A caring collaboration XXL was looking for a flexible and digital insurance partner, which it found in the insurance broker and insurtech company Omocom. For XXL, it was important to find a partner who shared XXL's long-term strategies and who was able to offer the insurance in all of XXL's physical stores in the Nordic countries and Austria, as well as for the online business.
The insurance, named XXL Care, is an all-risk insurance that covers sudden and unexpected damage and theft, for 12 months. For members of the XXL Reward customer club, the insurance also offers additional benefits and security, such as free ski rent or reimbursement of travel expenses in the event of an accident.
The insurance will initially be exposed in a number of XXL stores in Sweden and ambassadors have also been appointed in the pilot stores who have regular check-ins with dedicated Omocom staff. This is to ensure that they have all the necessary tools and support to make the sales go as smoothly as possible.
Omocom and XXL in cooperation for repair and service
XXL currently carries out repairs for several different product groups and has workshops in all its department stores. If the insured product breaks down, the customer is referred to the nearest XXL workshop for repair. If the insured product is beyond repair or, for example, stolen, the customer is replaced with an equivalent product from XXL. This cooperation means that the customer can get both help and replacement quickly and easily and that products are kept in use for longer.
The cooperation, which is initially a pilot, is designed to scale up and expand smoothly, with the goal for both XXL and Omocom to grow across even more product categories and to all of XXL's 93 stores in Sweden, Norway, Denmark and Austria, as well as to launch the insurance in XXL's e-commerce.
"We are incredibly happy and proud that XXL has chosen us as their insurance partner. We complement XXL's needs in a very good way where we can offer flexible solutions for a pilot phase in the short term and in the long term where we can offer solutions for XXL's entire business, both in physical stores and online, in all markets where XXL has a presence. We can also help XXL in its journey around renting, selling second hand items and in sustainability in general.
The project and implementation with XXL has gone incredibly smoothly, and we have also had a lot of fun along the way" - says Sara Forsberg, CCO at Omocom.
Since its launch in Oslo, Norway in 2001, XXL has become one of the fastest growing sports retailers in Europe, with a total of 93 stores in Norway, Sweden, Finland and Austria.
"We are now testing XXL Care in selected department stores in Sweden to learn lessons and continuously develop and adapt the content of our insurance. From the beginning, the goal has been to put the customer in focus and offer an insurance that not only stands out in the market in terms of price but above all for what the insurance actually contains. For example, we offer reimbursement for both ski rental and travel costs if the ski/bike is unusable, which is unique.
This has allowed us to keep a high profile during the project and to ask the right questions and challenge the content in order to be able to launch a very affordable insurance to our customers. We hope and believe that we will be able to add on more benefits for our customers through Omocom and build on XXL Care after the pilot" - says Tobias Ahrens, Sales Manager at XXL
"At XXL we want our customers to be able to use the equipment for as long as possible, so this is a project that suits us perfectly. By being able to offer insurance on products that our customers buy from us, we encourage customers to be able to get their products repaired instead of throwing them away and buying new ones, which has also been important to Omocom.
Omocom provides a great technical platform that we can build on in the future, making the customer journey and experience around insurance even more flexible. They have also been flexible and open to new solutions, something we depend on to develop an attractive service for our customers. Based on this, we believe that Omocom is the natural insurance partner for us at XXL" - says Mihkku Tostrup, Head of paid services at XXL.
Omocom is a Swedish insurtech company and insurance intermediary founded in 2018 with the goal of supporting and incentivizing the circular economy. Omocom's insurance solutions are API-based and at the time of writing are available in 11 markets across Europe.
Fact about XXL / Omocom cooperation:
The insurance is initially offered in 10 Swedish XXL stores
The insurance can be purchased in the product categories Ski, Bicycle and other sports and leisure equipment such as sports watches and GPS devices.
The insurance offered is an all-risk insurance that covers unexpected damage and theft.
The insurance is valid for 1 year (extension possible)
The customer price of the insurance starts from 299: - and is based on the value of the goods
Low or no excess
Riskbärare av försäkringen är W. R. Berkley Nordic.
Seen in pictures, from the top down: Sara Forsberg, Tobias Ahrens and Mihkku Tostrup.