Insurer AXA to distribute products through Alibaba

Singapore

FRENCH insurer AXA has partnered Chinese e-commerce giant Alibaba and its affiliate, Ant Financial Services Group, to distribute insurance products and services to consumers around the world as it tries to find ways to grow its business.

On Friday, the three parties announced in Paris a global partnership that will have them work together to co-innovate and develop value-added products and services to customers, as well as develop and explore new markets and segments.

When asked how much this partnership is expected to contribute to the insurer's global business, AXA said: "It is too early (to tell) but through this partnership, we expect to have access to Alibaba's unique global and direct distribution channel, notably to further accelerate our de…