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AXA Mansard, Western Union have collaborated to deepen financial inclusion through the provision of inclusive insurance products.
The firms say by linking insurance to money transfer services, the two groups will help to better cover migrant workers and their families at home.
An initial pilot, Transfer Protect, unveiled in France with AXA Partners, offers Western Union’s customers sending money via westernunion.com the option to sign up for a life and disability insurance solution.
This business aims to serve low income to market populations by accelerating the development of adapted and relevant insurance and protection services.
For Western Union, this is a new step in their customer-centric strategy to enrich the value it provides to customers by integrating adjacent financial services through its global omnichannel platform.
President/CEO, Western Union, Hikmet Ersek, said its customers around the world trust the firm 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,” he said, adding that the partnership will provide a new way for to facilitate value-added products and services to the millions of immigrants and dual-belongers through westernunion.com.
“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,” he said.
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