Swiss insurance giant AXA today reported that the company now allows their customers to pay premiums in bitcoin.
In the announcement, AXA Switzerland said that payment options using bitcoin are now available for non -life products. However, life insurance products have so far not supported payment options via bitcoin for ‘regulatory and regulatory reasons’.
According to Claudia Bienentreu, open innovation manager at AXA Switzerland, offering payments using bitcoin is in response to the increasing demand among customers. With alternative payment mediums that use new technologies will encourage companies to play a greater role in the insurance industry in particular.
The company has partnered with Swiss crypto broker Bitcoin Suisse for this initiative, where bitcoin payments will go through Bitcoin Suisse and converted into Swiss francs. While AXA does not charge any fees for using bitcoin payment options, Bitcoin Suisse charges a 1.75% commission to cover currency exchange costs. money and transaction costs.
Axa says it will support more payment options in the near future, including TWINT, a mobile app payment solution for the Swiss market.
As for other cryptocurrencies, AXA says they have no plans to add them in payment options.
