UAE Exchange partners AIG for travel insurance for gocash cardholders

Press release

Published November 14th, 2013 - 07:25 GMT

Al Bawaba

Cardholders of gocash, the first six-currency prepaid travel card from UAE Exchange, can now travel with more peace of mind, as there is yet another convenience coming their way. The leading remittance and foreign exchange brand is joining hands with AIG, a leading international insurance organisation, to provide travel insurance to gocash cardholders. With this new agreement, customers travelling using a gocash prepaid travel card are covered for travel inconveniences, personal accident benefits, free medical benefits, round-the-clock assistance and more.

Speaking on the occasion, Mr. Promoth Manghat, Vice President – Global Operations, UAE Exchange, said. “This kind of partnership for free insurance coverage is a first-of-its-kind arrangement in its class. UAE Exchange has once again set a standard and retained its position as a trendsetter in bringing the best to its customers. Towards this, we found the right partner in AIG. Both UAE Exchange and AIG carry high equity and trust amongst the customers. Such an offering is sure to receive a warm welcome. We take pride in partnering with AIG and look forward to transforming this relationship into a strong and meaningful one.”

Mr. Chandra Shekhar, Head of Consumers, AIG, Arabia, said, “AIG always looks for opportunities to add value and convenience to customers and in partnering with UAE Exchange, we are able to do this, as they share our values and approach. The gocash card is for the new generation of travellers and AIG understands their needs perfectly. Together with UAE Exchange, we can provide real protection for gocash cardholders, when they travel.”

In one go, gocash can be loaded with up to six currencies from a bouquet of 15. This hassle-free travel card comes from the trusted remittance brand, UAE Exchange, which has a principal membership with MasterCard. This enables the gocash cardholder to withdraw cash from over 1.9 million MasterCard-powered ATMs, make purchases from over 34.3 million merchant locations with MasterCard-powered POS machines and can be used online. Its exchange rate lock facility saves travellers from losing to currency rate fluctuations. Additionally this new travel insurance facility will make the trip more enjoyable and hassle-free.

The event for signing the agreement was attended by senior officials of UAE Exchange and AIG, along with special invitees and the Media.

Background Information

UAE Exchange

With a presence in more than 31 countries, UAE Exchange is a leading global remittance, Foreign Exchange and payment solutions brand. We are committed to provide our more than 15 million customers, with multiple financial solutions at one counter. With a team of 9000 employees, we operate in some of the world’s dynamic markets, and strive to offer our customers a wide range of financial products and solutions. With a focus on innovation and new product development, we are poised to help you address all your financial needs under one roof.