Imagine a construction site protected by a finely tuned safety net, ready to catch the unexpected. In inland marine insurance, Builder’s Risk and property coverages serve as that safety net, supporting the complex, ever-changing landscape of construction and infrastructure projects. From government upgrades to innovative industrial builds, the risks are as diverse as the projects themselves.
In this Q&A, Scott Saunders, seasoned inland marine expert and Executive Underwriter at AXA XL, shares his insights on the future of inland marine and property coverage. He emphasizes how tailored solutions, rapid responses, and strong broker relationships are key to navigating the evolving landscape of construction and infrastructure projects. He discusses the latest trends, challenges, and opportunities — from innovative Builder’s Risk products to the vital collaboration between brokers and carriers — that are shaping the future of this dynamic industry.
Whether you're a broker, underwriter, or industry professional, Scott’s insights highlight how customized, comprehensive approaches are driving progress in construction and property insurance.
Scott, with your background in underwriting, regional management, and specialty lines like inland marine, how have these experiences influenced the way you lead your teams and handle client relationships in the NE/Mid-Atlantic?
SS: Over the past two and a half years at AXA XL, plus my prior roles at Chubb & Great American, I’ve gained a broad view of insurance, especially inland marine. Working on Builder’s Risk —from industrial buildings to military base upgrades and geothermal projects — has taught me to understand each project’s nuances and client needs. This diverse experience helps me work with agility, collaboration, and customized solutions. In the East zone, we stay attuned to local market trends, like the recent rise in hospital and government accounts, so we can be proactive. This has led to my book doubling the new business production goal this year from larger construction projects being the driver. These experiences underscore the importance of being adaptable, responsive, and client focused.
What key qualities are essential for building strong, collaborative relationships with brokers to drive mutual success, based on your experience at AXA XL and previous companies?
Building strong relationships with brokers really comes down to trust, being responsive, and understanding their needs. When it comes to cross-selling, especially in large property and mid-market construction, success often depends on how well we can identify coverage gaps and offer comprehensive solutions. For instance, I’ve worked closely with our Middle market teams on contractor’s equipment & installation floaters; both generalist and PE teams finding this coverage as a common solution to round out accounts. Good customer service is also crucial — being available, following up promptly, and coming up with creative solutions to meet client needs. The most important thing is to follow through on our promises and keep communication open, which helps build long-term partnerships based on mutual success.
We’ve developed proprietary forms — like our Builder’s Risk and Installation Coverage Solutions — that are tailored for specific needs, such as manufacturing or other special projects.
Considering your experience with property and inland marine exposures, how do you see Builder’s Risk evolving as a product, and what are the key challenges or opportunities you face when underwriting it?
Builder’s Risk continues to evolve rapidly, especially with the changing landscape of construction projects. We’ve developed proprietary forms — like our Builder’s Risk and Installation Coverage Solutions — that are tailored for specific needs, such as manufacturing or other special projects. We often collaborate across teams to adapt our products, for instance, we tailored a manuscript legal liability form for our contractor to meet the needs of an AMTRAK project. It’s customized to meet their specific contractual requirements.
The construction environment is dynamic — whether it’s fishing pier reconstruction in Florida or infrastructure upgrade project, just about everywhere — each project presents unique risks. Our ability to move quickly and adapt our coverage is crucial. There’s a lot of upward momentum in this space.
How do you identify and capitalize on cross-sell opportunities within your existing client base?
We proactively understand our clients’ complete risk profiles through regular communication, identifying coverage gaps, and recommending complementary solutions. For example, if a client has property coverage in another department and we get a referral for an addition, I explore inland marine options like builder’s risk to meet their needs. Our success often stems from collaborative discussions demonstrating how integrated coverage can better mitigate risks and improve cost efficiency. Additionally, insights from the Middle Market and Construction teams help us identify niche opportunities, especially in cross-selling and fostering collaboration within our broader Americas team.
Looking ahead, what trends do you see shaping how brokers and carriers work together on inland marine and property risks? And how do you think AXA XL can continue to support these evolving needs?
The construction and inland marine markets are continuously evolving, driven by technological advances, new construction methods, and changing regulatory environments. Trends like increased focus on cyber-infrastructure, greener building practices, and the need for rapid project completion create both challenges and opportunities.
Collaboration will become even more critical; brokers and carriers must work together proactively to understand these emerging risks and develop innovative solutions. AXA XL can support this by continuing to invest in product development — like our proprietary forms — and fostering open dialogue with brokers. Providing educational resources, case studies, and tailored coverage options will help brokers deliver the best solutions to their clients. Ultimately, agility, collaboration, and a client-centric approach will be key to navigating these changes successfully.
