Embedded in IKEA’s offering, the new insurance is initially introduced in Switzerland and Singapore
Image: Swiss Re’s headquarters in Zurich, Switzerland. (Credit: Swiss Re/Leonardo Finotti.)
Swiss Re’s iptiQ and Swedish furniture retailer IKEA have launched HEMSÄKER, a home insurance offering, initially in Switzerland and Singapore.
Designed to extend home insurance to more people, the new insurance is made available for online purchase via IKEA website.
HEMSÄKER combines Swedish words for ‘home’ and ‘secure’ and is embedded in IKEA’s offering. iptiQ offers insurance proposition and will manage all the related customer touchpoints.
New home insurance from iptiQ and IKEA tailored for specific markets
The offering has been tailored for specific markets. In Switzerland, customers can choose to modify the level of coverage so that they only pay for what they need. After buying the insurance, it can be cancelled at any time, effective from the next day.
Swiss Re said that the B2B2C business model of iptiQ, enables brands such as IKEA to offer new services to their customers by offering bespoke insurance offerings on the iptiQ platform.
iptiQ EMEA P&C CEO Andreas Schertzinger said: “We are thrilled to be partnering with IKEA to offer HEMSÄKER to consumers – a tailored home insurance that can be purchased with a few clicks using any digital device.
“By combining our state-of-the-art digital platform iptiQ with IKEA’s customer access, we provide peace of mind to more people – and help them get back on their feet quickly after an incident.”
Swiss Re stated that iptiQ’s digital insurance, underwriting and claims expertise will enable a fresh take on home insurance.
iptiQ is a provider of property and casualty as well as life and health insurance solutions.
IKEA Switzerland CEO Jessica Anderen said: “Our vision is to help people create a better everyday life. Every year, we visit many people at home to better understand what is important to them and two topics keep coming up: security and privacy. Both are essential for people to feel comfortable in their homes.
“With HEMSÄKER, we are proud to offer home insurance for the first time, thanks to our insurance partner iptiQ. HEMSÄKER uses easy-to-understand everyday language and can be purchased in a matter of minutes.”