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AXA Switzerland has introduced its addProtect bancassurance solution, leveraging additiv's technology platform.
This offering seeks to enable banks to safeguard their mortgage customers against key risks through a plug-and-play solution.
AXA Switzerland’s addProtect is designed to provide banks with direct access to the platform, eliminating the need for extra integration with their current IT systems.
With death and payment protection insurance, bank advisors can provide products that deliver added value beyond their current offerings.
The platform is now available for banks, with an initial pilot programme set to launch in partnership with PostFinance.
In addition to insurance, additiv offers its API (application programming interface)-first cloud platform for wealth management, banking and credit services.
Based in Switzerland, additiv has regional offices in Singapore, the United Arab Emirates, Germany and the UK and employs more than 250 people.
The company claims to serve more than 400 financial institutions globally, including banks, insurers, asset managers and pension providers.
AXA Switzerland head of partnerships Samuel Peter said: “With addProtect, AXA is responding to the growing need of customers and banks for appropriate insurance solutions where and when they are needed.
“The solution creates additional advisory potential and better protection for the customers of our partners’ banks. We look forward to making the solution available to other partners.”
additiv general manager Switzerland Dieter Lützelschwab said: “When developing addProtect, we focused on the user experience for the customer and the bank advisor.
“In addition, our platform provides an easily configurable, modular insurance solution that covers the entire value chain from quotation to claims processing.”
Last month, AXA XL, another unit of the French insurance group AXA, introduced an endorsement to its cyber insurance policy.
The endorsement addresses challenges companies may face when developing their own generative AI models.
In August, AXA Hong Kong and Macau, another member of the French group, launched a heatwave parametric insurance offering in Hong Kong.
The product provides protection for outdoor workers against the risks associated with rising temperatures.
"AXA Switzerland unveils bancassurance solution powered by additiv tech " was originally created and published by Life Insurance International, a GlobalData owned brand.
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