New Games Console Insurance Solution from Citymain

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Theft, Accidental Damage and Extended Warranty solutions offered

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“We at Citymain, like in the many other countries where the SPB Group offers game console insurance, know that that the market continues to go from strength to strength every year,” remarked Paul Kelsey, Managing Director of Citymain.

Citymain, the UK’s leading “gadget” insurance specialist, is adding to its already extensive product portfolio with a new insurance product that specifically covers game consoles. Designed to provide a comprehensive cover for the end user, the new policy covers both static and portable games consoles.

Citymain’s game console insurance product has been developed following the huge success of a similar offering by its parent company, the SPB Group, throughout France, Spain, Italy and Poland. The SPB Group itself currently insures over one million game consoles in Europe. These policies were sold to end consumers via leading games retailers, allowing them to offer more services and to generate valuable extra revenue.

Protection against product failure can be provided via Extended Warranty programmes for both new and used game consoles, as well as more comprehensive cover for theft, loss (particularly for portable game consoles) and accidental damage (including liquid damage). Programmes can be individually designed to meet retailers' requirements and customized in line with the types of games consoles they sell.

The insurance programme is a revenue avenue for retailers and can be offered either as an optional customer purchase during the point of sale (be it fixed annual coverage or on a month-by-month basis) or as an included “free of charge” feature that creates both a unique selling point and customer loyalty.

Citymain provides all aspects of scheme administration, which can be white-labeled in the name of the retailer, including policy issuance and full claims handling via its call centre on the Isle of Wight. Game console replacements and repairs can either be fulfilled by the retailer or can be handled by Citymain itself via its network of approved suppliers.

“We at Citymain, like in the many other countries where the SPB Group offers game console insurance, know that that the market continues to go from strength to strength every year,” remarked Paul Kelsey, Managing Director of Citymain. “With our product, customers are offered peace of mind that their damaged or defective console can be fixed or replaced with a minimum of time and effort.”

The UK market for game consoles was worth £2.875 billion in 2010, and is showing strong signs so far in 2011. Citymain aims to make it as easy as possible for clients to take strategic advantage of this tailor-made and timely product. As the games console market is becoming increasingly competitive, retailers are looking for ways to differentiate themselves by adding value and service to their customers while maintaining the strongest margins possible.

Notes to the Editor
With 26 years of experience, Citymain has established itself as one of the UK’s leading independent providers and administrators of specialist insurance products. Citymain’s core products include insurance products for mobile phones, laptops, handheld gadgets, brown and white goods as well as purchase protection and price promise. Citymain also provides non insurance services such as a Technical Support Helpline for today’s complicated gadgets and Identity Theft protection and resolution. All of the above products can be sold on a stand alone basis or bundled with other services, such as credit cards and current accounts, to add further customer value. Citymain’s head office and call centre is based in Ryde on the Isle of Wight, with operations also based in the Lloyds Building of London.

Citymain is part of the SPB Group. Created in 1965, the SPB Group ensures more than 18 million electronic devices in Europe. It is a worldwide leader in insurance products for banking and new technologies. It employs nearly 1,000 employees and posted a 2010 net income of €79.2m. The group is independent and is 92% owned by the Guian family. The company is present in Germany, Belgium, Spain, France, Great Britain, Italy, Portugal, Luxembourg, Poland, Romania, Switzerland and Tunisia.

For further information please contact
Neil Spanswick
Email: neilspanswick(at)citymain(dot)com
Tel: +44 (0)1 983 618 194
Mobile: +44 (0)7786 922 640

Erin Mullally
Hopscotch Europe In One
Email: emullally(at)hopscotch(dot)eu
Tel: +44 (0)2 081 333 140

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Selene Alford
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