Swisscom, originally a telecommunications group, has now expanded its services to become an IT service provider and an insurance broker. This expansion allows Swisscom customers to not only take out cell phone contracts or TV subscriptions, but also insurance through the newly launched “Swisscom Sure” offer. Previously offering device and cybersecurity insurance, Swisscom now plans to provide liability, travel, motor vehicle, and pet insurance as well.
Swisscom emphasizes that it will act as an intermediary in the insurance market, working with cooperation partners to provide these new services. By understanding customer needs and preferences through surveys, Swisscom aims to offer insurance products that align with simplicity, clarity, and flexibility, which are aspects important to customers. The company’s existing device insurance policies have been popular, with around 30 percent of customers currently utilizing them.
The decision to enter the insurance market is justified by Swisscom as a strategic move that aligns with the company’s growth goals. By offering a wide range of insurance products in partnership with established providers, Swisscom aims to meet the needs of its customer base. However, this expansion has led to some criticism, particularly from those who believe that state-owned companies should focus on essential services rather than competing in the insurance sector.
Despite some criticism, Swisscom’s move into the insurance market is supported by the federal government, which owns a majority stake in the company. The company’s growth strategy and ability to provide a diversified range of services have contributed to its success as an expanding player in various industries. While some may question the company’s entry into the insurance sector, Swisscom sees it as a strategic move to align with customer needs and continue its growth trajectory.