Bitcoin adaptation continues. All AXA private customers now have the option of paying insurance premiums for all property insurance products in Bitcoin.
Europe’s second largest insurance group AXA now offers its customers the possibilityto pay their bills with Bitcoin (BTC). This is made possible by a collaboration with the established crypto broker Bitcoin Suisse. AXA accepts bitcoin payments for almost all of its products. Life insurance is an exception, however, due to regulatory requirements. The Swiss insurance group Atupri was the first to accept Bitcoin payments, but it specializes purely in health insurance.
AXA has cited the accelerated digital transformation of the global economy during the coronavirus pandemic as a key factor in the decision to integrate cryptocurrency into their payment processes. However, the insurer notes that it had already carried out market research on this topic in 2019. The result was that around a third of those surveyed between the ages of 18 and 55 either already owned cryptocurrencies or were interested in a corresponding investment.
[die Akzeptanz von Bitcoin-Zahlungen ist] AXA’s response to the growing demand from its customers for alternative payment solutions, with new technologies playing an increasingly important role,
says Claudia Bienentreu, Head of Open Innovation at AXA Switzerland.
Axa does not charge Bitcoin payment fees
When it comes to payment, customers have an easy time of it. An online transfer with a reference number is sufficient. The amount owed in Swiss Francs is converted into Bitcoin. The specified exchange rate remains valid for a certain period of time. During this time window, customers do not bear any exchange rate risk. AXA also does not charge any additional fees for Bitcoin payments.
These payments will go to the crypto trader Bitcoin Suisse. However, the latter retains a commission of 1.75 percent when calculating the exchange rates for AXA customers.