Baloise takes single-item insurance to the next level

Having successfully launched insurance for personal items in the retail customer segment, Baloise is now offering single-item insurance for business customers too. There are two options available. Firstly, business customers can take out single-item insurance for their organization and, secondly, firms can offer comprehensive B2B service packages for the products that they sell, incorporating tailored insurance cover.

Since its launch a year ago, insurance for personal items has proved very popular with retail customers. They have taken out cover for all kinds of possessions, from coffee machines and hearing aids to musical instruments and drones. This type of insurance is now available to business customers as well: “We are expanding our insurance so that companies can obtain cover for their possessions. As well as standard items such as laptops, cameras, tablets and other office equipment, they can insure medical devices, measurement and testing equipment, electronic signage, POS and security systems, and much more,” explains Verena Beeck, Head of Non-Life Product Management at Baloise. The items are insured against loss, damage, destruction and theft. Optional guarantee extensions and upgrades are also available. Companies can take out a single-item insurance policy quickly and easily online.

In addition to offering tailored cover for individual objects, Baloise’s new insurance also meets the needs of firms such as manufacturers, dealers, equipment rental companies and leasing companies that wish to provide their customers with broader service packages for physical products. “These combined packages can already be found in the retail segment: A bicycle dealer offers insurance to customers buying a bike, or a mobile phone shop sells insurance for new mobile phones. We want to open up this type of service model to companies operating in the B2B segment. Now, for example, an electronics wholesaler can offer a comprehensive service package – that includes suitable insurance – to businesses when they purchase laptops, tablets or other devices,” adds Verena Beeck.

The single-item insurance product for business customers was developed in partnership with insurtech KASKO, a startup with which Baloise collaborates closely. The new form of single-item insurance represents a further step in the implementation of the Simply Safe growth strategy.

Last, to claim, policyholders are asked to complete an online form or call the insurer. Proof of purchase will be required.