Warranty Expert and ELEMENT have joined forces in a strategic partnership to revolutionize the extended warranty and purchase protection landscape across Europe. This collaboration seamlessly integrates Warranty Expert's comprehensive product offerings, spanning diverse consumer goods, with ELEMENT's expertise as a pan-European licensed insurer.
Following their successful entry into the Finnish market in July 2023, the Lithuanian company, in collaboration with ELEMENT as Insurance Carrier, launched some months later in Ireland as part of their ambitious European expansion initiative.
Together, they provide retailers, service providers, and end customers with a unified and efficient ecosystem, marked by a user-friendly platform, real-time decision-making and a commitment to delivering unparalleled insurance solutions across multiple markets simultaneously.
Co-Founder & Chairman of the Board at Warranty Expert
Warranty Expert is the Baltic States’ leading company in Purchase Protection and Extended Warranty services. Launching in 2013, Warranty Expert grew their business within the region and a TPA network across Europe, focusing on tailored customer experiences and B2B partnerships, while expanding their retail training programs and insurance products. The company is offering their products to a whole variety of purchases starting from all kinds of electronics to furniture. The main goal of Warranty Expert is to ensure peace of mind for all households.
The collaboration has streamlined international onboarding processes, making it faster and more efficient to launch new markets.
Through a seamless integration of Warranty Expert's extended warranty and purchase protection services, coupled with ELEMENT's expertise as a pan-European licensed insurer, the project has successfully navigated diverse market regulations, ensuring compliance and adaptability.
Challenge: Having conquered the Baltics markets over the last 10 years, Warranty Expert was looking for an insurer to accompany their market expansion, starting in Finland and Ireland.
Solution: ELEMENT, as the Insurance Carrier, facilitated Warranty Expert's seamless entry into new European markets. Leveraging our modular products adaptable to local regulations, this collaboration ensured swift scaling across diverse geographies. ELEMENT's expertise addressed regulatory challenges, providing robust support for Warranty Expert's successful European expansion.
Results: ELEMENT and Warranty Expert's collaboration enabled a smooth market entry with modular product adaptations, showcasing cross-market regulatory capabilities through strategic cooperation with experienced partners. The successful launch of insurance services in Finland and Ireland underscores the commitment to innovative solutions tailored for diverse markets.