXA, said: "We have strengthened our protection offering through innovative underwriting over the past four years: the higher levels of disclosure we are getting from our customers allow us to understand our risk profile more precisely."
He added: "Consumers have differing lifestyles and wealth and as people are taking out larger mortgages, the amount of cover they request is also rising rapidly."
Level Life Cover, Decreasing Life Cover and its Guaranteed life insurance suite have all been revised by AXA.
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