Assurant Repurposes its 100 Millionth Mobile Device

Rhea-AI Summary

Assurant (NYSE: AIZ) has successfully repurposed its 100 millionth mobile device, showcasing its commitment to sustainability. This achievement reflects operations from both Assurant and its acquisition, HYLA Mobile. The company’s practices have diverted over 20,000 metric tons of e-waste and offset 5.5 million metric tons of CO2 emissions, enhancing connectivity for millions. In 2020, Assurant recycled 1.5 million phones, recovering valuable metals and injecting approximately $11 billion into the global economy through device trade-ins.

Positive

• Repurposed 100 million mobile devices, promoting sustainability.
• Diverted 20,412 metric tons of e-waste from landfills.
• Offset 5.5 million metric tons of CO2 emissions.
• Put approximately $11 billion back into consumers' pockets through device trade-ins.

Negative

• None.

Assurant (NYSE: AIZ), a leading global provider of lifestyle and housing solutions that support, protect and connect major consumer purchases, today announced it has repurposed its 100 millionth mobile device underscoring the company’s commitment to sustainability. This milestone reflects the devices transacted by the Trade-in and Upgrade operations of Assurant and the company it acquired last year, HYLA Mobile.

Assurant processes millions of mobile devices each year, repairing or reselling them while adhering to rigorous environmental practices. The company also recycles devices through certified partners, reuses valuable materials and reduces the amount of e-waste dumped in landfills. The result is a win-win-win for Assurant’s customers, clients and the environment.

“Extending the life of 100 million devices is not only a gratifying achievement but also reflects the direct alignment with our strategy and integration of sustainable practices throughout our operations,” said Biju Nair, EVP and President, Global Trade-in and Upgrades, at Assurant. “These solutions enable us to help consumers, benefit our clients and reduce environmental impact. This is particularly true of our Trade-in and Upgrade programs which keep millions of used phones out of landfills.”

Extending the life of 100 million mobile devices equates to diverting 20,412 metric tons of e-waste from landfills, offsetting 5.5 million metric tons of CO2 emissions and has resulted in improved connectivity globally for tens of millions of people who have benefitted from the affordability of upgrading to higher-end smart phones.

In 2020 alone, Assurant recycled approximately 1.5 million phones, resulting in the recovery of an estimated 52,500 pounds of copper, 1,158 pounds of silver, 113 pounds of gold and 50 pounds of palladium. These precious metals were kept from being discarded in landfills and helped to reduce the need for new mining of materials.

In addition to the environmental benefits of its device trade-in and upgrade activities, Assurant’s programs have helped the global economy by putting approximately $11 billion back in the pockets of consumers in exchange for their used devices. Often, people put that money towards upgrading to a new phone with accessories and protection, which further promotes a longer life for devices.

Beyond mobile device refurbishment and recycling, Assurant partners with many of the world’s leading brands to find sustainable risk management solutions for a wide array of problems that affect people in day-to-day life — such as natural disasters, car repairs or broken appliances. See the infographic that highlights Assurant’s environmental processes and sustainability impact.

More information about the company’s environmental, social and governance (ESG) commitment is available in the Assurant 2021 Social Responsibility Report.

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; pre-funded funeral insurance; 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/20210422005202/en/

FAQ

What milestone has Assurant achieved with mobile devices?

Assurant has repurposed its 100 millionth mobile device, highlighting its commitment to sustainability.

How much e-waste has Assurant diverted from landfills?

Assurant has diverted over 20,412 metric tons of e-waste from landfills through its programs.

What are the environmental impacts of Assurant’s mobile device operations?

Assurant's operations have offset 5.5 million metric tons of CO2 emissions and promoted recycling, recovering valuable metals.

How much money have consumers received through Assurant's trade-in programs?

Assurant's trade-in programs have returned approximately $11 billion to consumers.