AXA has announced a partnership with Alibaba and its financial arm, Ant Financial. AXA plans to market warranty and payment protection on Alibaba's international site, while Ant Financial will start offering AXA travel insurance for Chinese tourists.
For Alibaba, the deal is a way to reassure its small but growing number of international customers who regularly read stories in the international press about fake products and brand copies flooding Alibaba’s biggest market at home, Taobao.com. On its global site AliExpress, the hope is that AXA’s products for extended warranties and repairs may coax more customers into trying the platform. “Our collaboration with industry-leader AXA is a key part of Alibaba’s globalization strategy and our vision to enable small businesses and consumers alike to enjoy the convenience and benefits of e-commerce in a safe trading environment,” Michael Evans, President, Alibaba Group, said in a release.