AXA Health does have a tendency to offer salaries below market rate and this is compounded by a glacial rate of annual increase. This seems to be a long term problem for the company, and AXA Health would do well to acknowledge and address it (beyond signposting the value of non-pay benefits). Incidentally, whilst good, these benefits are not in any way a meaningful replacement for appropriate remuneration and it lands poorly with staff to suggest they are.
The company retains many staff on goodwill and this has perhaps enabled complacency, but this is a risky position to take and certainly the mood amongst staff has turned on this issue lately. In health insurance, staff accrue a level of technical knowledge - in all roles - that is very difficult to replace so AXA Health should revisit pay before all that knowledge and experience is lost to better paying competitors (or lost to entirely different sectors).
AXA Health is also let down by poor IT services and support, much of which feels inexplicably complex and archaic.