Protecting electronic devices against loss and damage through Lami’s B2B2C partnership model

• Protects electronic devices from damage, theft, and beyond standard device warranties.
• You get covered directly within the agreed demographic location.
• Get covered from as low as KES 350/=per year for a device worth more.
• Businesses can add value to their customers' purchasing journey.

In today’s world, our electronic devices are one of our biggest assets, they contain the most valuable information we require to go on with our day-to-day routine. Losing a cellphone or laptop could cost us tremendous loss of data that we require for personal and professional purposes, hence it is important to consider protecting electronic devices against loss and damage through an insurance policy.

At Lami, we help businesses protect their electronic devices through our partnership model.

What is the All Risk Electronics Insurance, and how can you get access to the policy ?

Standard warranties are usually attached to most devices on purchase but only cover manufacturer defects. The electronic assets cover was created to insure costs related to any loss, damage, or destruction to your business’s new electronic equipment by any accident other than specifically excluded in the policy document provided on the purchase of the electronics cover.

Electronics are, in so many ways, exposed to risks. We alleviate these risks from your business with the all-risk electronic device cover. To be under the cover, simply fill in onboarding information, access policy documentation, and pay the agreed premium according to your policy document.

How much is the All Risk Electronics Insurance cover?

The cover is one of the most affordable types of insurance. It typically ranges from 350 KES to 3500 KES for 12 months. The wide range in cost is due to the number of conditions that affect the cost of insurance. The premium also has a 15% excess with every item loss. All within the geographical area agreed. The affordability of the cover doesn’t mean it is inefficient, it is all part of Lami’s mission to provide businesses and consumers with affordable insurance products.It can be to assess how much cover you need for your device, finding saving opportunities, and be sure to compare different quotes from providers.

Lami’s insurance technology enables all these options automatically allowing you to select the best option. You can also insure almost any electronic device with the cover, including Mobile and smartphones, Laptops and computers, tablets, e-readers, iPads and other MP3 players, Gaming systems, Cameras, etc.

What are the benefits of the All Risk Electronics Insurance Cover?

The cover directly benefits the purchaser of the product. An advantage of the product to business in the electronics space is we take away the stress caused by the costs associated with accidental damage or loss of their items. In turn, the end customers that buy the devices are assured that a claim is initiated upon any unfortunate event leading to the loss or accidental damage to the devices. These claim benefits include; replacement of phone in case of total loss or damage of insured phone, Screen damage cost sharing, Covers for minor cracks to an electronic device, and theft of the insured item.

If a claim arises under this policy, the insured should notify the company, Submit a statement, immediately report to the police, take all practicable steps to assist in the recovery of the lost property, and further Protect any remaining property from other loss or damage. The insured shall cooperate with the company or its representative under the claim cooperation clause.

How are businesses using the All Risk Electronics Insurance to safeguard their earnings?

LipaLater, a trusted Buy Now Pay Later company operating in Kenya, Rwanda, Uganda, and Nigeria to provide financial solutions to consumers, leverages the electronics cover to safeguard their business against risks that lead to financial loss. Using Lami’s insurance APIs, they have embedded the all risk electronics insurance cover to all electronic assets they finance to mitigate the risk of default caused by damage, loss, theft of the financed item, or caused by the loanee’s accidental death or permanent disability. Lami’s solution has done it all for businesses. Simply select the cover option that best suits your business needs and live worry-free with reliable digital insurance.

Schedule a demo with our engagement team and get the All Risk Electronics Insurance. Follow us on Twitter @LamiInsurtech and join the discussion on the Lami World Blog.