SureBright Launches: Offer Your Own Apple Care-Like Warranty Program in 10 Minutes!

SureBright recently launched!

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^{"Elevate your customer experience with seamless warranties"}

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^{tl;dr: Embedding these insurance products generates additional revenue, protects customers, and boosts customer loyalty at zero cost. And it’s as easy as signing up for Facebook if you still remember that! 😉 — Talk to them here.}

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‍Founded by Manish Chauhan & Sanket Munjal

Manish (CEO), a graduate of the University of Waterloo (MMath, CS) and INSEAD (MBA), has developed products for industry giants like Amazon and serves on the board of the InsurTech Association. Sanket (CTO) has led engineering departments at insurtechs such as Policy Bazaar, which has become a household name in India. Together, they bring 25 years of combined experience in insurtechs, startups, major tech companies, and business.‍‍‍‍‍

Warranty and insurance distribution in e-commerce has seen minimal change, with the industry evolving slowly. At Surebright, they're on a mission to revolutionize this by leveraging the latest advancements in generative AI. Their platform enables US and Canadian merchants to seamlessly integrate Apple Care-like warranty programs for any eligible product, from ovens to bikes. They achieve this with nearly zero onboarding and operating costs, allowing merchants to offer these warranties in just minutes across any sales channel.

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What is the problem? ❌

The cost of offering product warranties is exponentially high for merchants and insurers. As it follows:

1. Resource-Intensive Integration: Merchants must create a file transfer-based system to integrate with insurers. Additionally, they need to develop internal tools to apply the correct warranty plans to products, build custom UIs, and manage data collection, sharing, and tracking to meet both insurer and regulatory requirements. This entire process can take six months to a year to go live.
2. Recurring Additional Work: Maintaining integrations and tools requires dedicated engineering teams. Running the warranty program also requires dedicated time from the operation team. This usually requires additional hiring.

Below is what the current merchant landscape looks like:

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‍How is SureBright Solving these problems? 🎉

SureBright’s warranty program runs on auto-pilot, empowering merchants of all sizes and providing the following key benefits:

1. 99% less onboarding time, no onboarding or operating costs, and no recurring tasks or hiring required. Their end-to-end automated solution ensures you never worry about the warranty program.
2. Cover any product under warranty and offer other insurance products, such as Shipping Insurance, without lifting a finger.
3. Enjoy the highest warranty conversions in the industry, averaging around 20.2%.

With these benefits, they help merchants boost their bottom line by up to 12% through warranty margin share. Offering warranties also increases customer trust in the brand, leading to 15.6% more conversions and a 14% increase in Average Order Value. In addition, customers get a better post-purchase experience, resulting in more repeat customers and fewer negative reviews.

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The “aha” moment? 🎯🧠🧨

They began their journey to help smaller merchants (<$100M in sales) offer warranties. But, within 3-4 months of going live, they began attracting interest from larger merchants. The “aha” moment came when Insurance companies started utilizing their platform for their customers. This was a pivotal moment, leading them to develop SureBright as the Stripe for embedded e-commerce insurance products.

Today, their customers include a diverse range of merchants and marketplaces with $0.5M to $1B in sales, insurance companies, tech firms involved in consumer product purchase journeys (such as Buy Now Pay Later), warranty management companies, and other insurtechs.

You can explore their consumer journey with partners such as Blackstone, Magnum Bikes, WalkingPad, and Street Cred Capital (BNPL).

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Learn More

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^{‍🌐 Visit www.surebright.com to learn more.}

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^{🤝 If you know any merchant, marketplace, or company participating in the consumer purchase journey, such as Buy Now Pay Later and Checkout Management Companies, please make the introduction here.}

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^{📞 Interested and want to learn more? Book a call with the founders here.}

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👣 Follow SureBright on LinkedIn.}