AXA Insurance has formed a partnership with Carousell to offer an integrated insurance purchasing solution for the second-hand auto market.
By integrating the purchasing of motor insurance with the Carousell app, consumers will be able to easily and instantly buy protection for their second-hand cars and motorbikes. Users will not have to leave the app to buy the policy, with quotes for a selection of different policy types being given instantly to buyers.
The companies claim consumers will be able to purchase their preferred policy and obtain all the documents within five minutes.
Founded in 2012, Carousell is an online marketplace where users can buy or sell a variety of products including vehicles, clothing, electronics, furniture and property, among others. The company initially launched in Singapore but is now in operation across Southeast Asia, including Hong Kong, Taiwan, and Australia.
There are over 10,000 listings for second-hand vehicles on the app, with consumers able to buy or sell globally.
AXA Insurance digital transformation director Tomasz Kurczyk said, “AXA is proud to be the preferred insurance provider for second-hand cars and motorcycles on the Carousell marketplace.
“Through this collaboration, we are able to complement Carousell’s value proposition in the automotive space and deliver the best-in-class digital experience and value to Carousell users. This partnership realises our ambition of delivering real-time and seamless insurance protection for car buyers when and where they need it.”
Last year, AXA Hong Kong revealed plans to invest around HK$200m ($25m) into FinTech development this year, triple its commitment in 2017.
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