Assurant Extends Longstanding T-Mobile Partnership with New Multiyear Agreement

Rhea-AI Summary

Assurant, Inc. (NYSE: AIZ) has announced a multiyear extension of its partnership with T-Mobile, enhancing mobile device protection solutions. The collaboration has evolved over ten years, now including device repair services through Assurant's nearly 500 Cell Phone Repair locations. CEO Keith Demmings emphasized their shared commitment to customer experience and innovation. The transition is expected to have a neutral impact on 2022 operating results, with prospects for greater scale in the future.

Positive

• Extended partnership with T-Mobile provides comprehensive mobile protection solutions.
• Inclusion of device repair services at nearly 500 Assurant locations enhances customer experience.
• Long-standing collaboration may lead to increased scale and service offerings for T-Mobile customers.

Negative

• Transitioning to CPR locations may incur costs affecting short-term operational results, although expected to be neutral.

Continuing to focus on enhancing the mobile customer experience

NEW YORK--(BUSINESS WIRE)-- Assurant, Inc. (NYSE: AIZ), a leading global business services company that supports, protects and connects major consumer purchases, announced today a multiyear extension of its long-standing partnership with T-Mobile to continue providing comprehensive mobile device protection solutions.

Over the last ten years, the two companies have leveraged innovation and agility to enhance the device ownership experience for customers. Initially starting with trade-in and expanding to device protection, the relationship has broadened to offer additional value through upgrade and repair services, premium tech support and on-device diagnostics.

Starting in October, T-Mobile’s device repair program will be offered at Assurant’s nationwide network of nearly 500 Cell Phone Repair (CPR) by Assurant locations.

“We’ve been privileged to partner with T-Mobile to offer customers the broadest array of service and support options in the industry. Together, we’ve introduced several market-leading innovations, which revolutionized many aspects of the wireless protection industry and significantly enhanced the customer experience,” said Assurant President and CEO Keith Demmings. “We look forward to continuing to evolve our products and services to meet the everchanging needs of connected consumers.”

"T-Mobile customers deserve best-in-class experience and unbeatable service — and that's what we'll continue to deliver when they visit our T-Mobile stores," said Jon Freier, president of T-Mobile Consumer Group. "When customers need the fast, personalized device repairs they've come to expect from Protection<360>, Assurant locations across the country will be ready to take care of them!"

Assurant expects the impact of these changes, including costs to support the transition from the current in-store setup to CPR locations, to be neutral to operating results in 2022. Over the long term, Assurant expects to continue to benefit from greater scale across the suite of services provided to T-Mobile’s customers.

About Assurant
Assurant, Inc. (NYSE: AIZ) is a leading global business services company that supports, protects and connects major consumer purchases. A Fortune 500 company with a presence in 21 countries, Assurant supports the advancement of the connected world by partnering with the world’s leading brands to develop innovative solutions and to deliver an enhanced customer experience through mobile device solutions, extended service contracts, vehicle protection services, renters insurance, lender-placed insurance products and other specialty products.

Learn more at assurant.com or on Twitter @Assurant.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20220926005188/en/

Media:

Linda Recupero

Senior Vice President, Global Enterprise Communications

Phone: 201.519.9773

linda.recupero@assurant.com

Andy Mus

Director, External Communications

Phone: 404-840-4185

andy.mus@assurant.com

Investor Relations:

Suzanne Shepherd

Senior Vice President, Investor Relations and Sustainability

Phone: 201.788.4324

suzanne.shepherd@assurant.com

Sean Moshier

Vice President, Investor Relations

Phone: 914.204.2253

sean.moshier@assurant.com

Source: Assurant, Inc.

FAQ

What is the significance of Assurant's partnership with T-Mobile?

Assurant's extended partnership with T-Mobile enhances mobile protection solutions and includes device repair services.

How many Cell Phone Repair locations does Assurant have?

Assurant operates nearly 500 Cell Phone Repair locations across the country.

What is the expected impact of the partnership on Assurant's 2022 operating results?

The changes are anticipated to have a neutral impact on Assurant's operating results for 2022.

What innovations have Assurant and T-Mobile introduced?

Assurant and T-Mobile have introduced market-leading innovations that enhance the device ownership experience.