Asurion: Insuring Millions Of Devices

Asurion is a privately held company based in Nashville, Tennessee, that provides insurance for smartphones, tablets, consumer electronics, appliances, satellite receivers, and jewelry. In 2014, the company operated in 14 countries and had 19,000 employees serving 280 million consumers. As of 2024, Asurion is trusted by 300 million people worldwide.

Asurion's global reach

Asurion is a privately held company based in Nashville, Tennessee, that provides insurance for smartphones, tablets, consumer electronics, appliances, satellite receivers, and jewelry. Asurion is trusted by 300 million people worldwide, serving 280 million consumers as of 2014.

The company began expanding its operations globally in 2003, starting with Asia. This was followed by expansions into Europe in 2008 and Australia in 2013. In 2014, Asurion expanded into Latin America through a partnership with America Movil. As of 2014, the company operated in 14 countries and had 49 offices.

The company's protection plans are designed to meet the needs of consumers worldwide, covering a range of devices and offering features such as cracked screen repair, loss and theft protection, and coverage for water damage. Asurion's global expansion has allowed it to serve a diverse customer base and establish itself as a trusted provider of insurance and protection services for consumer electronics and appliances.

Asurion's customer numbers

Asurion is a privately held company that provides insurance for smartphones, tablets, consumer electronics, appliances, satellite receivers, and jewelry. As of 2014, the company served 280 million consumers worldwide, and this number has likely grown since then. In 2024, Asurion was trusted by 300 million people globally, according to their website. This number may include people who have signed up for Asurion's services and those who are covered by the company's protection plans through their wireless providers.

Asurion has expanded its operations and customer base through acquisitions and partnerships. For example, its expansion into Latin America in 2014 was through a partnership with America Movil. The company has also acquired other businesses, such as Lock/line, Lumitrend, Cloud device management firm Soluto, and uBreakiFix, a national phone and electronics repair chain. These acquisitions and partnerships have likely contributed to the growth of Asurion's customer base.

Asurion's customers can be broadly categorized into two groups: those who have signed up for Asurion's protection plans directly and those who are covered through their wireless providers. The company offers protection plans for smartphones, tablets, and other consumer electronics, providing coverage for cracked screens, physical damage, mechanical failure, loss, theft, water damage, and normal wear and tear. Asurion's insurance extends to accessories that come with devices, such as chargers and earbuds.

The company's protection plans are available at many carriers and retailers, and the eligibility and coverage details may vary depending on the wireless provider. Asurion's website mentions that customers typically need to enroll their phones in the coverage plan within the first 30 days of activation or upgrade.

Asurion's history

Asurion is a privately held company that provides insurance for smartphones, tablets, consumer electronics, appliances, satellite receivers, and jewelry. It is one of the largest and fastest-growing subscriber-based businesses in the world, with over 150 million wireless customers and operations in 21 countries. The company is based in Nashville, Tennessee, and was founded in 1995 by Stanford graduates Kevin Taweel and Jim Ellis.

In its early years, Asurion focused on roadside assistance and wireless carrier channels. The founders acquired Mr. Rescue, a Houston-based roadside assistance company, and began selling their services through wireless carriers. This proved to be a challenging business, but it exposed the company to the emerging mobile phone market. In 1999, Asurion expanded into insurance for mobile phones, a decision that would shape the company's future success.

Asurion continued to grow and expand its services, offering retail service contracts in 2008 and technical support in 2011. The company also began its global expansion in 2003, starting with Asia and followed by Europe in 2008 and Australia in 2013. Asurion continued to acquire and merge with other companies, including the Nashville-based Merrimac Group, Lock/line, Lumitrend, Soluto, and uBreakiFix, expanding its product portfolio and improving its customer service.

By 2014, Asurion operated in 14 countries, with 49 offices and 19,000 employees serving 280 million consumers worldwide. The company has received recognition for its innovation and award-winning services, including the CES Innovation Award in 2015 for its support and protection apps.

