The Story
About
The idea originated from my own experience with insurance companies when it came to the "early" end of a product life cycle (my mobile phone slipped out of my hand and cracked), although there was still residual value attached to the good. I was wondering if I was the only one experiencing such an inefficient handling of damage products and it became quickly obvious, that others also experienced this.
Essentially, insurance companies did not have the capacity/resources to focus on such "smaller" damaged goods (below a certain threshold) which makes is more "efficient" (but less sustainable) to simply pay out the insured amount rather than analyzing the potential of giving the damanged good a "Second Life" through repairing or repurposing.
Mission
We aim to achieve together with insurance companies a sustainable use of our global resources by giving damaged/restorable items a "Second Life", while simultaneously increasing income and eliminating adverse incentives, as well as enhancing the reputation/sustainability of insurance.
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