AXA news (travel insurance with Premium)

Not clear from this article if the Monzo travel insurance would be affected by this news that AXA are stopping selling their own-brand policies, but one to keep an eye:

Money Saving Expert

It states within the article:

AXA will, however, continue to underwrite policies provided by third parties

I’m happy to be corrected, but I see Monzo as a third party for who Axa underwrites insurance.

Monzo isn’t on the list provided my MoneySavingExpert so it might be good to know more, but that can’t be an exhaustive list of every third party a company the size of Axa underwrites.

I would have thought that but then I would also have worded it in the article as “third parties include” rather than “which are” so I can see some confusion arising from that.

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Personally I don’t think that monzo premium is just underwritten by axa, but is actual axa insurance sold by monzo, so would fall under this paragraph:

This applies regardless of whether you took out your policy directly via AXA or through a comparison site or third party.

Edit to add: the monzo premium page says the travel insurance is “provided by AXA”, rather than underwritten.


Monzo’s Premium Card AXA terms state:

[…] those benefits is enabled by an insurance policy held by and issued to Monzo Bank by Inter Partner Assistance.

Monzo Bank is the only Policyholder under the insurance Policy and only it has direct rights against the insurer under the policy. […]

So, are AXA actually not having anything to do with this insurance? Is their public facing site misleading?

I don’t understand much about insurance, so honest question.

That’s my understanding too.

But also, they are stopping B2C sales, unclear if they are also stopping B2B sales, I think they probably won’t.

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Monzo’s policy is underwritten by Inter Partner Assistance S.A. UK Branch, which is part of the AXA Group.

Different parts of the group can have different business objectives. The AXA retail face might be withdrawing from providing travel insurance, but it probably will keep underwriting the insurance of other parts of the group for their business needs, like it is doing for the external third party travel insurance providers like Halifax.

It uses the AXA brand as it is an AXA insurance policy and AXA is better known to a consumer. It would probably be best for Monzo to clarify it as that article has some ambiguity as @coffeemadman states


Plenty of insurance companies don’t sell direct but rather sell via third parties or brokers.

The insurance company I work for, sell most of their products indirectly.

So Monzo will get a commission for each sale but in the event of claim, you’ll be either be passed to a claims handling company or the underwriter itself. In many cases people don’t know they’re dealing with another firm, especially if it’s an affinity type product. This would be like John Lewis house insurance, everything is branded and all calls with give you the impression you’re speaking with John Lewis but you’re not.