New gadget insurer announces its partnership with Seedrs

A specialist gadget insurer, InMyBag, has signed a partnership agreement with equity crowdfunding platform, Seedrs.

The deal will see Seedrs recommend InMyBag’s services to its ‘Alumni Club’, which is made up of companies that have successfully funded on the platform. InMyBag will sit alongside products from Google and Amazon, in what is effectively a toolkit for expanding businesses.

As mobile and flexible working becomes increasingly prevalent across the UK, with an increasing number of staff and freelancers relying on laptops, tablets and mobile phones, the apparent need to have technology replaced immediately has never been greater.

Gustav Holst Stuge, CEO of InMyBag, commented: ’‘There’s no escaping the fact that businesses are increasingly reliant on technology. New [companies] are often especially dependent on their tech running seamlessly and their vital data being kept safe and secure.

’’For too long, insurers have failed to recognise the importance of a rapid resolution for tech product claims. Put simply, laptops, tablets and mobile phones are not luxury - they are essential for day-to-day life and business.“

Customers with an InMyBag policy are said to be guaranteed to have their device repaired or replaced within 24 hours; sometimes even within four hours.

The company recognises the importance of keeping data, which is often commercially sensitive, secure and backed up. Because of this, customers have free access to ‘CrashPlan’, a system - used by Netflix and Uber - to secure data.

It uploads information from a device to the cloud continuously, while using advanced encryption to keep it safe. This protects people whose devices are lost, stolen or damaged and also helps mitigate the damage from ransomware attacks.

Gustav continued: ’‘This partnership with Seedrs shows that there is a need for insurers that work with their customers, rather than against them - particularly when they’ve suffered the stress of a loss, theft or damage to a vital gadget.

’‘It’s time for the insurance industry to stand up and recognise that the claims process has been made deliberately difficult and time consuming for too long - it stops now.’’

InMyBag is the brainchild of the InsurTech Gateway at Hambro Perks, an advisory and investment boutique in London.

Shameel Khan, portfolio manager at Seedrs, added: ’’We are delighted to welcome InMyBag as a Seedrs Alumni Club partner.

’’We believe the company offers an innovative, on-demand service that the insurance market has been calling out for. In order to grow, businesses need uninterrupted access to gadgets like laptops and mobile phones.“