AXA announced on Tuesday that it will partner with the Universal Postal Union (UPU) to facilitate the financial inclusion of the world's least privileged citizens through postal networks.

The French insurance giant says the partnership will begin by the end of June, with a joint research program to establish postal insurance models operating worldwide.

On the basis of this work, the two partners will then work to set up a mechanism to provide technical assistance for postal insurance.

The aim is to provide local Posts with technical and financial support so that they can offer inclusive insurance products.

According to AXA, some 1.5 billion people - around 28% of the world's adult population - access financial services through postal networks.

The group adds that 53% of postal networks worldwide are insurance providers, constituting a privileged channel for reaching financially vulnerable people, often with low, irregular and unpredictable incomes.

AXA has set itself the goal of protecting more than 20 million customers worldwide with its insurance products by 2026.

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