Axa Australia's newly elected group insurance head Robert Bergin will focus on building alternative distribution channels instead of third party sales.
"Third party distribution is no longer a growth story, it's a mature market. Its time in the sun has passed," Bergin told InvestorDaily.
The life office will focus on from human resources consultants, brokers and employers, as well as strengthening distribution relationships through its master trust network.
Axa has pledged to invest more than $30 million over the next three years to boost its growth in the financial protection market.
Bergin said he was looking forward to using capital expenditure to leverage Axa products, service and relationships to build its market share. Axa currently holds a top three position.
Bergin, formerly ING Australia employer super sales head, has 21 years' industry experience.
Prior to ING, Bergin was Asgard business superannuation national distribution manager.
"Axa has a clear understanding of where the business is in the financial protection space and [is] looking for people to drive the business along those growth lines," he said.
The hire follows the promotion of previous group insurance head Stephen Rosengren to Axa individual life head.
"We believe someone with [Bergin's] skills and extensive networks in the industry will help us grow our Group business even further," Axa financial protection general manager Michael Rogers said.
