The global online shopping boom has given rise to a new wave of crime, dubbed ‘porch piracy’, with an estimated 43% of consumers in the US alone becoming the victim of package theft. Porch surveillance devices have proved to be a convenient solution to this issue.
We recently partnered with an IoT Smart Device product manufacturer to create ‘Doorbell Insurance’, an embedded service warranty product, in order to set themselves apart from competition.
A doorbell camera IoT device manufacturing company wanted to close the loop on their product and offer a complete service to their customers. Their system notifies homeowners when someone is at their front door or on their porch. However, packages still go missing at an alarming rate. The client wanted to offer a complete service to set it apart from other providers. As a result, MIC Global came on board to help our client create a custom solution through the use of embedded insurance in order to add value.
The service warranty product was embedded into the cost of the IoT smart device product. Thus, customers deciding between our partners’ doorbell camera device versus another brand are incentivized to choose our partners’ since it comes with the added value of a service warranty to protect customers from package theft.
Embedded Coverage for Today’s Digital World