4th February 2008
CJSC ACE Insurance, BeeLine and Alfa Strakhovanie have launched a joint project on the Cell phone (handset) insurance.
This is the first insurance project of this kind on the Russian market giving ACE a market lead in mobile phone insurance. The campaign will have a 3 months pilot, first focused on Moscow in 4 Beeline shops (with a further expansion to 35 shops by end of February) and it is planned that afterwards it could be launched across the whole of Russia.
148 million people live in Russia and according to the statistics; there is 108% cell phone penetration - a huge market with enormous potential for ACE Personal Lines business!
BeeLine is a Cell phone operator, one of the three biggest in Russia and is considered to be the major one in terms of product promotion and the amount of people using its services. It is planned that the insurance will be sold in the BeeLine stores together with the cell phone handsets (or newly purchased handsets somewhere else, though people will be able to buy the insurance within 60 days after the phone’s purchase).
The product has 3 options:
1.BASIC - accidental damage cover
2.STANDARD - accidental damage + Robbery/Burglary
3.COMPLEX - accidental damage + Robbery/Burglary + liquid damage to the mobile phone + A&H cover for the owner of the phone (goes as a free cover for the client)
Claims handling and repair works are being outsourced to SOS International.
The phone for life project was launched as well and will offer cross-selling opportunities in both directions.