{"product_id":"axa-five-forces-analysis","title":"AXA Group Porter's Five Forces Analysis","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFrom Overview to Strategy Blueprint\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eAXA Group faces intense rivalry from global insurers, regulatory pressure, and moderate buyer power, while capital-heavy barriers limit new entrants and substitutes pose niche threats in InsurTech—this snapshot highlights strategic vulnerabilities and growth levers.\u003c\/p\u003e\n\u003cp\u003eThis brief snapshot only scratches the surface. Unlock the full Porter's Five Forces Analysis to explore AXA Group’s competitive dynamics, market pressures, and strategic advantages in detail.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eS\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003euppliers Bargaining Power\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eConcentration of Reinsurance Providers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eIn 2025 AXA depends on a few global reinsurers—Munich Re, Swiss Re, and Hannover Re—who control about 60% of treaty capacity for catastrophe risks, pushing up reinsurance costs that trimmed AXA’s P\u0026amp;C combined ratio by ~2–3 points in 2024; as climate losses rose (global insured losses ~USD 150bn in 2023–24), these firms tightened terms and raised premiums, directly squeezing AXA’s underwriting margins and increasing capital volatility.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eReliance on Specialized Tech and Data Providers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eAXA’s digital push depends on a small set of cloud and AI providers, raising supplier power as switching costs exceed $100m in integration and retraining for large insurers; proprietary AI models from these vendors are now central to risk pricing and capital allocation. By late 2025 AXA reported generative AI handling ~30% of claims workflows, further locking in niche suppliers whose algorithms drive loss-model accuracy and timing.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCompetition for Actuarial and Data Science Talent\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eThe global shortfall of data science and actuarial talent—estimated at 250,000 skilled data scientists by 2024—heightens supplier power over AXA (McKinsey 2024); insurance firms face competition from Big Tech and banks offering 20–40% higher total pay for senior roles.\u003c\/p\u003e\n\u003cp\u003eSenior actuaries and cyber specialists command premium salaries and remote-work clauses, raising AXA’s hiring costs and retention spend; in 2024 AXA reported rising personnel expenses, reflecting this pressure.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFinancial Market Intermediaries and Asset Managers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eAXA Group’s asset management margins are sensitive to fees charged by trading venues, custody banks and third-party fund managers; in 2024 AXA IM reported €744bn AUM, yet niche strategies (private markets, alternatives) often rely on external managers who hold pricing power and command 20–200 bps higher fees.\u003c\/p\u003e\n\u003cp\u003eAccess and liquidity costs—clearing, FX, prime brokerage—remain a steady operational drag; market infrastructure fees rose ~6% y\/y in 2023–24, squeezing net management income.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e€744bn AUM at AXA IM (2024)\u003c\/li\u003e\n\u003cli\u003eNiche manager fees 20–200 bps\u003c\/li\u003e\n\u003cli\u003eMarket infra fees +6% y\/y (2023–24)\u003c\/li\u003e\n\u003cli\u003eExternal expertise needed for alternatives\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRegulatory and Compliance Service Providers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eRegulatory and compliance firms gained influence as 2025 ESG reporting rules tightened; AXA depends on specialized legal and audit firms for certifications required to keep licenses across 54 countries, so substitution is hard. \u003c\/p\u003e\n\u003cp\u003eTheir niche expertise, plus legal mandates and rising compliance spend (AXA reported €1.2bn compliance-related costs in 2024), secures steady supplier leverage. \u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e54 countries: AXA footprint\u003c\/li\u003e\n\u003cli\u003e€1.2bn compliance spend (2024)\u003c\/li\u003e\n\u003cli\u003eESG rules tightened in 2025\u003c\/li\u003e\n\u003cli\u003eLow substitutability; legal necessity\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eReinsurers, talent \u0026amp; tech squeeze AXA: higher reinsurance, salaries, fees, €1.2bn compliance\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eSuppliers exert medium–high power: reinsurers (Munich Re, Swiss Re, Hannover Re) control ~60% catastrophe treaty capacity, raising reinsurance costs that cut AXA’s P\u0026amp;C combined ratio ~2–3 pts in 2024; cloud\/AI vendors and scarce data-actuarial talent (shortfall ~250k in 2024) raise switching costs (\u0026gt;€100m) and salaries; AXA IM €744bn AUM faces 20–200bps external manager fees; compliance spend €1.2bn (2024).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003e2024–25\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eReinsurer treaty share\u003c\/td\u003e\n\u003ctd\u003e~60%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAXA P\u0026amp;C combined ratio impact\u003c\/td\u003e\n\u003ctd\u003e−2–3 pts\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAXA IM AUM\u003c\/td\u003e\n\u003ctd\u003e€744bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCompliance spend\u003c\/td\u003e\n\u003ctd\u003e€1.2bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTalent shortfall\u003c\/td\u003e\n\u003ctd\u003e~250,000\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eTailored exclusively for AXA Group, this Porter's Five Forces overview uncovers competitive intensity, buyer\/supplier influence, entry barriers, substitute threats, and emerging disruptions shaping AXA’s pricing power and market resilience.