In a bid to boost insurance adoption, AXA is collaborating with Western Union to provide inclusive products to customers. According to both companies, linking insurance to money transfer services will further assist in covering migrant workers and their families at home.
Speaking on this initiative, the Chief Executive Officer of AXA, Thomas Buberl, said the development is in line with AXA’s ambition to significantly contribute to financial inclusion through its emerging customers division.
Buberl added that the business aims to serve low income to mass market populations by accelerating the development of adapted and relevant insurance and protection services.
On his part, the President and Chief Executive Officer of Western Union, Hikmet Ersek, said the partnership will provide new ways to facilitate value-added products and services to the millions of immigrants and dual-citizens.
“For Western Union, this is a new step in our customer centric strategy to enrich the value we offer to customers by integrating adjacent financial services seamlessly through our global omni-channel platform.
“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. 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,” Ersek declared.