Amelia Lowe, Vice President of Operations (Europe), SquareTrade
SquareTrade is the fastest growing insurer in the global device protection market and working with many of the world’s largest operators, retailers and manufacturers, currently protecting over 140 million devices globally. SquareTrade gets customers back to good quickly through fast and convenient resolutions with a focus on repairing devices wherever possible. By helping extend the lifetime of devices SquareTrade is placing sustainability and the environment at the heart of their strategy.
SquareTrade passionately believes that insurance products can play a central role in extending the lifetime of devices, repairing more, and ultimately helping in the transition to a genuinely circular economy. SquareTrade sees sustainability as a catalyst for innovation and are committed to finding new ways to service customers and new insurance products that minimise the impact our essential devices have on the earth.
Core to SquareTrade’s mission is not only what they do, but how they do it. By repairing more than replacing, they are helping extend the lifetime of devices and shifting toward a more circular economy. They have created a market-leading, claim-level emissions model capable of calculating the amount and source of emissions to service every insurance claim, and it’s this data driven insight that’s helping them make better decisions about how to service claims, innovate future products and services, and help customers make more informed choices.
In July 2023, SquareTrade started an initiative whereby they fund WeForest’s project in Mount Mulanje by growing a tree each time a customer chooses to repair their device rather than opting for a replacement. New messaging was added to the claim filing process to promote the initiative and help encourage customers to choose repair.
SquareTrade chose WeForest as their partner given their unwavering dedication to reforestation, support and partnerships with local communities and track record in combating climate change. Their tech capabilities allow SquareTrade to digitally track where the trees are growing, see live feeds and hear stories about their impact on local communities. This in turn allows them to share updates and news back to their customers to keep them feeling part of the sustainability journey.
SquareTrade wanted to launch initiatives that offered the biggest sustainability impact in a short timeframe. The partnership with WeForest does just that, allowing SquareTrade to reduce their carbon footprint while inviting customers to choose repair over replacement, ultimately aligning economic efficiency with environmental responsibility.
Commencing in July 2023, the campaign has successfully launched across Norway, Denmark, Finland, the United Kingdom, Iberia, Germany, Austria, and Sweden. Since launch, customers’ repair take-up rates in these markets have collectively increased by an average of 6%, firmly demonstrating customer interest in choosing more sustainable options.
SquareTrade and its customers are growing over 27,000 trees in Mount Mulanje, Malawi.
The equivalent to covering an area approximately the size of 13 football pitches with trees!
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