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Fintech & Ecommerce

Western Union teams up with French insurance firm

Jun 22, 2020

That will initially be a pilot program which both companies hope to develop over time

Western Union AXA

Western Union teams up with French insurance firm. Source: unsplash.com

Western Union has announced a new strategic partnership with AXA. This collaboration offers affordable life and disability insurance solutions to consumers in France by sending money via Western Union to 10 African countries.

An initial pilot of the ‘Transfer Protect’ insurance offers a free one-month €1,000 AXA life and disability insurance product.

According to information, the new initiative covers Senegal, Morocco, Ivory Coast, Madagascar, Cameroon, Mali, Benin, Togo, Congo, and Guinea.

This partnership shows the power of our global cross-border, cross-currency payments platform. Our long-term goal is to leverage our platform and digital capabilities to forge more partnerships and become a financial services ecosystem. In enabling third parties, including banks and other financial institutions, to tap into our ecosystem capabilities, these companies can offer similar services for their customers. We are pleased to offer insurance services in collaboration with AXA to serve our customers and their families who both know and trust Western Union
Hikmet Ersek, Western Union CEO

We’ve reported that in Q1 2020, Western Union faced significant declines in transactions for its C2C business due to the pandemic. Despite the late March and early April declines were nearly 30%, in mid-April, the rate began to improve

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