Insurer Axa and money transfer company Western Union are launching specific products for migrant workers. A pilot project covers ten African countries.
Insurer AXA partners with Western Union Company to provide affordable insurance products to users of westernunion.com.
By combining insurance and money transfer services, the two groups will help better cover migrant workers and their families in their country of origin. A first pilot project, called “Transfer Protect”, launched the week of June 15 in France with AXA Partners, offers western union.com users the possibility of taking out life and disability insurance with ease.
The scope of this pilot project covers money transfers on westernunion.com from France to ten African countries: Senegal, Morocco, Côte d’Ivoire, Madagascar, Cameroon, Mali, Benin, Togo, Republic of Congo and Guinea.
Senders can have peace of mind knowing that their family member or designate will receive payment in a death event or disability. This announcement reflects AXA’s ambition to “contribute significantly to financial inclusion” through its AXA Emerging Customers program, the French insurance leader is pleased.
It aims to meet the needs of low and middle income populations by accelerating the development of appropriate and relevant insurance and protection services. It is also a new step in Western Union’s customer-centric strategy to enrich the offering for its users by integrating additional financial services into its global platform.
A win-win for both parties!
For its part, the leader in cross-border money transfers and payments also finds its account.
“Our customers around the world trust Western Union for their largest and most complex money transfers. They also expect value-added services to better manage their finances and achieve their long-term goals”, said Hikmet Ersek, CEO of WesternUnion.
Enriching the offer offered to global customers is one of the essential axes of its strategy. “This new partnership will allow us to offer complementary services to millions of immigrants and binationals via westernunion.com. “AXA is a world leader” whose financial inclusion strategy is in line with ours, and we are excited about the opportunities that our collaboration can offer.”
Reference: https://coverager.com/axa-partners-with-western-union/
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