Product Family

The new Global Health Risk Facility (GHRF) is a highly collaborative undertaking that insures the transportation and storage of COVID-19 vaccines and other critical health commodities for the benefit of low, middle and upper-middle-income countries. The GHRF has been developed by Parsyl, a Lloyd’s Lab alumni, in close partnership with AXA XL, Ascot and McGill and Partners. AXA XL will lead the risk management and local policy implementation.

Global Risk Consulting

Our global Risk Consulting team will play a critical part in leading the risk control initiative embedded into the GHRF, by providing risk scoring and recommendations to better monitor the exposures for the distribution of the vaccines and other health commodities. Our risk control process will focus on two main streams: traditional risk consultancy and IoT solutions to monitor cold-chain vaccines. This will be achieved through risk identification, understanding and analysing supply chain data, issuing recommendations and finally, a remediation process involving improvements and quality checks. Our main goal is to reduce product wastage, protect the potency of vaccines and medicines and assess the quality of the distribution supply chain to lower risk and improve insurability.

Relying on 40 years of network management experience

In addition to our Risk Consulting Services, we are bringing our global network capabilities to the GHRF. Through our own operations and selected network partners, we are able to provide local insurance solutions and claims services in over 200 territories around the globe. As a leading property and casualty commercial insurer, we’re activating our global network to provide local risk capacity to low, middle and upper-middle-income countries.

Related Resources

A hand holding on to a syringe against a world map for Global Health Risk Facility

Fast Fast Forward

A new Lloyd's Syndicate will insure the transportation and storage of COVID-19 vaccines.

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Vials ready and kept in line for Global Health Risk Facility

Press release

Public-private collaboration addresses critical risks faced by COVID-19 vaccines and during distribution.

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A doctor with a face mask for Global Health Risk Facility

AXA’s Response

In an unstable environment, AXA has been fully mobilised since the outbreak of the pandemic to respond to COVID-19 challenges.

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Working together: This collaborative undertaking harnesses the capabilities, expertise and resources of several public, private and non-profit organisations.
Click here to find out more about these organisations: Parsyl, Ascot, Lloyd’s, McGill & Partners, EY and Development Finance Corporation.
“We’re very proud to be part of this extraordinary collaboration, harnessing AXA XL’s global risk consulting expertise to advise on the safe distribution of vaccines and AXA’s global footprint to provide emerging markets with local insurance cover. The COVID-19 crisis has escalated the need to improve the already challenging global distribution of vaccines. By sharing data and through innovative risk mitigation, this facility will play a crucial role in ensuring that vaccines travel safely through the global supply chain to all corners of the world. This is another example of the insurance industry working in a public private partnership to address critical public health issues. AXA XL, in line with AXA Group's commitment to contribute to the equitable distribution of vaccines, is proud to be a part this initiative.”
Sean McGovern, CEO, UK & Lloyd’s market

This summary does not constitute an offer, solicitation or advertisement in any jurisdiction, nor is it intended as a description of any products or services of AXA XL. AXA XL is a division of AXA Group providing products and services through three business groups: AXA XL Insurance, AXA XL Reinsurance and AXA XL Risk Consulting.
AXA, the AXA and XL logos are trademarks of AXA SA or its affiliates. © 2021

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