Assurant Launches Comprehensive Trade-in Program in Partnership with Telefonica Group

Rhea-AI Summary

Assurant (NYSE:AIZ) has expanded its partnership with Telefonica Group to enhance their trade-in services for devices. This collaboration will leverage Assurant's proprietary technology to offer diagnostics, trade-in management, and pricing analytics across multiple channels including stores and online platforms. Telefonica, serving over 360 million customers globally, aims to improve customer retention and promote environmental sustainability through responsible device recycling. In 2020, Assurant recycled approximately 1.5 million phones, recovering significant amounts of precious metals.

Positive

• Expanded partnership with Telefonica enhances trade-in program capabilities.
• Utilization of proprietary technology for diagnostics and trade-in management.
• Potential for increased customer retention through improved trade-in services.
• Positive environmental impact from recycling efforts, recovering precious metals.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- Assurant (NYSE:AIZ), a leading global provider of lifestyle and housing solutions that support, protect and connect major consumer purchases, today announced the expansion of its partnership with the Telefonica Group to provide a comprehensive trade-in program, which will include on-device app and web browser based diagnostics, trade-in services, and device pricing analytics across all their distribution channels — owned stores, dealers, online channel and third-party dealers.

Telefonica will provide access to trade-in services for smartphones, tablets, laptops, wearables and hearables using Assurant’s patented proprietary platform, which features remote on device app- and web browser-based diagnostics and trade-in transaction management. Following Assurant’s acquisition of HYLA Mobile, a leading provider of smartphone software, trade-in and upgrade services, Telefonica will access advanced, market-leading trade-in technology.

“Trade-in programs are an integral part of the device lifecycle, in addition to supporting the upgrade process, especially as more consumers switch to 5G devices,” said Biju Nair, President of Global Connected Living at Assurant. “The combination of our patented software technology and trade-in platform with our end-to-end mobile device lifecycle management capabilities enables us to develop innovations and promote sustainable practices that benefit Telefonica and its customers.”

Assurant will partner with Telefonica across its geographical footprint, including its strategic markets in Spain, UK, Germany and Brazil, where Telefonica is a market leader. Telefonica serves more than 360 million customers around the world.

“As a market leader for device trade-in with proven innovative and seamless digital platforms and global supply chain disposition capabilities, Assurant is providing the Telefonica Group with advanced, leading-edge solutions to deliver a best-in-class customer experience in each of our markets,” said Fernando Valero, Global Supply Chain Director, Telefonica.

Trade-in programs help consumers by putting money back in their pockets in exchange for their used devices, benefit wireless providers by increasing customer retention and reduce environmental impact by keeping millions of used phones out of landfills. In 2020 alone, Assurant recycled approximately 1.5 million phones, resulting in the recovery of an estimated 23,815 kilos of copper, 525 kilos of silver, 51 kilos of gold and 22 kilos of palladium. These precious metals were kept from being discarded in landfills and helped to reduce the need for new mining of materials.

About Assurant

Assurant, Inc. (NYSE: AIZ) is a leading global provider of lifestyle and housing solutions that support, protect and connect major consumer purchases. Anticipating the evolving needs of consumers, Assurant partners with the world’s leading brands to develop innovative products and services and to deliver an enhanced customer experience. A Fortune 500 company with a presence in 21 countries, Assurant offers mobile device solutions; extended service contracts; vehicle protection services; renters insurance; lender-placed insurance products; and other specialty products. The Assurant Foundation strengthens communities by supporting charitable partners that help protect where people live and can thrive, connect with local resources, inspire inclusion and prepare leaders of the future.

Learn more at assurant.com or on Twitter @AssurantNews

View source version on businesswire.com: https://www.businesswire.com/news/home/20220106005110/en/

Media:

Linda Recupero

Senior Vice President, Enterprise Communication

Phone: 201.519.9773

linda.recupero@assurant.com



Investor Relations Contacts:

Suzanne Shepherd

Senior Vice President, Investor Relations and Sustainability

Phone: 201.788.4324

suzanne.shepherd@assurant.com



Sean Moshier

Assistant Vice President, Investor Relations

Phone: 914.204.2253

sean.moshier@assurant.com

Source: Assurant, Inc.

FAQ

What is Assurant's latest partnership announcement?

Assurant has expanded its partnership with Telefonica Group to enhance trade-in services for devices.

How does Assurant's technology benefit Telefonica?

Assurant's technology provides diagnostics, trade-in management, and pricing analytics across various distribution channels.

What environmental initiatives does Assurant highlight?

Assurant emphasizes its recycling efforts, having recycled 1.5 million phones in 2020, recovering precious metals.

What markets will the Assurant and Telefonica partnership cover?

The partnership will cover strategic markets including Spain, the UK, Germany, and Brazil.

How many customers does Telefonica serve globally?

Telefonica serves over 360 million customers worldwide.