Firm partners Western Union to provide inclusive insurance

AXA has announced the launch of a collaboration with the Western Union Company to provide inclusive insurance products to Western Union’s customers using its westernunion.com service.

By linking insurance to money transfer services, the two groups will help to better cover migrant workers and their families at home, a statement from AXA said at the weekend.

An initial pilot, called ‘Transfer Protect’, launched recently in France with AXA Partners, offers Western Union’s customers sending money via westernunion.com the option to seamlessly sign up for a life and disability insurance solution.

“This 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 said.

Hikmet Ersek, President and Chief Executive Officer of Western Union said: “This new partnership will provide a new way for us to facilitate value added products and services to the millions of immigrants and other people through westernunion.com.’’

Thomas Buberl, Chief Executive Officer of AXA said: “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.’’