Product Family

Financial Resilience

Only 22% of unemployed people receive financial support from their government (UN SDGs). We’re in the business of offering our clients financial stability. We aim to do the same for our local communities. We’re helping to create opportunities for the unemployed and underemployed, so they can be better prepared for unexpected changes

Aiding youth unemployment in India:
As of 2020, India’s population is the youngest in the world and only 2.3% of India’s total workforce has undergone formal skill training. According to Plan India, year on year, 75% of the 15 million young people entering the workforce are not ready.

AXA XL has partnered with Plan India, who provides vocational and work-readiness training to socio-economically disadvantaged young adults. Under the Saksham Project, these individuals are given training in vocational trades such as retail management, elder care and mobile device repair, alongside wider employability skills, to prepare them for successful entry into the workforce.

Our goal is to train 800 young adults from target areas in Delhi, two-thirds of whom will be young women. In addition, our colleagues are leading workshops for Saksham project participants, sharing tips and guidance on work readiness, as well as their own experiences of navigating career pathways.

Innovating to tackle youth homelessness:
We are partnering with the Rapid Results Institute (RRI), to accelerate progress toward preventing and ending youth homelessness in the U.S. RRI projects are designed to inspire intense collaboration, innovation, and disciplined execution in pursuit of remarkably ambitious 100-day goals.

The RRI team has pioneered this work with local governments and communities focused on addressing youth homelessness, as well as wider projects to support agencies working in the fields of criminal justice and healthcare. A team of high-potential colleagues from across AXA XL are supporting “Communities” of youth homelessness agencies on their 100-Day journeys through coaching and facilitation of workshop sessions, as well as assisting the RRI team in monitoring and evaluating the results achieved in the 100 days and beyond.

Creating accessible services for low-income households:
Since 2019 we have been working with United Way of Western Connecticut (UWWC), in support of their ALICE® project. UWWC fights for the health, education and financial stability of every member of the local community, with a particular focus on supporting the growing number of hard-working households that do not earn enough to afford basic necessities. Low wages, tight budgets and a limited ability to set aside savings all too often means members of these communities are one emergency away from financial crisis.

These households are Asset Limited, Income Constrained, Employed – or “ALICE.” UWWC is working on developing a comprehensive digital platform to deliver discounted services and other means of financial support to ALICE households. AXA XL is supporting the development and delivery of this digital platform. Funding provided has enabled UWWC to employ members of the community, with ALICE experience, as consultants, to ensure it best serves ALICE members of the community. In addition to financial support for the platform, AXA XL’s IT team is providing pro bono technology support directly to UWWC.

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