DeeMoney partners with AXA to offer free insurance to vulnerable underserved foreign population working and living in Thailand
DeeMoney to offer free accidental insurance protection to its customers underwritten by AXA Insurance.
DeeMoney, the award winning money transfer operator, offers 24x7, fast, affordable and secure international money remittance services to the vast foreign work force living and working in Thailand. These customers remit money back to their home country regularly every month and usually are the breadwinners of their family. This group of customer bears the burden of being their family’s informal insurance policy back home, however they themselves tend to be unprotected or under protected at their place of work. Unexpected incidence such as accident from work or transportation can have significant impact to their income and consequently the livelihood of their family.
A thorough research and understanding of this demographic led DeeMoney to collaborate with AXA Insurance to curate a customized product which will provide free personal accident protection coverage from THB 25,000 - THB 50,000. Customers just register to participate into the program and transfer money monthly to avail this free cover. Customers will be able to access this program by mid-July, 2019.
“Carrying out our mission as an insurer means rethinking the concept of insurance by imagining new products as well as new ways to distribute them. Our partnership with DeeMoney enables us to reach people who sometimes have never heard of the concept of insurance and it also ties back to our value to empower people to live a better life via financial inclusion,” said Claude Seigne, CEO of AXA Thailand General Insurance.
“Foreign populations that work and live in Thailand tend to be an under-served demographic in all aspects of financial services, from banking to remittance to insurance. DeeMoney hopes to change that and bring not only a more effective international money transfer solution, but also accessibility to social and financial protection in the form of insurance. Our partnership with AXA enables us to extend the access of such protection to all our customers, empowering them and thus improving their quality of life,” said Rasmegh Srisethi, Managing Director of DeeMoney.
Customers who register and transfer money monthly with DeeMoney will be protected for 1 month against loss of life, dismemberment, loss of sight or permanent disability due to accident, including accident for riding or travelling as passenger on motorcycle with a principal sum up to THB 50,000.
DeeMoney’s money transfer services can be accessed through 4 branches in Bangkok, Samrong and Mahachai and through their mobile app.
Key points
- 1. DeeMoney is the only non-bank Money transfer service provider in Thailand to offer insurance cover to its customers. Insurance is a big expense for foreigners living in Thailand and this is just a small and first of the many benefits DeeMoney has planned for its customers.
- 2. Any foreign worker living and working in Thailand can now provide insurance to his/her family back home while still working here. This is yet another effort on DeeMoney’s part to work towards its “customer first” policy.
- 3. The aim is to not only provide the most seamless money transfer experience but additional benefits which will make the customer’s journey more rewarding.
More information at www.deemoney.comor AXA Customer Service Center at 02-118-8111 or visit www.axa.co.th.
Photo caption: (from left to right) Ms. Monnida Musicabud, SVP – Strategic Development and Regional Head of Emerging Customer, Krungthai-AXA Life Insurance Public Company Limited, Mr. Somjate Khunsriuchen, Chief Operations Officer, AXA Insurance Public Company Limited, Ms. Rasmegh Srisethi, Managing Director, DeeMoney, and Ms. Nimphiya Dhar, Marketing Director, DeeMoney posed a group photo to officially mark their partnership to offer free insurance to underserved foreign population working and living in Thailand.
