AXA strikes long-term travel insurance deal  with Monzo

AXA Partners has entered into a long term travel insurance partnership with Monzo to expand its proposition in the challenger bank space.

As part of the deal, Monzo will offer a "comprehensive travel insurance" policy underwritten by AXA to its premium subscribers.

The policy will cover medical bills, lost valuables, trip cancellation costs and winter sports, with an option to include families for an additional cost.

Sunita Apte, global account director at AXA Partners, said: “The world of banking has changed significantly in recent years, with challenger banks competing against the traditional high street banks. In doing so, they are attracting vast numbers of new users in a short space of time, which is due to their ability to provide innovative and useful features to their customers."

“Customers want a bank that can offer more than just a current account and Monzo is leading the way in this space," Apte added. "Moving from being a payer of insurance to a partner, allows us to provide an exceptional customer experience, whilst adding value to lives. What’s more, it is vital to our success and fundamental to all we do. With its award-winning customer service, Monzo Bank is an obvious partner choice for us."

Get all the latest re/insurance industry news with our daily newsletter -  sign up here.

More of today's news

​ ​‘Long term test’ for PM Boris Johnson will be to maintain UK insurance powerhouseHuw Evans, ABI director general, hopes Boris ‘will be able to overcome the current impasse and implement Brexit in an orderly fashion, with a transition period’.

Hiscox unveils new marine solution as threat rises over Iran-UK ship seizure
But the insurer said that no ships trading with Iran will be considered.

Tokio Marine forms new cyber & professional lines unit to address emerging risks 
The group includes the operations of the recently-acquired NAS Insurance Services.

Goldstein returns as Kingstone CEO with 'one immediate goal'
The new chief is "laser focused" on improving the company's underwriting profitability and results.

CFC taps new cyber claims director from Aon
He will lead cyber claims and incident response organisation, as well as risk management services.

Insurtech Confused.com appoints first COO to lead product strategy
Confused.com is a digital marketplace for car insurance and other financial products in the UK.

Alliant bolsters New York property/casualty teamThe company has hired a long-time risk and insurance expert to deploy tailored solutions across the Northeast.​

Save £600 with the Intelligent InsurTECH Europe Super Early-Bird rate:  Book now