In an effort to better serve its customers, Assurant Solutions, a unit of Assurant Inc. ( AIZ), has rolled out enhanced mobile protection coverage.
This coverage will be available for U.S. Cellular customers. The service is named as Device Protection+. Along with giving protection to mobile devices it will also cover other mobile devices such as phones, tablets, modems, mobile hotspots and home phones (fixed wireless terminals).
Device Protection+ protects the U.S. Cellular customers in case of mobile mishaps, like accidental damage from breaks and spills, loss, theft and mechanical or electrical breakdown to the extent that protection will be available after the expiration of manufacturer’s warranty.
Customers will be able to get coverage for smartphones and tablets for $8.99 per month per device while coverage for other phones, modems, hotspots and home phones will be available at $6.99 per month per device.
Assurant Solutions contributed 38% to the company’s earned premium in 2012 up from 36% in 2011, and is a leader in providing mobile protection coverage. Such initiatives further solidify its leadership presence. Also, with sustained focus on strengthening its portfolio and thus better serve its customers, we expect the momentum to continue.
Assurant serves mobile customers in 16 countries, reflecting its expanded capabilities and global footprint. The company also has a partnership with Telefónica, a large Argentine telecom operator.
This initiative by the company is in sync with its growth target in domestic and international extended service contracts. The company is making a steady progress in its mobile franchise. In July, the company announced a fee-based relationship with T-Mobile through the company’s JUMP!TM phone upgrade program.
Assurant Solutions will be responsible for administering mobile protection services to Jump! program subscribers against loss, theft, accidental damage and malfunction. The company also has relationship with Sprint ( S) through which it serves Boost Mobile and Virgin Mobile.
Assurant currently carries a Zacks Rank #3 (Hold). Other players – Eastern Insurance Holdings, Inc. ( EIHI), FBL Financial Group Inc. ( FFG), Kemper Corporation ( KMPR) all with Zacks Rank #1 (Strong Buy) are worth investing.
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