AXA Partners UK & Ireland is continuing its entrance into the consumer electronics space, announcing a new relationship with leading mobile phone and gadget insurance provider, Insurance2go, owned by Loyal Insurance Services Ltd, part of the SPB UK & Ireland Group, to support the brand’s growth in existing and new markets.
With a global market value of £23bn, the smartphone insurance market continues to grow 12% year-on-year. Whilst smartphone penetration amongst UK adults has plateaued, the development of more expensive £1000+ smartphones means the need to insure has continued to grow.
AXA Partners UK&I has been appointed to underwrite Insurance2go’s gadget insurance policies from 1st May. This new collaboration will look to enhance the brands existing suite of products and services with a view to developing new propositions as Insurance2go adopts a digital transformation programme focused on meeting the needs of the 21st century customer.
Speaking about the partnership, Gary Vincent, Sales Director at AXA Partners UK & Ireland, said: “Entering this new partnership with Insurance2go is very exciting for AXA Partners. A key factor that helped to cement our collaboration is a shared goal to provide a range of quality products, and to ensure full peace of mind by enhancing the customer experience.
“The new partnership is testament to our proficiency and proven capabilities. We believe that this will further reinforce our position in the growing consumer electronics market, and we very much look forward to working closely with Insurance2go to achieve their ambitions in the years ahead.”
Commenting on the new partnership, Lorraine Higham, Managing Director at Loyal Insurance Services Ltd, commented: “As one of the original specialist smartphone insurance brands, our ethos has always been to go above and beyond in relation to delivering a truly excellent service to our customers. We have decided to take this opportunity to align with a new strategic partner whose vision and aspirations match our own.
“Our continued focus on innovation and growth will provide customer choice, flexible payment options and variable excesses together with a seamless end to end claims and fulfilment journey. As a trusted insurance partner, we are delighted to announce AXA Partners as our chosen provider to support our strategic goals for 2021 and beyond.”