Asurion
 | |
| Company type | Privately held |
|---|---|
| Industry | Telecommunication |
| Founded | 1994 |
| Headquarters | , |
Area served | Worldwide |
Key people | Kevin Taweel (CEO) |
| Products | Insurance |
Number of employees | 15,000+ |
| Website | asurion.com |
Asurion, LLC is a privately held company based in Nashville, Tennessee[1] that provides device protection and support services for smartphones, tablets, consumer electronics, appliances, satellite receivers and jewelry. The company operates in 14 countries and has 49 offices worldwide with 15,000 employees serving 280 million consumers.[2]
History
In 1995, Stanford graduates Kevin Taweel and Jim Ellis used a search fund to acquire the Houston-based roadside assistance company, Road Rescue.[3] The roadside assistance service was sold through local wireless carriers. Four years later, they purchased Nashville-based Merrimac Group, which was offering specialty insurance to cover cellphones.[3] The company began expanding its operations globally in 2003, with an expansion into Asia followed by expansions into Europe (2008) and Australia (2013).[4] The company expanded into Latin America in 2014 with a partnership with America Movil.
In 2006, Asurion became the first company to offer a full 50-state compliant Accidental Damage from Handling (ADH) product to retailers.[2] The company’s products, services, and clients have expanded since founding, due in part to acquisitions.[5] With the acquisition of Lumitrend and Soluto, the company expanded its product portfolio to support the connected home and a consumers connected life.[6]
Services
The company’s services are sold through mobile phone carriers, direct broadcast satellite service providers and retailers, such as AT&T, Verizon Wireless, Sprint, NTT DoCoMo, DirecTV, Walmart, Amazon, Costco, Toys R Us, Target and Office Depot. Asurion has an A+ rating with the Better Business Bureau.[7] The company was recognized by the Consumer Electronics Association in 2015 with a CES Innovation Award for its support and protection app that combines live support, notifications to keep devices running and mobile security.[8]
Mergers and acquisitions
- 1995 – Road Rescue[2]
- 1999 – The Merrimac Group[2]
- 2006 – Lock\line[5]
- 2006 – Lumitrend[6]
- 2006 – Warranty Corporation of America (WaCA)[9]
- 2008 – National Electronics Warranty (NEW Customer Service Company)[10]
- 2013 – Soluto[11]
References
- ^ "Asurion to grow in Nashville". The Commercial Appeal. December 17, 2010. Retrieved 24 June 2014.
- ^ a b c d "As mobile use climbs, Asurion grows". The Tennessean. September 25, 2014. Retrieved 6 April 2015.
- ^ a b "Paying Entrepreneurs to Find the Right Business". New York Times. March 11, 2009. Retrieved 6 April 2015.
- ^ "Asurion Australia Invest $30m to create 300 jobs". ZDNet. June 3, 2014. Retrieved 6 April 2015.
- ^ a b "Asurion completes Lock\line deal". Nashville Business Journal. January 3, 2006. Retrieved 6 April 2015.
- ^ a b "Asurion Wraps Up Deal for Lumitrend". Nashville Business Journal. June 21, 2006. Retrieved 6 April 2015.
- ^ "BBB A+ Rating". BBB of Middle Tennessee. April 6, 2015. Retrieved 6 April 2015.
- ^ "Jerusalem start-up wins top tech prize for robo printer". The Times of Israel. January 9, 2015. Retrieved 6 April 2015.
- ^ "Asurion plans big new Atlanta software". Atlanta Business Journal. December 16, 2011. Retrieved 6 April 2015.
- ^ "N.E.W. Merges with Asurion". Private Equity Hub. May 23, 2008. Retrieved 6 April 2015.
- ^ "Cloud based device management startup, soluto, acquired by device insurer Asurion". Techcrunch. October 30, 2013. Retrieved 6 April 2015.