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Axa XL Risk Consulting, a unit of Axa SA
When Corinne Vitrac sees progress, she also sees risk.
“All these new technologies, we have to better understand risk, to be more efficient — we have to understand the risk,” she said.
Technology is a driver of new risk, she says.
“Many, many new risks continue appearing linked to these new technologies,” she said. “Cyber is a good example,” as are the transportation sector and the “new sharing economy,” she said.
These risks, however, must not be a deterrent to progress, she said.
“We need to be fully digital,” Ms. Vitrac said. “We are obliged to use the new technology, and we are obliged to understand the risks which come with it.”
Ms. Vitrac graduated from business school in Paris, earned a law degree and joined Axa SA in 1994 as an underwriter, rising through the company to became CEO of Axa Risk Consulting in April 2018 and then CEO of Axa XL Risk Consulting after the insurer bought XL Group Ltd. later that year.
“I entered this industry and never left it,” she said.
Her training as a lawyer helps with the regulatory and compliance aspects of her role, but what she likes most is the variety and opportunity to continually learn.
“These two elements are very important,” she said. “I think it’s absolutely great to have an opportunity to touch so many different areas of industry and the economy in your work,” and she said she does not regret choosing insurance over her initial ambition to become a judge.
She is a proponent of diversity.
“We must have a good balance and good gender diversity,” Ms. Vitrac said, adding that it is “extremely important” to continue to reinforce that message.
“Corinne is a clear strategic thinker with an exceptional focus on execution. She is bold in her decisions and results-focused,” said Jason Harris, chief executive for global property/casualty XL Catlin with Axa XL, a division of Axa SA. “In addition to leading the conventional risk consultancy, Corrine is also leading an intricate integration and change management program.”
The 2019 Business Insurance Women to Watch Awards showcase another outstanding group of female executives in the insurance and risk management sector.