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Post Office partners with Taurus Insurance Services to provide brand new gadget insurance product

Press release   •   May 31, 2019 10:07 BST

  • Post Office has entered the gadget insurance market with the option of a single or multiple gadget policy.
  • 36% of adults in the UK own four or more types of gadgets, one in six will accidentally damage their gadget.*
  • Loss, theft and damage are all covered as standard, as well as unauthorised usage and worldwide cover.
  • Flexible claims solutions with options to use Apple genius bars or provide a 24hr replacement handset service.

Post Office has today launched a mobile phone and gadget insurance product, in partnership with Taurus Insurance Services Limited. The new insurance product has been designed with customers’ needs at the heart of it, by offering multi-channel claims solutions which provide the option to use Apple genius bars. Customers have the choice of being able to insure their whole family’s tech, including mobile phones, tablets, and cameras, under a single policy.

Technology is getting more expensive, and working with Taurus, we have created a product that meets the needs of customers focusing on the speed in which customer’s devices are repaired or replaced. Research conducted on behalf of the Post Office shows that 97% of the UK adult population have at least one gadget, and 36% of millennials** own four or more types of gadgets!*

Post Office gadget insurance is flexible, customers can choose a family policy – which insures three gadgets from as little as £15.00 per month - or a single gadget policy, protecting a mobile phone from £7.50 per month.

All policies provide a choice of excess and the ability to log and arrange repair of your devices on-line 24 hours a day, 365 days a year. Underpinning the product is Taurus’ subscription based payment model, allowing complete control over the way customers pay and manage their cover – monthly, annually or via a rolling pay-as-you-go contract.

Rob Clarkson, MD of Post Office Insurance commented:

“We are very excited to be working with Taurus. Together we have delivered a policy which responds to customers desire to be without their device for the least time possible. Providing different levels of excess whilst offering monthly payment terms together with fully on-line claims processing offers our customers a unique proposition.”

Taurus Insurance Services Limited is the UK’s leading lifestyle affinity provider; its technology is the foundation of the new Post Office product.

James Cottrell, MD of Taurus Insurance Services Limited said:

“We are delighted to be supporting one of the UK’s leading brands with this innovative proposition. With our exceptional technology platform we are confident we have delivered a market-leading alternative to the established providers. We believe that lifestyle insurance and the subscription economy is the future of insurance, and I’m very pleased that Taurus and the Post Office are at the forefront of this evolution.”

*Source: Consumers & Gadget Insurance – UK – November 2018, Mintel Report

**Millennials – People born between in the early 1980’s to the early 2000’s

ENDS

Issued by:

Post Office Press Office

20 Finsbury Street

LONDON, EC2Y 9AQ

Tel: 07436 038445 or 020 7012 3456 (24 hours),

Email: pressoffice@postoffice.co.uk www.postoffice.co.uk

About Post Office:

  • With 11,500 branches, the Post Office is among the larger retail networks in the UK.
  • 97% of Post Office branches are run with retail partners on an agency or franchise basis.
  • The Post Office provides services central to peoples’ everyday lives; 99.7% of the population lives within 3 miles of a Post Office.
  • We offer the UK’s largest fee free cash withdrawal network through our 11,500 branches and an additional 2,500 cash machines and 99 per cent of UK bank customers can access their accounts at the Post Office.
  • We sell 170 different products and services spanning financial services including savings, insurance, loans, mortgages and credit cards; Government services; telephony; foreign currency; travel insurance and mail services.
  • Post Offices branches remain highly valued and trusted, and are the focal point of many communities. For more information; visit www.postoffice.co.uk and to find out about a Post Office business opportunities; visit www.runapostoffice.co.uk