May 2017

30 APAC / May 2017 , 1702AP46 Art is Long and Life is Short Leading art insurance group, AXA ART, offers packages for clients to protect their assets and preserve them for future generations. AXA ART is the leading art insurance specialist in the world, with headquarters in Cologne, Germany. A member of the AXA Group, AXA ART, offers specialist art insurance products to meet the needs of collectors, corporations, museums, galleries and organizers of art exhibitions. Recently, the company extended its services to offer a seamless insurance package for high-net-worth individuals who require comprehensive coverage for their art collection, valuables and assets. Jennifer Scally from AXA ART tells us a little more about the company. “Using our presence in 26 countries across the Americas, Asia and Europe, we offer our clients expertise gained from over 50 years of experience in the international art market,” says Jennifer. “Being specialists gives us a unique perspective as we combine a professional business outlook with a fierce passion for art and its enjoyment, protection and conservation. “Every client is unique to us. We will take time to understand their individual needs and tailor-make a coverage that offers the most appropriate protection.” AXA ART’s mission is to protect the collecting and art community against financial loss resulting from physical loss or damage to the insured objects and to help preserve cultural objects for future generations. “AXA ART is not just a specialist art insurer, we are also part of the art community,” Jennifer explains. “We are active participants in global art events. Being main sponsors to key art fairs worldwide including The European Fine Art Fair (TEFAF) and Art Basel, we are able to offer our clients exclusive access and privileges.” AXA ART not only helps its clients to protect their assets but also provides expert advice on all aspects of managing a collection including loss prevention, mitigation and conservation. Meanwhile, AXA ART also owns an art collection which range from 18th and 19th century art to modern and contemporary paintings, drawings, sculptures and photographs. Founded in the 1960s, the collection has since grown to over 12,180 artworks by approximately 1,400 artists. AXA ART was the first insurance company to launch specialist art insurance services in Asia, with strong presence in Hong Kong, Singapore, Taiwan, China and Malaysia. Jennifer goes into depth about the art industry in the APAC region. “Asia-Pacific is still a developing region in terms of art insurance and AXA ART has made long term commitment to this market by providing training programmes to the industry as well as establishing a regional hub office in Hong Kong. AXA ART is also a very active player in the art communities, providing sponsorships to regional art fairs and offering support to universities, governmental and non-profit art institutions in their conservation and research projects. “The group made a long term commitment to support the growing art market in Asia. We have continued to expand our Asia operations and enhance our expertise on all levels. We offer products and services that meet our clients’ needs.” Art insurance is a very niche and exclusive market and Jennifer talks more about the staff that AXA ART employs. “There is a lack of experienced candidates in the market so we recruit individuals with either professional insurance or art background then provide adequate trainings to them to allow them to process the skillset and knowledge of both fields to serve our clients. Our staff are all art enthusiasts who actively participate in art fairs, auctions and exhibitions as well as other art events. “Our business requires knowledge and passion in both art and insurance. We hire insurance professionals who are passionate about art and we train art professionals on insurance.” With regards to the future of the industry, Jennifer anticipates that people will be more accustomed to shopping online, whether for their art or insurance packages, and explains that AXA ART will continue to work and adapt to the technological change. “We will also commit to the long term development of the Asia region. We will continue to extend our services to the existing territories and consider expanding into other territories and we want to be the leading company for both art and high- net-worth insurance in Asia.”