Illusions (iOL) and AXA launch a strategic partnership to offer a unique embedded travel insurance solution for its global clients

Illusions (iOL) and AXA launch a strategic partnership for travel insurance.

 

Illusions (iOL) is a global technology company powering the travel industry with its 3 key verticals: powerful automation with iOL Enterprise suite of solutions, iWTX (iOL X), a connectivity & distribution marketplace and iOL Pay, a global payment processing platform-as-a-service. With over 20 years of experience meeting the needs of the travel industry across five continents, and winner of numerous travel technology awards, Illusions (iOL) is a global leader in supplying its enterprise solutions to Hotels, Tour Operators, Travel Agents and Destination Management Companies.

iOL Enterprise suite of solutions have been powering the end-2-end needs of the leisure travel industry for delivering product management, CRM, booking engines & back end automation to complex industry-specific functionalities. This is supported by Illusions World Travel Exchange (iWTX / iOL X), the biggest B2B marketplace for hospitality companies, simplifying connectivity & distribution of dynamic and static rates to its global network of partners. During the CoVID-19 downtime in travel, Illusions (iOL) launched a brand new vertical, iOL Pay to power the complete payment processing needs on a global scale for our global customers.

The global strategic partnership with AXA enables Illusions (iOL) to embed travel insurance products within its platforms and facilitate its customers to expand service offerings and provide further safety, convenience and assurance to travelers around the world.

As early as June 2021, this partnership with AXA will enable bookings through Illusions (iOL) platforms to be automatically covered for support to reach home or emergency medical including Pandemic coverage. This will allow Illusions (iOL) customers and their guests to benefit from the highest level of care thanks to the expert Travel Insurance solutions of AXA Partners, AXA’s international entity specialized in assistance services, travel insurance

“We are excited to emerge post CoVID with a more focused approach for delivering end to end offerings to our customers. Our partnership with AXA enables Illusions (iOL) to provide an out-of-the-box global insurance platform for our clients. We look forward to our partnership with AXA & helping our partners worldwide - hotels, tour operators, DMCs and travel agents, offer embedded travel insurance solutions across the Illusions (iOL) Universe.” said Faisal Memon, CEO & Founder of Illusions (iOL).

"Adelane Mecellem, CEO AXA Partners Asia, Middle-East, Africa and Turkey added: “We are proud to partner with a global actor of the travel industry offering a wide range of services and willing to add a new level to its value proposition by providing its travelers with a real peace of mind."

 

About Illusions (iOL)

Illusions Online (iOL) was established in 1997 by entrepreneur Faisal Memon, to modernize and automate the complex task of creating, distributing and delivering dynamically packaged travel and destination activities.

In 2010, Illusions (iOL) saw an opportunity to make the hotel, tour, transfer and package content it holds available to its own clients and third parties to trade (book), effectively creating the first online global B2B marketplace for land-based travel, named iWTX (iOL X). Since its inception, iWTX has transformed into a worldwide distribution platform for leading global hotel chains, who are pushing both static and dynamic inventory to the iWTX extended network of travel industry buyers. iWTX (iOL X) is the world’s first, truly global, land-based travel marketplace – connecting all levels of the industry in a free-market environment.

iOL Pay, its latest vertical was launched in 2020, to provide a global payments-as-a-platform solution including acquiring, issuing, FX & remittances. This is revolutionizing the traditional payments space by providing a sophisticated technology stack with a global payment gateway solution, automating manual and costly processes while driving down cross border fees for the travel industry, resulting in improved conversions and bottom line for its partners.

 

About AXA Partners

AXA Partners is an AXA global business unit offering a wide range of solutions in assistance services, travel insurance and credit protection. AXA Partners’ role is also to implement innovative solutions emerging from the AXA Innovation unit.

Our mission is to help our Corporate clients to enrich their customers’ experience, with more than 9,000 employees at their service anywhere, anytime.