Assurant Partners with BuyBack Booth to Bring New Innovation to Retail Device Trade-in Programs

Rhea-AI Summary

Assurant (NYSE:AIZ) has entered a strategic partnership with BuyBack Booth, enhancing its trade-in technology for mobile devices. This collaboration introduces self-service kiosks that leverage AI for device diagnostics and assessments. The kiosks are designed for efficiency, allowing consumers to trade in devices seamlessly across various platforms. This partnership aims to bolster customer experience and sustainability in the mobile device ecosystem.

Positive

• Strategic partnership with BuyBack Booth enhances trade-in technology.
• Introduction of AI-driven kiosks improves customer diagnostics and assessment capabilities.
• Kiosk integration provides a seamless omnichannel experience for consumers.

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• None.

Leveraging BuyBack Booth’s kiosk technology enables Assurant to extend its portfolio of industry-leading trade-in technology to include a low-cost, best-in-class self-service solution designed specifically for carriers and retailers

NEW YORK--(BUSINESS WIRE)-- Assurant (NYSE:AIZ), a leading global business services company that supports, protects and connects major consumer purchases, today announced its new strategic partnership and investment in “Robot-as-a-Service” company A La Carte Media Inc. dba as BuyBack Booth (“BuyBack Booth”). This exclusive partnership is aimed at driving innovation, an expanded and improved customer experience, and better economics for retail mobile device trade-in programs offered by wireless carriers and retailers.

BuyBack Booth provides an innovative, scalable hardware solution that leverages AI diagnostic technology to quickly and accurately assess a mobile device's condition and trade-in value. Designed with security in mind, the kiosks include locked vaults and high-definition cameras to prevent shrinkage. This strategic partnership further expands Assurant’s leading device trade-in technology portfolio and adds BuyBack Booth’s state-of-the-art kiosks as a customer option when powering omnichannel trade-in programs for wireless carriers and retailers.

“As the global leader in mobile device trade-in and upgrade, Assurant continuously invests in technology and capabilities to deliver a better experience for consumers and drive toward a higher level of sustainability for our planet. A kiosk-based solution is another example of innovation that Assurant is bringing to the omnichannel retail experience for our carrier and retail partners globally. As consumers continue to drive trade-in volumes with upgrades to 5G devices, we look forward to deploying this solution to further improve the already industry-leading customer experience we provide for carriers, retailers and their customers,” said Biju Nair, president of Global Connected Living & Head of International at Assurant.

Assurant and BuyBack Booth have designed an industry-leading, compact, low-cost, self-service, retail solution for trade-in programs and in-store diagnostics. These kiosks can readily be incorporated into an existing trade-in ecosystem, including online journeys and point-of-sale platforms, providing a seamless omnichannel experience. Consumers can start their trade-in online, with a rep or at the kiosk and, no matter how they started, they now have the option to use the kiosk to complete the process, providing the consumer with maximum flexibility while freeing up sales staff to focus on selling new services and devices.

“With more than 30 years of kiosk experience and 7 years applying this knowledge in the mobile device space, we’re confident that we have the right fundamentals and technology needed to deliver breakthrough solutions through our partnership with Assurant. I look forward to partnering with Assurant to bring our innovative solutions to wireless carriers and retailers around the world,” said Tony Mastronardi, CEO of BuyBack Booth.

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 @AssurantNews.

About BuyBack Booth
BuyBack Booth has developed the first-ever automated kiosk used specifically to offer accurate, reliable, and objective diagnostic results. BuyBack Booth is a RaaS (Robot as a Service) provider to the smartphone ecosystem. Their App-to-Booth technology easily integrates with any existing trade-in program, producing accurate diagnostics and condition validations right where the customer needs it the most.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220907005116/en/

Press contact

Andy Mus

Director, External Communications

andy.mus@assurant.com

770.763.1694

Source: Assurant, Inc.

FAQ

What is Assurant's new partnership about?

Assurant has partnered with BuyBack Booth to enhance trade-in technology for mobile devices through self-service kiosks.

What does BuyBack Booth offer in the partnership?

BuyBack Booth provides AI diagnostic kiosks that assess mobile device condition and trade-in value.

How does the new kiosk technology benefit consumers?

The kiosks allow for a seamless trade-in process online or in-store, improving customer convenience.

What is the significance of the partnership for Assurant's stock AIZ?

This partnership could lead to increased customer satisfaction and potentially boost Assurant's revenue from trade-in programs.