AXA XL has formed a strategic alliance with Winston Artory Group (WAG), an art advisory, appraisal, and data platform, to enhance protection for clients’ artwork and other high-value assets.
The partnership will grant AXA XL’s Fine Art & Specie (FAS) clients, including private collectors, museums, and cultural institutions, access to WAG’s advanced valuation methods and risk-management expertise.
Casey Santangelo, head of fine art & specie insurance, Americas, said the collaboration addresses evolving sector needs by combining expert valuation with tailored insurance solutions. Elizabeth von Habsburg, co-founder and co-executive chair of WAG, added that the alliance brings clients increased confidence through technology-driven appraisals and strategic collection advice covering buying, selling, and managing assets.
The move comes at a time when the US fine art insurance market is adapting to multiple shifts. Climate and catastrophe risks have been a growing concern, especially following the devastating Los Angeles wildfires in early 2025, which are expected to result in the largest-ever fine art insurance payouts. These events have prompted insurers to adopt tighter underwriting practices and to raise rates for collections in high-risk areas.
Technology is also reshaping the industry, with AI-powered valuation platforms now achieving accuracy rates of around 85%, allowing for faster, more consistent appraisals that are increasingly being used for insurance, loans, and tax purposes. However, most experts agree that human expertise remains essential in determining the true value of artworks.
Meanwhile, the rise of digital art and NFTs has forced insurers to design new policies addressing risks such as cyber threats, digital wallet hacks, and volatile valuations. At the same time, collectors and institutions are demanding more flexible and customised coverage options, such as event-based policies, extensive blanket cover, or pay-as-you-go models.
By integrating WAG’s data-rich valuations into its coverage model, AXA XL aims to deliver a more comprehensive approach to fine art protection.
