How We Do It
Our History
What We Do

Risk Management

Axxima’s success depends on the quality and commitment of its professional staff and the relationships that the principals of Axxima have developed with clients and service providers. We believe relationships are critical, and we’re firm believers that business is personal. Axxima’s hallmark is our ability to deliver Creativity, Clarity, and Control.

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Creativity

Our creativity can be found throughout our work, as we routinely challenge the established way of thinking in insurance and risk management and implement new structures and ideas.

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Clarity

We are able to communicate and translate difficult concepts such as actuarial consulting or insurance management into easy-to-understand conclusions and recommendations for our clients.

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Control

Our focus on providing clients with control over their risk, through self-insurance vehicles or by levelling the playing field with their insurer partners when risk transfer is the better option, makes us stand apart in the industry.

Axxima’s philosophy is to form long-term partnerships built on added-value services, trust and timely delivery. We do this by helping our clients fully grasp the principles and operation of insurance management and actuarial services. With us, clients have complete access to in-depth expertise from our principals and from some of the best actuaries in Canada. At the end of the day, we’re successful when you are.

1980s

When It All Began

Axxima’s story begins in the late 1980s when a liability insurance crisis prompted the formation of many self-insurance vehicles. One of the key players at that time was a global insurance consulting firm whose staff of actuaries and consultants helped not only start these new insurance entities, but also operate and manage them.

1995

Axxima’s Genesis

Three of Axxima’s founding principals worked together at that firm, and moved together to Dion, Durrell + Associates Inc. in 1995 when it was formed.

Dion, Durrell + Associates Inc. continued providing self-insurance management, actuarial and strategic consulting services for 18 years. During that time, two more of Axxima’s founding partners joined the group.

2013

Axxima Was Born

Then, in 2013, Axxima’s founding partners carried out a management buy-out of the business they managed, specifically, the insurance management and casualty actuarial practice. Axxima has been providing actuarial and insurance consulting services to clients large and small ever since.

For some clients, we operate as a virtual insurer, delivering the full array of services required on a turnkey basis, under the direction of the clients’ board/committee structure. For other clients who have an infrastructure or other outsourced arrangements in place, we provide services (e.g., actuarial services, insurance management, brokerage or accounting) on an unbundled basis.

Axxima’s broad service offering gives us the depth to assist clients in finding and exploiting business opportunities. While we are frequently engaged because of our depth of expertise, our breath is one of our biggest assets, and is a significant value add for our clients who have come to rely on us to guide and assist them with strategic issues and initiatives. Whether we’re talking about insurance and risk management or about property and casualty insurance, we have the entire spectrum of services and resources to guide you through.

Here’s a taste of what we do, for more details, check out our services section:

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Manage

Program and insurance management, i.e., temporary or permanent outsourcing of some or all operational and corporate functions required by clients, including principal attorney, general manager, accounting and regulatory functions.

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(Re)Insurance

Brokerage consulting services for insurance and reinsurance placement, including design and review of policy wording, analysis and support on the various exposure issues, issuance of policies and certificates and negotiating/placing the insurance risk in the general insurance market.

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Actuarial Services

Actuarial consulting, including the work of an appointed actuary, determination of funding/pricing requirements, valuation of policyholders’ liabilities, modelling and design of insurance and reinsurance programs, AgriInsurance and non-traditional lines expertize, audit specialist and strategic advice.

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Risk Management

Risk management consulting services, e.g., program structure, insurance policy review, financial and administrative agreements, claims and underwriting review, risk strategy evaluation such as risk transfer, insurance management etc.

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Coverholder

Coverholder services, including binding risks, collecting premiums, issuing policies, managing and paying claims on behalf of Lloyd’s syndicates and domestic carriers.

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Alternative Risk Transfer

Risk management consulting services, e.g., program structure, insurance policy review, financial and administrative agreements, claims and underwriting review, etc.

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Affinity Programs

Group and affinity insurance program consulting for property and casualty insurance such as home, automobile, pet and travel insurance.