July 29, 2016
AXA partners with Alibaba, China’s leader in e-commerce
AXA engaged in a strategic partnership with the Chinese giant Alibaba and its affiliate Ant Financial Services. The objective was to co-innovate and mutually support each other in developing as well as exploring new markets and segments.
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In less than 20 years, Alibaba has become a major player in e-commerce. Founded in 1999, Alibaba has grown into the largest retail commerce company in the world in terms of gross merchandise volume. Ant Financial Services is an Alibaba-affiliate which provides financial services. Alipay, its major online payment service, has more than 900 million users worldwide, and counts 926 transactions per second!
Thomas Buberl
Chief Executive Officer of AXA
This proposed collaboration with Alibaba could provide us with a unique global and direct distribution channel, and we are looking forward to serving Alibaba’s customers and to developing bespoke and innovative insurance products and services for them. Thanks to Alibaba’s unrivaled knowledge of its home market, this partnership will also help us further accelerate our development in China, where we already are the n.1 international insurer.
This partnership is also a great opportunity for Alibaba to expand in new markets and transform its product and services to better serve their customers.
President, Alibaba Group
As cross-border e-commerce grows rapidly, it is critical that we evolve our services and offerings to the businesses and consumers that conduct trade on our platforms. The collaboration between AXA and Alibaba will enable us to create new solutions and ultimately improve the overall customer experience.
