Minneapolis — Extended-warranty startup Upsie is looking to upend the way service contracts are traditionally sold.
The company, backed by New Leaf Service Contracts, is offering discounted service plans that can be purchased via a mobile app.
Customers can receive coverage and pricing options by scanning the barcode of CE, majap, lawn care and other products, and can use the app to purchase a warranty, save receipts and access coverage information.
Warranties can be purchased for items that were bought up to two months prior.
Depending on the product, Upsie says its prices are 50 percent to 90 percent lower than those of plans sold by retailers and other direct sellers, and, unlike many extended warranties, carry no deductibles save for a $25 charge for accidental damage and handling (ADH) claims.
“We all want to protect our investments in the things we love, whether it’s a new television, a stainless-steel refrigerator or that riding lawn mower you’ve always wanted,” said Clarence Bethea, founder/CEO of Upsie. “The process of selecting and managing extended-warranty coverage should be just as rewarding as shopping for the products, and that’s the inspiration behind Upsie — to give customers more choice and control over the process, but also ensure it’s a fun and trouble-free experience.”
Underwriting and administrative services are provided by New Leaf, which partners with A-rated insurance carriers to administer and market service contracts on a wide range of products throughout the U.S.
“We are very excited about the partnership and are expecting great things from the relationship,” New Leaf CEO Sean Hicks told TWICE in an email.
The free app is available in the Apple iTunes Store for iOS 7 or higher, and in the Google Play store for Android OS 4.1 or higher.