Extend aims to help retailers take control of their post-purchase customer experience with product protection plans. Retailers can introduce value-added services to help build shopper trust and loyalty and keep customers within the brand ecosystem.
The full-stack platform, which is powered by AI technology and underwriting capabilities, is designed to power innovative plans, optimize multiple revenue channels, ensure the fastest time to market and deliver best-in-class end-to-end service. It aims to help retailers:
- Drive incremental revenue by receiving a portion of each protection plan sale;
- Create tailored coverage plans that meet each customer’s needs, whether mechanical or electrical failure or damage caused by an accident; and
- Generate repeat customers by sending shoppers back to the retailer’s website to purchase a replacement after their claim is approved.
Customers can benefit from rapid virtual claims and hassle-free repair or replacement of products. Additionally, Extend will email customers their contract after they add a plan to their purchase, with no need for the retailer to keep track of the paperwork.