What happened: Vorwerk, the German corporation best known for its kitchen product Thermomix and vacuum cleaners, has announced a new insurance product for its vacuum cleaner brand, Kobold (Hakuna). The German corporation is partnering with the embedded insurance startup Hakuna.
With embedded insurance products, customers can extend their normal 2-year warranty with an additional 3-year protection. The insurance product can be purchased through any available channel: online, in one of the 50 Vorwerk stores, or through one of the 2,000 Kobold advisers that the company partners with.
My comment: I cannot claim to be an embedded insurance expert, but I have noticed that Hakuna has signed up interesting partners in the past few months. In addition to Vorwerk, I have already covered their partnership with eyeglass retailer MisterSpex and the discount retail chain Netto. These are some big names. We all know that such announcements do not necessarily translate into big business, but Hakuna’s embedded insurance offering that can be used for online and offline purchases seems to be attractive.
