Press Release

SquareTrade, the global insurtech provider, today announced its expansion into the German market with a new partnership with major European retailer, MediaMarktSaturn, in Germany. Following the successful launch of SquareTrade’s offering in Spain and Portugal last year, MediaMarktSaturn selected SquareTrade’s device protection services to broaden its offering to consumers in Germany with increased policy flexibility, fast repairs and next day replacement services, and a simple automated online claims process.

MediaMarktSaturn chose SquareTrade to enable its PlusSchutz service for mobile phones in Germany. It sought a specialist insurance provider to afford it as part of its strategic move to expand its Services & Solutions offering. SquareTrade’s technology allows MediaMarktSaturn to offer customers an easy and hassle-free claims experience, enabling them to file a claim and receive approval in just a few minutes. To ensure the service is as seamless as possible, repairs can be carried out in-store at the SmartBars, or within 48hrs at a certified workshop, and replacements can be delivered overnight, anywhere in Europe.

Said Florian Gietl, CEO of MediaMarktSaturn Germany: “Our new insurance services start where legal warranties or manufacturers’ voluntary guarantees end. Thanks to the cooperation with SquareTrade, we have made our services in this area even more transparent and flexible. This enables us to respond to our customers’ needs in the best way possible.”
The insurtech provider’s policy offerings also give MediaMarktSaturn’s customers greater flexibility; for example, customers can opt between a two-year fixed term contract with a single payment, or a flexible term contract with monthly payments, valid for up to five years, and which can be cancelled at any time. Customers can further choose to pay a slightly higher monthly premium to opt out of the excess at point of claim. Finally, customers can also opt for optional theft cover.

“Our partnership with MediaMarktSaturn brings our innovative services to Germany,” declared Kevin Gillan, MD Europe, SquareTrade. “We are thrilled to enhance the insurance experience for MediaMarkt-Saturn customers by offering flexible plans to suit every customer and their insurance needs. In today’s world customers expect to receive quick resolutions, and that’s where our top-rated services come in.”