Through Omodele Adigun
SympliFi, a UK-based FinTech company and AXA Mansard, a member of the world’s leading insurance and asset management company – AXA; have partnered to offer loan services while also providing access to insurance and healthcare through SympliFi’s digital platform.
A large majority of Nigerians lack access to credit and health care, hampering their ability to improve their livelihoods. The SympliFi-AXA Mansard partnership is based on a common interest in empowering Nigerians to transform their lives and improve their well-being, by enabling them to access essential financial and health services.
SympliFi’s first mobile app of its kind enables Nigerians in the diaspora to help loved ones back home access affordable credit on their own, instead of sending money, by digitally supporting the loan. Thanks to this partnership with AXA Mansard, borrowers on the platform will now also benefit from loan protection insurance to cover them in the event of hospitalization, thus minimizing the financial impact of unforeseen medical emergencies that could affect their ability to repay the loans. .
The benefits offered by the unique insurance offer associated with the loan include a hospital allowance that covers part of the loan payment, a cash payment to help cover hospital costs and life insurance coverage. . The aim is to provide financial support and quality care to clients in the event of illness.
“Access to credit and health care remains out of reach for most Nigerians, so families in the diaspora end up serving as a bank and insurance company for loved ones back home. It is a financial drain on members of the diaspora, while their relatives back home continue to be excluded from the financial system. We wanted to develop an innovative solution to solve the problem transparently, in a win-win way for both parties. Partnering with AXA allows us to do this and is a first step in working together to reinvent the way Nigerians in the diaspora support their loved ones at home, beyond remittances. said Maurice Iwunze, CEO of SympliFi.
Also speaking on the initiative, AXA Mansard Health Ltd CEO Tope Adeniyi said, “We are delighted to partner with SympliFi to provide both easy access to healthcare and fast loans to Nigerians. from the comfort of their cell phone. We will continue to innovate and create new products, thereby enhancing the reach of our product offerings, while continuously improving our service delivery to ensure that we always provide our customers with top-notch service to meet their needs. “