Al Rajhi Takaful, Servify launch extended warranty coverage product

The signing of the agreement

Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) announced the launch of an extended warranty coverage product, in partnership with Servify for Communications and Information Technology.

The new product offers extended warranty coverage on electronic and electrical devices, such as smart phones, tablets and home appliances.

Al Rajhi Takaful aims to sell this product through various sales channels and to conclude deals with major merchants selling home appliances. It also seeks to offer it under the home insurance product to provide the maximum possible level of protection and insurance solutions for the Saudi market.

This step comes as an extension of the insurer’s vision to redefine the concept of insurance in the Kingdom by providing added-value innovative, reliable protection solutions, it noted.

Servify operates the product lifecycle management platform for the best original equipment manufacturers (OEMs) in the world to help consumers purchase products at a reasonable cost. It provides protection for clients’ products during use and/or coverage extension, and assists in the smooth replacement/upgrade during their shelf life.

It commenced its activity in India in 2015, in partnership with more than 50 of top OEMs in the world.