DAVAO CITY: The first online insurance store is eyeing overseas Filipino workers (OFWs) as market for its first online application to avail of products they can invest in while abroad.
The AXA ION or AXA Insurance Online is the first online life insurance store to offer services and products for overseas workers who can now access the most basic financial products to help them secure their financial future in a transparent, easy and affordable way.
AXA Philippines segment marketing director Maya del Rosario said targetting the OFWs for these services is just accidental because anybody can gain access to the online application.
She said based on their market study some OFWs after years of hard work come home to settle into the same economic status and lifestyle before they left the country. She said families were unable to save because their income from abroad proved insufficient for the family’s growing needs.
“With the online insurance store, they now have an option that can be accessed easily with regard to their financial concerns while gainfully employed abroad,” she said.
“The products are affordable and make up the AXA eXentials line,” she said, adding that it is designed to be within reach with premium starting at P1,000 monthly.
The four products are Health eXentials, Savings eXentials, Academic eXentials and Life eXentials. Of the four, she said the Academic eXentials is the most sought after product by thier OFWs.
She said of the hundred applications they have at hand after the product was launched in September 2014, majority are from OFWs.
“I think OFWs are becoming interested about the online application because it is more accessible for them,” she said, adding that since the launching of the online application in September last year majority of those interested were OFWs.
The prospective applicant will just log on to the website of AXA ION or at www.axaion.com.ph
Del Rosario said the online transaction can be completed with AXA Philippines personnel who makes online calls to validate the transaction. The policy will be sent to the insured OFW either to the address of the member or through his email address.
“We hope that with these products that can be accessed online will provide OFWs better options where to invest their money,” she added.