Supporting a retail giant on a Breakdown offer

Discover how Verspieren and Seyna successfully launched an insurance offer for a retail giant

Verspieren customer case

The partner

“Boosting entrepreneurial freedom and innovation through insurance”. is Verspieren’s mission.

For 5 generations, the family-owned Verspieren group has been putting its know-how at the service of entrepreneurs and projects of all kinds, to support them towards success. Whether it be luxury goods, real estate, IT services, businesses or consumers, Verspieren supports some of France’s top-tier distributors.

That is very similar to Seyna’s mindset. We look to lead our broker partners to success.

At the beginning of 2021, a big opportunity turns up : Verspieren is challenged by Electro-Dépôt, one of France’s leading household appliances and multimedia retailers, for their insurance distribution business!

Our challenges

And the job is a big one. Just like Electro-Dépôt itself! At that time, Verspieren must fully remodel a breakdown insurance product distributed via a network of 150 stores and 83 depot shops throughout France. And all that in just two months.

And the topic of insurance isn’t to be taken lightly. In a highly competitive context such as the sale of electronic and household appliances, confidence at the time of purchase is crucial for customers. This is the whole purpose of a breakdown offer: to guarantee to the customer  that he or she will be able to enjoy their purchase for a long time after leaving the store! Beyond being an additional source of income for Electro-Dépôt, insurance is a key selling point for the customer.

This can only be achieved with a crystal-clear insurance product. It makes it easier for the sales team to explain the product to the customer, convert the sale, which in turn directly defines the success of the insurance portfolio.With only two months and 4 stakeholders to coordinate (Cofidis and the co-broker on the deal), the success of the operation all boils down to Seyna's agility and ability to simplify the execution of this takeover for Verspieren.

Our solution

2 months later, the "Electrosûr" Home Offer is launched!

On the insurance side, the product:

  • Offers a lifelong guarantee for the breakdown of new or reconditioned appliances, regardless of whether they were purchased from Electro Dépôt or not (after the manufacturer's initial warranty);
  • Takes on all repair costs or offers a full refund of the good at the replacement cost if the product is not repairable;
  • And to be sure that it matches our customers’ needs, the offer is broken down in 3 formulas, matching the merchant’s 3 key product categories (household appliances, Image and Sound, Multimedia).

On the technological side, Seyna provides Verspieren with its Broker App. The software gives Verspieren all the tools they need to manage the portfolio. This includes a Business Intelligence module giving them 24/7 access to the performance of the program, or a depositary tool automating the integration of contracts and claims data.

Results achieved

  • An acceleration of in-store sales with a business plan exceeded at the end of the first month
  • One of the most attractive breakdown insurance portfolios in France operated on Seyna
  • New partnership projects on the go with Verspieren...