DeeMoney to offer free accidental insurance protection to its customers underwritten by AXA Insurance.
DeeMoney, the award winning money transfer operator, offers 24×7, 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.
- 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.
- 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.
- 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.
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.
DeeMoney is the first Thai non-bank licensed platform operating international money transfer and exchange services with 4 convenient locations in Bangkok, Samrong and Mahachai. DeeMoney offers international money transfers to 180 plus countries and 34 currencies at its outlets and extends its services to web and mobile applications. DeeMoney mobile app is Thailand’s most cost effective and extensive solution for international money transfers.
ABOUT AXA THAILAND
AXA Insurance PCL was established in Thailand in July 1998 and AXA Group is the largest shareholder our company. AXA Insurance has been expanding steadily over the year with nationwide presence in Bangkok and branch offices in Chiang Rai, Chiang Mai, Pitsanulok, Nakhon Sawan, Udon Thani, Khon Kaen, Nakhon Ratchasima, Ubol Ratchathani, Chonburi, Pattaya, Rayong, Chanthaburi, Hua Hin, Nakorn Pathom, Chachoengsao, Samui, Surat Thani, Hatyai and Phuket.
ABOUT THE AXA GROUP
The AXA Group is a worldwide leader in insurance and asset management, with 171,000 employees serving 105 million clients in 61 countries. In 2018, IFRS revenues amounted to Euro 102.9 billion and underlying earnings to Euro 6.2 billion. AXA had Euro 1,424 billion in assets under management as of December 31, 2018. The AXA ordinary share is listed on compartment A of Euronext Paris under the ticker symbol CS (ISN FR 0000120628 – Bloomberg: CS FP – Reuters: AXAF.PA). AXA’s American Depository Share is also quoted on the OTC QX platform under the ticker symbol AXAHY. The AXA Group is included in the main international SRI indexes, such as Dow Jones Sustainability Index (DJSI) and FTSE4GOOD. It is a founding member of the UN Environment Programme’s Finance Initiative (UNEP FI) Principles for Sustainable Insurance and a signatory of the UN Principles for Responsible Investment.