Swisscom, originally a telecommunications group, has been expanding into new business areas and is now an IT service provider and insurance broker. With the launch of “Swisscom sure,” customers can now access insurance services in addition to traditional telecommunication offerings. This new venture includes liability, travel, motor vehicle, and pet insurance, among others, provided through cooperation partners such as Zurich and ERV.
Dirk Wierzbitzki, head of the private customers department at Swisscom, clarified that the company will not be the primary insurer but will act as an intermediary for insurance products. The move into insurance is seen as a strategic business decision for Swisscom, aligning with its goal of providing comprehensive services to customers. The company aims to meet customer needs for simplicity, clarity, and flexibility in insurance coverage, building upon the popularity of existing device insurance options.
Although Swisscom’s expansion into insurance may raise concerns about competition and market distortions, the company is positioning itself as a digitalization partner in Switzerland. The federal government has supported Swisscom’s growth strategy despite some calls for privatization to address issues of competition and market fairness. As Swisscom continues to diversify its offerings, it will be interesting to see how the insurance sector fits into its overall business model and strategic objectives.
Swisscom’s expansion into new business areas shows that companies are always looking for ways to grow their businesses by offering new products or services. In this case, the company is expanding beyond telecommunications and becoming an IT service provider and an insurance broker. This move allows them to provide more comprehensive services to their customers while also expanding their revenue streams.
The introduction of “Swisscom sure” offers customers access to various types of insurance products such as liability, travel motor vehicle pet among others through cooperation partners like Zurich and ERV. Dirk Wierzbitzki explains that Swisscom will not be the primary insurer but will act as an intermediary for these products.
This move is seen as a strategic business decision by Swisscom as it aligns with their goal of providing comprehensive services to their customers. It builds on the popularity of existing device insurance options by offering more flexibility in coverage options.
However, this expansion may raise concerns about competition in the marketplace.
Despite some calls for privatization from competitors or other stakeholders concerned about competition or fairness issues related to market dominance or monopoly power structures within specific sectors., The federal government has supported Swisscom’s growth strategy.
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