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