AXA Mansard, a part of AXA, and UK-based fintech firm SympliFi have joined forces to offer financial services through the latter’s digital platform in Nigeria.
The fintech will leverage this partnership to offer loan protection insurance and health cover to Nigerians.
SympliFi’s mobile app offers access to affordable credits to Nigerians.
AXA Mansard’s policies will help minimise the financial impact of unforeseen medical emergencies that may affect loan repayment ability.
The insurance cover comes bundled with a hospital allowance to cover part of the loan payment, a cash payment for covering hospital expenses and life insurance coverage.
AXA Mansard Health CEO Tope Adeniyi said: “We are delighted to partner with SympliFi to provide both easy access to healthcare and quick loans to Nigerians from the convenience of their mobile phones.
“We will continue to innovate and create new products, thereby improving the scope of our product offerings, whilst continuously enhancing our service delivery to ensure we always provide our customers with top-notch service to address their needs.”
SympliFi CEO Maurice Iwunze said: “Access to credit and health care remains out of reach for most Nigerians, so families in the diaspora end up serving as the bank and insurance company for their loved ones back home.
“It is a financial drain on those in the diaspora, while their loved ones back home continue to be excluded from the financial system. We wanted to develop an innovative solution to seamlessly address the problem, in a way that’s a win-win for both sides.
“The AXA partnership allows us to do so and is a first step in working together to reimagine the way Nigerians in diaspora support their loved ones back home, beyond remittances.”