Asurion Home+ is a third-party device protection company that offers customers technical support and repair services for a variety of home tech items. The company sells its plans via a monthly subscription, which provides coverage for mechanical and electric malfunctions for a wide range of eligible products including computers, TVs, gaming consoles, smart home devices, and more.
According to the company, Asurion saw a 65% increase in repairs on broken home tech devices during peak pandemic. This shouldn't be a surprise, however, considering household tech was being used in excess as lockdown laws had millions of North American's stuck at home. In addition, Asurion's tech protection plan already possessed the ideal business model for a pandemic-impacted world with features such as 24/7 expert tech help, porch pick-up services, same-day repairs, and contactless home deliveries.
Subscription-Based Home Tech Repairs
Asurion Offers Tech Coverage Plans Fit For Pandemic Life
Trend Themes
1. Subscription-based Repair Services - The rise of subscription-based repair services, coupled with contactless home deliveries, has disrupted traditional repair service models.
2. Increased Focus on Home Tech - Increasingly, households are relying on technology, presenting disruptive innovation opportunities for companies that specialize in the development of home tech.
3. Porch Pick-up Services - The trend towards porch pick-up services streamlines the repair and delivery process for home tech items, maximizing convenience for consumers.
Industry Implications
1. Third-party Device Protection Companies - Third-party device protection companies, like Asurion, continue to disrupt the traditional model of purchasing warranties through retailers.
2. Home Tech Development - As the use of technology in households increases, companies specializing in home tech development have opportunities to create new products that meet changing consumer needs.
3. Repair Service Providers - With subscription-based repair services on the rise, traditional repair service providers may need to re-think their business models to remain competitive.