ING and AXA announced today an exclusive, long term, multi-country bancassurance partnership to provide insurance products and related services through a central digital insurance platform. Under the partnership, ING will bring to bear its leading digital banking experience and AXA its expertise in innovative modular insurance products and services, offering property & casualty (P&C), health and protection insurance solutions to ING customers in six of its Challenger markets: Germany, Australia 1 , Italy, France, Czech Republic and Austria 1 .
ING and AXA teams will together develop personalized insurance products and relevant services, accessible via the ING mobile application, that meet the forward-looking needs of ING customers towards Living, Mobility and Wellness.
For ING, this is a continued step towards delivering the Think Forward strategy and empowering around 13 million ING customers to stay a step ahead in life and business. For AXA, the partnership is another step in its payer-to-partner strategy, in growing in its preferred segments and towards its vision to empower people to live a better life.
"Our partnership with AXA adds an important dimension to our ambition to build one customer-centric platform, a go-to place for financial needs," said Ralph Hamers, CEO of ING Group. "Adding personalized protection products that are life-stage driven, will ensure we keep our customers ahead in life, empowering them to stay in control, in line with their widening demands. The initiative will also contribute to diversify our income. We are excited to embark on this journey with AXA and we are united in our vision. We believe that, between our leading digital banking capabilities and AXA's unparalleled insurance expertise, we will be able to build an international platform of significant value to our customers."
"We are excited about the opportunity to partner with ING to deliver a significant step change in the future of digital insurance solutions, leveraging our joint digital capabilities and innovative assets, and providing a differentiated customer experience to address ING customers' protection needs', said Thomas Buberl, CEO of AXA . 'The partnership with ING represents a strong meeting of minds and a shared ambition of becoming a partner in our customer's life journey. This is another key step in AXA's transformation, fully aligned with our payer-to-partner strategy. We will indeed accelerate our growth in Europe and build innovative insurance solutions and services that have the potential of creating more frequent interactions with the customers".
1 With the support of local insurance partners
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| ING PROFILE ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. The purpose of ING Bank is empowering people to stay a step ahead in life and in business. ING Bank's more than 51,000 employees offer retail and wholesale banking services to customers in over 40 countries. ING Group shares are listed on the exchanges of Amsterdam (INGA AS, INGA.AS), Brussels and on the New York Stock Exchange (ADRs: ING US, ING.N). Sustainability forms an integral part of ING's strategy, evidenced by ING's ranking as a leader in the banks industry group by Sustainalytics. ING Group shares are included in the FTSE4Good index and in the Dow Jones Sustainability Index (Europe and World), where ING is also among the leaders in the banks industry group. IMPORTANT LEGAL INFORMATION Elements of this press release contain or may contain information about ING Groep N.V. and/ or ING Bank N.V. within the meaning of Article 7(1) to (4) of EU Regulation No 596/ 2014. Projects may be subject to regulatory approvals. Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to a number of factors, including, without limitation: (1) changes in general economic conditions, in particular economic conditions in ING's core markets, (2) changes in performance of financial markets, including developing markets, (3) potential consequences of European Union countries leaving the European Union or a break-up of the euro, (4) changes in the availability of, and costs associated with, sources of liquidity such as interbank funding, as well as conditions in the credit and capital markets generally, including changes in borrower and counterparty creditworthiness, (5) changes affecting interest rate levels, (6) changes affecting currency exchange rates, (7) changes in investor and customer behaviour, (8) changes in general competitive factors, (9) changes in laws and regulations and the interpretation and application thereof, (10) geopolitical risks and policies and actions of governmental and regulatory authorities, (11) changes in standards and interpretations under International Financial Reporting Standards (IFRS) and the application thereof, (12) conclusions with regard to purchase accounting assumptions and methodologies, and other changes in accounting assumptions and methodologies including changes in valuation of issued securities and credit market exposure, (13) changes in ownership that could affect the future availability to us of net operating loss, net capital and built-in loss carry forwards, (14) changes in credit ratings, (15) the outcome of current and future legal and regulatory proceedings, (16) operational risks, such as system disruptions or failures, breaches of security, cyber attacks, human error, changes in operational practices or inadequate controls including in respect of third parties with which we do business, (17) the inability to protect our intellectual property and infringement claims by third parties, (18) the inability to retain key personnel, (19) business, operational, regulatory, reputation and other risks in connection with climate change, (20) ING's ability to achieve its strategy, including projected operational synergies and cost-saving programmes and (21) the other risks and uncertainties detailed in the most recent annual report of ING Groep N.V. (including the Risk Factors contained therein) and ING's more recent disclosures, including press releases, which are available on www.ING.com. Many of those factors are beyond ING's control. Any forward looking statements made by or on behalf of ING speak only as of the date they are made, and ING assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason.Any forward looking statements made by or on behalf of ING speak only as of the date they are made, and ING assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason. This document does not constitute an offer to sell, or a solicitation of an offer to purchase, any securities in the United States or any other jurisdiction. | ||
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