AXA Partners seals long-term insurance deal with Monzo

UK-headquartered challenger bank Monzo has teamed up with AXA Partners. In an announcement by the AXA unit, it said it has sealed a long-term deal that will see it provide comprehensive travel insurance to customers with a Monzo Plus account, which was introduced in April. The account offers extra features, including optional travel insurance for an additional monthly fee. The policy underwritten by AXA Partners covers medical bills, lost valuables, trip cancellation costs, and winter sports. Coverage for families is also available. “We asked our community of users what features they wanted Monzo Plus to include and travel insurance was clearly the top choice,” noted Monzo co-founder Jonas Templestein.