AXA has entered into a strategic
collaboration with the Western Union to provide inclusive insurance
products to
customer of the money transfer company.
A statement explained that by linking
insurance to money transfer services, the two groups would help to
better cover migrant workers and their families at home.
An initial pilot, called ‘Transfer
Protect’, launched recently in France with AXA Partners, offers Western
Union’s customers sending money via Western Union, the option to
seamlessly sign up for a life and disability insurance solution.
It will help provide peace of mind to
the migrant population knowing that their designated family members or
loved ones will receive a payment in case of an unfortunate life or
disability event, the statement added.
According to both organisations, the
strategic partnership was in line with AXA’s ambition to significantly
contribute to financial inclusion through its AXA Emerging Customers
division.
Chief Executive Officer of AXA, Thomas
Buberl, said: “Our customers around the world trust Western Union with
their most important and complex money transfers. They also want other
value-add services to sustain their financial well-being and long-term
financial goals.
“Providing value to the global
populations we serve is a key focus for our global strategy. This new
partnership will provide a new way for us to facilitate value added
products and services to the millions of immigrants and dual-belongers.
“AXA is a worldwide leader whose
financial inclusion strategy is well-aligned with ours, and we are
excited about the opportunities that our collaboration presents,”
commented Hikmet Ersek, President and Chief Executive Officer of Western
Union.
“AXA is committed towards providing inclusive insurance, a business
with high social impact. We are excited to leverage Western Union’s
extensive network and trusted brand to reach its global customer base,
thereby bringing accessible, relevant and affordable protection to those
who need it most.”
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