LONDON – December 13, 2018 – SquareTrade, the global insurtech provider, today announced the significant value its mobile device protection service has delivered to major European retailer, MediaMarkt. Since April 2018, SquareTrade-powered device protection services have allowed MediaMarkt to broaden its offering to consumers in Spain and Portugal substantially – with increased policy flexibility, next day replacement services, and a seamless automated online claims process. This has led to significant benefits for MediaMarkt, from an increase in revenue tied to insurance services, to a boost in the duration of the customer lifecycle driven by the ability to extend an insurance subscription for as long as needed. The SquareTrade offer has also contributed to a significant improvement in customer experience, as demonstrated by thousands of 5-star independent online reviews. MediaMarkt is focusing on the partnership with SquareTrade as a critical differentiator in the run-up to Christmas, the retail calendar’s busiest period.
MediaMarkt chose SquareTrade to enable its Garantía Plus Móvil service in Spain and Garantia Mais Telemóvel service in Portugal. It sought a specialist insurance provider to afford it the flexibility to cater to changing consumer expectations, with the resulting services allowing its customers to benefit from rapid repairs and seamless experience. SquareTrade’s technology allows MediaMarkt to offer customers an easy and hassle-free digital claims experience, enabling them to file a claim and receive approval in just a few minutes. Customers can also choose to get support in store with filing a claim or cancelling the plan. The insurtech provider has also increased the flexibility of MediaMarkt’s policy offerings, allowing customers to choose monthly billing options rather than being tied to fixed annual plans, and avail of new services such as next-day device replacement anywhere in the EU.
“Our partnership with MediaMarkt in Spain and Portugal brings our innovative services to new regions and we are thrilled to enhance the insurance experience for its customers,” said Kevin Gillan, Managing Director, Europe, SquareTrade. “On average, our sales are 35-40% higher in December, making this period critical for differentiation and the ability to offer an exceptional experience. We’ve made excellent progress in our first few months of partnership with MediaMarkt – allowing them to offer flexible plans to suit all eventualities and driving real value. Now we’re gearing up for the festive season, and look forward to helping MediaMarkt to raise the bar even further in terms of the quality of customer experience it offers.”
SquareTrade, an Allstate company, is a highly rated protection plan provider trusted by millions of customers for its fast and efficient service. SquareTrade protects mobile devices, laptops and tablets, and other consumer electronics and appliances from malfunctions, accidental damage and life’s frequent mishaps. A member of the Allstate family, SquareTrade is headquartered in San Francisco and London. For more information, go to www.squaretrade.com.
Anais Merlin/Florie Lhuillier
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