AXA Partners is making its first entry into the UK and Irish mobile phone insurance market through a new and exciting partnership with mobile phone insurance provider Pier Insurance.
The deal sees the two companies join forces to offer mobile phone insurance policies, including under Pier Insurance’s loveit coverit brand, benefitting thousands of new and existing Pier Insurance customers.
The global insurance provider joins Pier Insurance during an exciting period of growth in the industry with 28 per cent of customers taking out insurance on their mobile devices in 2018, compared to only three per cent in 2008.
Toby Stubbington, Managing Director at Pier Insurance, said: “With more than 50 years’ combined experience in mobile phones, we have seen a drastic shift in the way that consumers purchase contracts. Whether buying a phone via their network, a sim-only contract, a second hand or refurbished handset, consumers want to know that their device is secure.
“Customers are at the heart of everything we do, so we created loveit coverit to offer premium policies at great prices. Coupled with an efficient claim process we’re able to provide quality customer care and wanted to be able to offer even more, and AXA Partners was a natural fit.”
With research showing that mobile phone insurance is predicted to be worth £12.95 billion globally in 2019, the new deal will see both partners grow in the mobile phone insurance market, with AXA Partners planning further expansion.
Gary Vincent, Sales Director at AXA Partners, commented: “The mobile phone market has changed significantly in recent years. Not just in the way that phones are purchased, but also in how they have become an intrinsic part of everyday life, to the point where consumers struggle without them.
“As the number one global insurance brand, expanding our European mobile phone insurance expertise into the UK and Ireland for the first time is an exciting prospect, and we are delighted to be doing so with Pier Insurance under the loveit coverit brand.
“We too put the customer at the heart of all we do, so we are looking forward to working with loveit coverit [Pier Insurance] to deliver value-add solutions that meet changing customer needs.”
This latest partnership with Pier Insurance is part of AXA Partners’ ongoing plans for expansion into new markets, including utilities, telecoms and home services, joining forces with innovative brands to deliver value-added services to customers.