By Raphael Innocent
The insurance company AXA has collaborated in partnership with financial service provider Western Union in order to provide insurance services to customers who use the service of the company.
According to a statement, the partnership was to provide better cover for migrant workers who use the money transfer service and their families in their home country.
Also, there was an initial launch of a service known as Transfer Protect in France with partners of AXA which was intended to offer solutions to customers of Western Union. Among the features of the service was an option to sign up for a life and disability insurance cover.
The advantage of the above initiative is that it gives confidence to migrant populations that their designated family members are sure to receive a compensatory payment in event of any unfortunate eventuality.
In the words of the Chief Executive Officer of AXA, Thomas Burbel; 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 millions of immigrants and dual-belongers.
The both organizations view the strategic planning as a move which will greatly encourage financial inclusion in line with AXAs Emerging customers division service.