Munich Re backed Austrian InsurTech start-up, bsurance, has developed a digital insurance solution for kika/Leiner’s furniture stores. The new solution is designed to enable customers to take out extended warranty insurance directly upon purchasing electrical appliances.
bsurance worked closely with kika/Leiner to tailor the insurance product to their customer needs. UNIQA will be acting as the risk carrier.
bsurance was founded in 2017 and has a specialist focus in B2B2C business models in the insurance space. The company’s strategic partners, product providers and risk carriers include UNIQA, Munich Re, AXA Partners, R+V, and Allianz Partners.
kika/Leiner will be taking a more customer orientated approach through possibly taking out extended warranty insurance for electrical appliances. This will be directly at the point of purchase in the 42 furniture stores in Austria.
The insurance cover is available for individual appliances and for built-in appliances when buying a kitchen. The insurance benefits run for 5 years and are valid in addition to the manufacturer’s warranty.
Depending on the respective purchase price, electrical appliance protection is available from as little as 42 cents per month.
Thomas Frassl, Procurement Manager for kitchen built-in appliances at kika/Leiner commented: “We are constantly trying to expand our range of services for customers. With the extended warranty insurance, bsurance has created a product for us that is tailored to the needs of our customers. The cooperation with bsurance was extremely uncomplicated and the result also very satisfying”.
Olivera Böhm, Chief Corporate & Affinity Business Officer at UNIQA added: “An exciting new topic is the cooperation of large companies with insurance companies: This means adding value to the core products of these companies, such as retail stores, through our insurance companies. And customers benefit several times as they can protect their new property against damage quickly, easily and without complications.”
bsurance takes on responsibility for the technical implementation, and thanks to the bsurance insurance platform, all processes are handled digitally. This includes policy creation, premium collection, and claims handling. Additionally, the digital implementation seamlessly supports the sales staff of kika/Leiner.
“Our cooperation with kika/Leiner is the first time we have taken the step from a purely digital application to an omnichannel solution that supports the sales and claims process, including a call centre connection, in the branch and, in future, also in the online store.”
“Especially in times of COVID-19 we see a strong trend towards digitalisation in the retail sector, which we are very happy to support with our digital insurance platform,” said Lorenz Gräff, Chief Executive Officer (CEO) and founder of bsurance.