Today, Asurion is trusted by some of the biggest brands in the world, including Verizon, AT&T, and Samsung, to protect their products and provide solutions for their customers. The company has come a long way from its roots as a small startup, and it continues to evolve while maintaining its commitment to its customers and partners.

Asurion's acquisitions

Asurion, LLC is a privately held company based in Nashville, Tennessee, that provides insurance for smartphones, tablets, consumer electronics, appliances, satellite receivers, and jewelry. Asurion has expanded its products, services, and clients since its founding in 1995, in part due to acquisitions.

In 2006, Lock/line merged with Asurion, making DST Systems Inc. (Lock/line's former parent company) a 35% shareholder of the combined company. That same year, Asurion also acquired Lumitrend and Warranty Corporation of America (WaCA). Through the acquisition of Lumitrend, Asurion expanded its product portfolio to include CellBackup software.

In 2008, Asurion merged with National Electronics Warranty (NEW Customer Service Company). In 2013, Asurion acquired cloud device management firm Soluto, which was integrated into Asurion’s Premier Support Solutions line of services. Soluto’s support capabilities broadened the scope of mobile protection to include technical support, helping Asurion address the full spectrum of challenges consumers may face throughout the life of their devices.

In 2017, Asurion launched its Simplr subsidiary to provide customer service via on-demand staffing and machine learning. That same year, through Soluto, Asurion acquired Drippler, another tech support app company, and merged it with Soluto. In August 2019, Asurion acquired uBreakiFix, a national phone and electronics repair chain with over 700 store locations.

Asurion's subsidiaries

Asurion is a privately held company that provides insurance for smartphones, tablets, consumer electronics, appliances, satellite receivers, and jewelry. As of 2014, the company operated in 14 countries and served 280 million consumers.

Asurion has several subsidiaries that it has acquired over the years to expand its product and service offerings. Here is an overview of some of these subsidiaries:

Merrimac Group

In 1999, four years after its founding, Asurion purchased the Nashville-based Merrimac Group, which offered specialty insurance for cellphones. This acquisition marked the company's entry into the mobile phone insurance market and set the stage for its future expansion into other insurance and technology-related fields.

Lock/line and DST Systems Inc.

On January 1, 2006, Asurion merged with Lock/line, making DST Systems Inc. a 35 percent shareholder of the combined company. This merger likely brought additional expertise and resources to Asurion, enabling further growth and expansion.

Lumitrend

In May 2006, Asurion acquired Lumitrend, a company specializing in CellBackup software. This acquisition expanded Asurion's product portfolio and likely enhanced its ability to offer comprehensive protection for mobile devices.

Warranty Corporation of America (WaCA) and National Electronics Warranty (NEW Customer Service Company)

Also in 2006, Asurion acquired the Warranty Corporation of America (WaCA). Two years later, in 2008, Asurion merged with National Electronics Warranty (NEW Customer Service Company), uniting the top protection providers in the wireless and retail industries. These acquisitions solidified Asurion's position as a leading provider of protection plans and warranties for various electronic devices.

Soluto and Drippler

Asurion acquired the cloud device management firm Soluto in 2013 to enhance its tech support capabilities. In 2017, through Soluto, Asurion acquired Drippler, a tech support app company, and merged it with Soluto. This move likely strengthened Asurion's ability to provide comprehensive technical support to its customers.

Simplr

Launched in February 2017, Simplr is a subsidiary of Asurion that focuses on providing customer service through on-demand staffing and machine learning solutions. This subsidiary addressed the challenges Asurion faced with customer service as it expanded into new ventures.

UBreakiFix

In August 2019, Asurion acquired uBreakiFix, a national phone and electronics repair chain. With over 700 locations, uBreakiFix provides convenient and affordable repairs for various devices, including phones, computers, and game consoles. This acquisition gave Asurion a strong presence in the device repair market and expanded its ability to offer comprehensive tech care solutions.

These subsidiaries have played a crucial role in Asurion's growth and expansion, allowing the company to serve millions of customers worldwide and establish itself as a leading provider of insurance, protection plans, and technical support for a wide range of devices.

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