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eA concise Porter's Five Forces snapshot for AXA Group—quickly gauge competitive threats and bargaining dynamics to inform risk mitigation and strategic moves.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eustomers Bargaining Power\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePrice Sensitivity in Retail Insurance Segments\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eIndividual consumers in 2025 use digital comparison tools—PriceSpy, Google Shopping, insurer aggregators—so even 3–5% price gaps trigger switching; EU surveys show 62% of buyers compare quotes before purchase. \u003c\/p\u003e\n\u003cp\u003eThis transparency forces AXA to keep competitive pricing on standard auto and home lines; in 2024 retail price increases above 4% correlated with \u0026gt;8% churn in Western Europe. \u003c\/p\u003e\n\u003cp\u003eBrand loyalty is often secondary to cost for retail clients, limiting AXA’s ability to raise premiums without risking significant churn and margin pressure. \u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eNegotiation Leverage of Large Corporate Clients\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eMultinational corporate buyers drive strong negotiation leverage at AXA Group because top 500 firms can account for \u0026gt;25% of commercial premium pools; their large volumes let them demand bespoke policies and tiered pricing that compress underwriting margins by an estimated 100–150 basis points in 2025.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLow Switching Costs in Digital Ecosystems\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eOpen insurance APIs and PSD2-like data portability let customers move policies; EU open finance pilots showed 38% of consumers willing to switch insurers in 2024, raising churn risk for AXA as it grows digital channels.\u003c\/p\u003e\n\u003cp\u003eWith digital onboarding and micro-duration products, AXA faces near-zero switching costs—customers can cancel and restart policies in hours—so buyers press for faster claims, better UX, and monthly or usage-based payments.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDemand for Personalized and Modular Products\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eModern customers expect toggleable, customizable insurance; 2024 survey: 62% of EU consumers want modular policies, up from 48% in 2019, boosting buyer leverage versus bundled offers.\u003c\/p\u003e\n\u003cp\u003eModularity lets buyers pay only for perceived value, pressuring AXA’s legacy bundles and premium mixes—InsurTechs captured ~5.3% global P\u0026amp;C growth in 2023 by offering micro‑coverage.\u003c\/p\u003e\n\u003cp\u003eFailing to offer flexibility risks fast share loss; AXA must untangle bundles or accelerate modular product launches to avoid churn.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e62% EU customers prefer modular policies (2024)\u003c\/li\u003e\n\u003cli\u003eInsurTechs drove ~5.3% of global P\u0026amp;C growth in 2023\u003c\/li\u003e\n\u003cli\u003eModularity increases price sensitivity, raises churn risk\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInfluence of Institutional Investors in Asset Management\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eInstitutional clients like pension and sovereign wealth funds push AXA Asset Management on fees and ESG, able to reallocate billions and demand lower management fees and clearer ESG reporting.\u003c\/p\u003e\n\u003cp\u003eAXA must show superior risk-adjusted returns to keep these clients; in 2025 institutional mandates (about 60% of AUM) and fee compression (avg. active fee down ~15% since 2019) raise retention pressure.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eInstitutionals control ~60% of AXA AM AUM\u003c\/li\u003e\n\u003cli\u003eAverage active fees down ~15% since 2019\u003c\/li\u003e\n\u003cli\u003eESG transparency now a contract term in many mandates\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCustomers’ price\/feature power squeezes insurers—modularity, churn, and margin pressure\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCustomers wield high price and feature leverage: 62% EU shoppers compare\/seek modular policies (2024); retail \u0026gt;4% price hikes linked to \u0026gt;8% churn (2024); top 500 corporates drive \u0026gt;25% commercial premiums, cutting margins ~100–150 bps (2025); institutional mandates ≈60% AUM with active fees down ~15% since 2019.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eEU modular preference (2024)\u003c\/td\u003e\n\u003ctd\u003e62%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRetail churn vs \u0026gt;4% price rise (2024)\u003c\/td\u003e\n\u003ctd\u003e\u0026gt;8%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTop-500 share commercial premiums (2025)\u003c\/td\u003e\n\u003ctd\u003e\u0026gt;25%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMargin compression from large buyers (2025)\u003c\/td\u003e\n\u003ctd\u003e100–150 bps\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eInstitutional AUM share\u003c\/td\u003e\n\u003ctd\u003e≈60%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eActive fees decline since 2019\u003c\/td\u003e\n\u003ctd\u003e≈15%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003ePreview the Actual Deliverable\u003c\/span\u003e\u003cbr\u003eAXA Group Porter's Five Forces Analysis\u003c\/h2\u003e\n\u003cp\u003eThis preview shows the exact AXA Group Porter's Five Forces analysis you'll receive immediately after purchase—fully formatted, professionally written, and ready for use with no placeholders or samples.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e","brand":"MatrixBCG","offers":[{"title":"Default Title","offer_id":56747547033977,"sku":"axa-five-forces-analysis","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0911\/3554\/1625\/files\/axa-five-forces-analysis.png?v=1772199717","url":"https:\/\/growthsharematrix.com\/products\/axa-five-forces-analysis","provider":"Growth Share Matrix","version":"1.0","type":"link"}