AXA XL Target Market Statement for Insurance Products

This document is a Target Market Statement for AXA XL Insurance Company UK Limited, detailing the identified target market and distribution strategy for its insurance products. It provides information on the Group Personal Accident and Business Travel product, which is designed for small to medium-sized businesses with fewer than 250 employees, covering compensatory benefits for accidents and reimbursement for travel-related expenses. The document outlines the characteristics of the target market, including customer vulnerabilities, and specifies who the product is not suitable for, such as individuals or families. It also describes the product's distribution methods, which include brokers and a Business-to-Business online platform. Additionally, it emphasizes the importance of ensuring fair value for customers by avoiding duplicate coverage and maintaining proportional fees. The governance process for product design and review is also mentioned, ensuring compliance with FCA regulations.