Merchandise Protection

Purchase Protection Insurance

Our Purchase Protection product can provide your customers with extra reassurance when buying items on their credit and debit cards. Items are protected against loss, theft and damage for up to 100 days after purchase. Your customers either get their money back or else the item is repaired or replaced.

CLIENT BENEFITS

Meets market demand

High levels of card penetration and its relevance for every life stage and lifestyle create a substantial natural market for this product.

Allows you to customise

The product is flexible and can be tailored to your customers’ individual needs. You can offer protection on credit and debit cards. You can also vary the transaction levels that apply to provide competitive differentiation or limit your liability.

Secures your customer

Purchase Protection can be offered in conjunction with a credit or debit card on a free or discounted basis to maximise your ‘card of choice’ appeal.

Increases your share of transactions

‘Cards of choice’ are used for purchases more frequently than other cards, increasing your transaction revenues.

Provides you with cross-sell opportunities

Purchase Protection customers can be more engaged with your brand and may be more receptive to the marketing of other protection products from your portfolio, such as home contents insurance.

CUSTOMER BENEFITS

Financial security

With Purchase Protection, your customers do not have to worry about the financial consequences if something new is broken, stolen or lost. Our product gives reassurance that the cost of replacement or repair is covered (within policy limits).

Comprehensive protection

Your customers’ purchases are covered for 100 days against loss, theft and damage. Transaction cover begins at €31.50 rather than the industry standard €126 and protection can be extended up to a maximum €18,900 in any 12-month period.

Simple and convenient

When Purchase Protection is provided with a credit or debit card, your customers will instantly benefit from the reassurance it provides.

To contact the team at Genworth please click here