Dutch multinational banking and financial services firm ING has partnered with French insurer AXA to build a global insurance platform.
The multi-country bancassurance partnership will offer insurance products and related services via a central digital insurance platform.
Through the partnership, ING customers in Germany, Australia, Italy, France, Czech Republic and Austria will be offered health and protection insurance solutions, as well as property and casualty products.
The two companies will together develop personalized insurance products and relevant services, which can accessed via the ING mobile application.
ING said the partnership is a continued step towards delivering its Think Forward strategy, which will empower around 13 million of its customers to stay a step ahead in life and business.
For AXA, the partnership is another step in its payer-to-partner strategy and in growing in its preferred segments.
ING Group CEO Ralph Hamers said: “Our partnership with AXA adds an important dimension to our ambition to build one customer-centric platform, a go-to place for financial needs. Adding personalized protection products that are life-stage driven, will ensure we keep our customers ahead in life, empowering them to stay in control, in line with their widening demands.”
Hamers noted the initiative will also contribute to diversify the company’s income.
AXA CEO Thomas Buberl said: “We are excited about the opportunity to partner with ING to deliver a significant step change in the future of digital insurance solutions, leveraging our joint digital capabilities and innovative assets, and providing a differentiated customer experience to address ING customers’ protection needs.
“The partnership with ING represents a strong meeting of minds and a shared ambition of becoming a partner in our customer’s life journey. This is another key step in AXA’s transformation, fully aligned with our payer-to-partner strategy. We will indeed accelerate our growth in Europe and build innovative insurance solutions and services that have the potential of creating more frequent interactions with the customers.”