Asurion

Asurion, LLC
Privately held
Industry Information Technology
Founded 1994
Headquarters Nashville, Tennessee, United States
Area served
 Worldwide
Key people
 Kevin Taweel (CEO)
Products Information Technology
Number of employees
 17,000+
Website asurion.com

Asurion, LLC is a privately held company based in Nashville, Tennessee[1] that provides insurance for smartphones, tablets, consumer electronics, appliances, satellite receivers and jewelry. In 2014, the company operated in 14 countries and had 49 offices with 17,000 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 received a CES Innovation Award in 2015 for its support and protection apps that combine live support and instant notifications.[7]

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)[8]
  • 2008 – National Electronics Warranty (NEW Customer Service Company)[9]
  • 2013 – Soluto[10]
  • 2017 – Sprint Service and Repair
  • 2017 – Simplr[11]
  • 2017 – Drippler[12]

References

  1. ↑ "Asurion to grow in Nashville". The Commercial Appeal. December 17, 2010. Retrieved 24 June 2014.
  2. 1 2 3 4 "As mobile use climbs, Asurion grows". The Tennessean. September 25, 2014. Retrieved 6 April 2015.
  3. 1 2 "Paying Entrepreneurs to Find the Right Business". The New York Times. March 11, 2009. Retrieved 6 April 2015.
  4. ↑ "Asurion Australia Invest $30m to create 300 jobs". ZDNet. June 3, 2014. Retrieved 6 April 2015.
  5. 1 2 "Asurion completes Lock\line deal". Nashville Business Journal. January 3, 2006. Retrieved 6 April 2015.
  6. 1 2 "Asurion Wraps Up Deal for Lumitrend". Nashville Business Journal. June 21, 2006. Retrieved 6 April 2015.
  7. ↑ "Jerusalem start-up wins top tech prize for robo printer". The Times of Israel. January 9, 2015. Retrieved 6 April 2015.
  8. ↑ "Asurion plans big new Atlanta software". Atlanta Business Journal. December 16, 2011. Retrieved 6 April 2015.
  9. ↑ "N.E.W. Merges with Asurion". Private Equity Hub. May 23, 2008. Retrieved 6 April 2015.
  10. ↑ "Cloud based device management startup, soluto, acquired by device insurer Asurion". Techcrunch. October 30, 2013. Retrieved 6 April 2015.
  11. ↑ "Fast-growing Asurion launches new company". Nashville Business Journal. April 12, 2018. Retrieved 2 July 2018.
  12. ↑ "Mobile Insurance Company Asurion Buys Device Tech Support Startup Drippler". Calcalist. December 19, 2017. Retrieved 19 December 2017.
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