Monzo strikes “long-term” travel insurance partnership with AXA

By Oliver Smith on 19th July 2019

Challenger Banks

All part of the digital bank’s Monzo Plus premium offering.

Monzo strikes “long-term” travel insurance partnership with AXA
Image source: Monzo.

Travel insurance has long been a feature teased for Monzo’s premium subscription offering, Monzo Plus, and it appears the digital bank has picked insurer AXA to be its insurance partner.

Today AXA Partners announced it has entered a “long-term travel insurance deal” with the bank to provide “comprehensive travel insurance” as part of an add-on for Monzo customers.

The travel insurance will be an extra on top of Monzo’s existing £6/month Monzo Plus offering, costing an additional monthly fee of £4.

AXA says the policy includes cover of “medical bills, lost valuables, trip cancellation costs and winter sports – and can cover families”.

Monzo Plus already includes 1.5% interest on balances up to £4,000, an exclusive Monzo Plus coloured card, a custom username, and several discounts and offers.

Monzo’s co-founder Jonas Templestein teased that the partnership with AXA today is only the start of the company’s insurance offering for Monzo Plus customers.

“We are hoping to further build-out our offering very soon, with users being able to pick and choose custom products, including contents and mobile phone insurance,” he said.