bolttech offers device protection in Japan

It has partnered with refurbished device marketplace, Back Market.

Insurtech bolttech announces its partnership with Back Market, a refurbished device marketplace in Japan to offer embedded device protection.

The jointly developed device protection service, named 'Back Up,' will provide Back Market's customers with complimentary data recovery service for damaged phones and dedicated repair options, ensuring minimal disruptions to their digital lives and an enhanced user experience. 

“With Japan being one of the leading insurance markets globally, it's exciting to witness the increasing demand for insurtech solutions as Japanese customers seek more ways to safeguard their valuables," Philip Weiner, CCO of bolttech for Asia and Europe stated in a press release.

'Back Up' offers comprehensive protection plans covering everyday risks like breakage, corrosion, and liquid damage, aiming to prolong the lifespan of customers' refurbished devices. 

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Additionally, the service includes concierge services via a one-stop contact centre for added convenience. Furthermore, the repair services contribute to keeping devices in circulation and reducing landfill waste.

“We established a dedicated local team in Japan last year as we noticed a growing interest in refurbished smartphones in Asia Pacific. Customers are eager to explore the benefits of the circular economy and find creative ways to extend the lifespan of their devices. We're excited to expand this partnership and introduce 'Back Up' with bolttech in Japan, providing customers with greater peace of mind knowing their devices are further protected." Thibaud Hug de Larauze, CEO of Back Market also said in the press release.

The launch in Japan follows bolttech's Series B fundraising round last year worth $246m, with Tokio Marine as the lead investor.