Professional Indemnity

Compared against: Hiscox, Direct Line, Simply Business

Claims AXA makes that competitors do not (3)

Specific mention of data disclosure and intellectual property infringement as covered scenarios

Source: AXA

Unintentionally disclose sensitive information without your client's consent? You're covered for the cost of legal support and paying compensation. Cover if a claim is made against you for unintentionally using someone's intellectual property without permission.

Cover for injury caused by advice, design and specifications provided

Source: AXA

Injury caused to someone who isn't an employee, due to advice, design and specifications you've provided?

Cover for fraud or dishonesty by staff

Source: AXA

If you're faced with a civil liability claim made against your business because of fraud or dishonesty or staff professional indemnity insurance can help with legal and compensation costs.

Claims competitors make that AXA does not (6)

Explicit mention of cyber-attack and hacking exclusions with alternative cyber insurance offering

Source: Hiscox

An actual or possible instance of a cyber-attack, hacking, or social engineering communication. For such cases, we may be able to offer cyber and data insurance to help.

Real-life claims examples demonstrating successful claim outcomes

Source: Hiscox

For example, a software developer was accused of delivering poor-quality work. Their client claimed delays and defects caused significant financial loss. We helped prove our customer wasn't entirely at fault and settled the claim at a fraction of the amount originally sought.

Specific mention of retroactive dating concept and its implications

Source: Hiscox

A 'retroactive date' is usually the date from which you have held continuous cover. It marks the earliest date from which your work may be covered, and it may apply even if you have changed insurers since then.

Quantified claims performance metric (95% of settled claims paid within 24 hours)

Source: Simply Business

Claims paid in 24 hours For over 95% of settled claims

Specific quantified claims paid figure for the year

Source: Simply Business

£57 million in claims paid out in 2025

Document services and 24/7 legal helpline provided by ARAG

Source: Direct Line

Document services and 24/7 helpline provided by ARAG Legal Expenses Insurance Limited.

Areas where AXA's language is weaker (6)

Claims speed and performance metrics

AXA says:

— nothing on this topic —

Simply Business says:

Claims paid in 24 hours For over 95% of settled claims

Quantified annual claims paid

AXA says:

— nothing on this topic —

Simply Business says:

£57 million in claims paid out in 2025

Real-life claim examples demonstrating successful outcomes

AXA says:

— nothing on this topic —

Hiscox says:

For example, a software developer was accused of delivering poor-quality work. Their client claimed delays and defects caused significant financial loss. We helped prove our customer wasn't entirely at fault and settled the claim at a fraction of the amount originally sought.

Minimum cover levels offered

AXA says:

Professional indemnity policies range from £2 million to £5 million cover.

Direct Line says:

We offer cover from £100,000 all the way up to £5 million, for certain trades.

Speed of policy setup and document delivery

AXA says:

— nothing on this topic —

Simply Business says:

Get covered and all your documents the same day

Explanation of retroactive dating concept

AXA says:

— nothing on this topic —

Hiscox says:

A 'retroactive date' is usually the date from which you have held continuous cover.

Differentiation suggestions (6)

Publish quantified claims performance metrics (e.g., percentage of claims paid within specific timeframes and total annual claims paid) to match Simply Business's transparency on claims handling speed

Simply Business prominently features '95% of settled claims paid in 24 hours' and '£57 million in claims paid out in 2025'. AXA has no equivalent metrics, which weakens confidence in claims handling efficiency versus competitors

Develop and showcase 2-3 real-life claim case studies with specific outcomes (similar to Hiscox's software developer example) to demonstrate successful claim resolution

Hiscox provides concrete examples of how they've supported customers through claims, building trust. AXA's page lacks any real-world claim narratives, missing an opportunity to differentiate on claims support quality

Explicitly state the minimum cover level available (e.g., £100,000 or lower) and highlight this as an advantage for startups and sole traders

Direct Line offers £100,000 minimum cover; Simply Business offers £50,000. AXA only mentions £2-5 million range, potentially excluding price-sensitive micro-businesses from considering AXA

Add a section explaining retroactive dating, its importance, and how AXA handles it when customers switch insurers

Hiscox educates customers on retroactive dating as a key policy concept. AXA's silence on this leaves customers uninformed about a material aspect of coverage continuity

Highlight speed of policy issuance and document delivery (e.g., 'same-day documents' or 'quote to cover in X minutes') to compete with Simply Business's '7 minutes' and 'same day' messaging

Simply Business emphasizes speed ('Get tailored indemnity insurance in 7 minutes', 'Get covered and all your documents the same day'). AXA provides no equivalent speed messaging, appearing slower by comparison

Add explicit mention of cyber insurance as an alternative or complementary product for clients concerned about cyber-attacks and hacking

Hiscox explicitly states PI does not cover cyber-attacks but offers cyber insurance as an alternative. AXA is silent on this exclusion and alternative, missing a cross-sell opportunity and appearing less comprehensive