May 26, 2021
Mobile device insurance: Back Market launches new eco-responsible offer in partnership with BNP Paribas Cardif and i-surance
Back Market, the first marketplace for refurbished devices, is teaming with insurer BNP Paribas Cardif and insurtech i-surance to launch a new insurance offer for refurbished smartphones, tablets and laptops, with support from affinity program specialist ARROS. Initially available in France, Spain and Germany, this new offer will progressively be rolled out in several other European markets.
Consumer habits are evolving, and people are increasingly motivated by a desire to reduce the environmental impact of their purchases and consume sustainably. Demand for refurbished devices is surging: four out of five consumers in France say they would consider buying a pre-owned device or keeping their own device longer1.
Back Market, a specialist in refurbished devices with 5 million customers, has decided to team with insurtech i-surance and insurer BNP Paribas Cardif to propose new services for its customers.
Fast and easy service for a frictionless customer experience
The insurance offered by Back Market covers refurbished mobile devices against everyday risks such as breakage, rust or theft. The insurance also covers accidental damage or damage due to negligence.
Claims can be submitted 24/7 via a dedicated website, creating a very simple and fast customer experience. To resolve claims, priority is placed on repairs. Simple repairs are done by a certified local repair partner to make the process easy for policyholders. Insurtech i-surance has some 300 centers per country to ensure convenient local access. For more complicated repairs, customers can send their device to a specialized technical center. If the device cannot be repaired, or in the event of theft, policyholders receive a voucher that can be used to purchase a replacement device on the Back Market site.
An eco-responsible initiative that promotes the circular economy
By placing priority on repairs, the partners are actively promoting the circular economy. To take this eco-responsible approach even further, i-surance offers reductions of up to 50% to replace smartphone batteries that need changing, thus extending the lifetime of the device. What’s more, customers who sign up for the insurance cover will be offered a free biodegradable screen protector and case to keep their phone in its initial condition as long as possible. Choosing a refurbished smartphone over a new one and replacing devices as infrequently as possible both make a significant individual contribution to reducing environmental impact.
This new insurance offer is part of a broad social and environmental responsibility program. Together, the three partners have also committed to donating 1 euro for each new policy subscribed to Wings of the Ocean2, an NGO that develops initiatives to clean up oceans and raise public awareness of the consequences of plastic pollution in oceans.
“This new offer perfectly illustrates our vision of helping people see that there is no longer any reason to buy new products by enabling them to enjoy an equivalent purchase experience. This allows us to heighten consumer confidence in refurbished products and eliminate barriers associated with this market,” explains Thibaud Hug de Larauze, CEO and cofounder of Back Market.
“By working with Back Market on this new offer to create easy-to-use insurance cover, we’re proud to be making insurance more accessible to buyers of refurbished devices and to encourage eco-responsibility,” says Baptiste Auffret, Affinity Partnerships Director, BNP Paribas Cardif France.
“With this Back Market offer we’re opening new horizons in the insurance space. Customers benefit from comprehensive coverage plus additional eco-responsible services, all with a 100% customer centric, digital experience,” states Ruxandra Bogdan, CEO of i-surance.
1Survey on digital devices | Arcep
2Wings of the Ocean is a non-profit association created in 2018 that carries out actions to clean up oceans and protect coastal ecosystems
in France and the rest of Europe. The organization also educates the population about plastic pollution and encourages both individuals and
businesses to avoid using plastic.