(Yicai Global) July 20 -- China will be pivotal in AXA Group's growth strategy in the next 20 years, said Thomas Buberl, the firm's general manager, at the forum of the China-France Investment Dialogue held in Paris from July 11.

The firm plans to cover 100 million insurance clients in China by 2030, he said. Though they have embarked onto other Asian markets, their emphasis unquestionably rests on China, which lies at the core of their strategy.

The development potential between AXA and its Chinese partners is thus very great. AXA will not copy the European business model in China, but will have to devise a suitable product paradigm for the local market.

Cooperation with Industrial and Industrial and Commercial Bank of China Ltd. [HK:1398; SHA:601398] (ICBC) allows their joint venture company to serve Chinese clients at 8 million counters, Buberl said. This is a very extensive network.

Chinese consumers are very fond of digital services, and conclude about 60 percent transactions via digital technology, sometimes by the technological mix of windows, counters and digital applications. This will enable AXA to grow and develop faster in the future, Buberl believes.

China achieves rapid progress in new technology, Buberl observed. Though many people focus on Silicon Valley in the US, which they deem the exclusive fount of new technology, this is not necessarily the case, since China has many excellent emerging technologies.

AXA is cooperating with Tianping Insurance Co. to stay at the forefront of emerging technology, with a focus on provision of online auto insurance. The two formed a joint-venture company, AXA Tianping Property & Casualty Insurance Co, to that end in June 2014. In addition to its digital services, the latter's 20 branches also provide counter services. Their cooperation is excellent, Buberl added.

AXA will also collaborate with China's internet Goliath, Alibaba Group Holding Ltd. [NYSE:BABA] to change the experience and efficiency of client purchasing and payment  by combining digital and traditional services, Buberl said.

Alibaba is a large-scale e-commerce platform that also exports to other countries, he noted. AXA will provide insurance services for its e-commerce transactions. Also, the vast numbers Chinese travel abroad are all potential AXA insurance clients.