Companies Partner to Offer A Program Scalable to Millions of Users and Devices
NEW YORK and SEATTLE, November 11, 2020– AmTrust Financial Services, Inc., a leading underwriter of extended service, accidental damage, and loss/theft plans in the consumer technology industry, and Servify, a device lifecycle management company, today announced a partnership to provide Device Protection Programs for Retailers, Carriers and Original Equipment Manufacturers (OEMs).
Servify provides protection for devices from leading brands including Apple, Samsung, Nokia, Sony and Norton in multiple countries. The company recently announced its Series C funding of $23 million led by its existing investor Iron Pillar, a global venture growth investor.
The new offering is intended for connected devices, new and in-use, such as small electronics and appliances, with white-labeled scalable solutions that cater to individual consumers or enterprises. The programs offer a range of subscription pricing and coverage options, a comprehensive device catalog, and an advanced rules engine, as well as accurate device evaluation and calibration. Services include Accidental Damage Protection, and Extended Warranties.
“Through this partnership, we are combining Servify’s platform and technology with AmTrust’s extensive history of insuring electronics and mobile devices,” saidBruce Saulnier, President, AmTrust Specialty Risk. “Together, our two companies are in an excellent position to work with manufacturers and their channel partners to implement device protection plans that will give their consumers peace of mind at any stage in their device ownership.”
Servify’s Device Protection Programs are fully automated and transparent with integrations across multiple OEMs, retailers, service partners, logistics partners, payment providers, call centers and carriers and other members of the device warranty ecosystem.
Sreevathsa Prabhakar, Founder, Servify said, “Almost every device we use today is connected to the internet and its utility is dependent on the device being functional. With this partnership, consumers in the US will benefit from a blanket coverage of all the connected devices in their homes, whether they use them for work or otherwise as the coverage will ensure quick repair or replacement in case of the device not functioning as intended.”
About AmTrust Financial Services, Inc.
AmTrust Financial Services, Inc., a multinational insurance holding company headquartered in New York, offers specialty property and casualty insurance products, including workers’ compensation, business owner’s (BOP), general liability and extended service and warranty coverage. For more information about AmTrust, visit www.amtrustfinancial.com.
Servify runs Device Protection programs at scale for Apple, Samsung, OnePlus, Xiaomi, Nokia, Motorola, Airtel and device exchange/buyback programs for Apple, Samsung and OnePlus across their authorized sales channels. Headquartered in Mumbai with eight international subsidiary offices, Servify operates in over 50 countries on three continents. The Servify platform handles more than three million transactions per month, working with more than 50 brand partners. Additional information on Servify is available at www.servify.tech.
Deborah Kostroun, Ketchum Zito Financial