Zopper: Life care of your devices and appliances
Zopper is a full stack insurtech company that provides life care for electronic appliances and consumer durables. Zopper has partnered with more than half a dozen insurers to create industry relevant warranty and device protection plans in the consumer durable and mobile devices space. Today Zopper is present in 300+ cities in India and has sold more than half a million warranties and protection plans.
The Consumer Durables and Smartphones Warranty and Protection market in India is still in the nascent stages and lacks presence of any incumbent large player. This is where Zopper comes in. They manage the entire customer journey right from purchase of warranty until claim closure. Their customer centricity is shown by their 99%+ Claim Acceptance Rate.
Zopper is in this business for the last 4 years, however, last 1 year has seen the real growth of the company. They have increased their sales 10X in last one year and have achieved profitability for the last three months. They have sold more than half a million warranties so far. At the moment they work with 7 insurers. Zopper manages all parts of the insurance value chain right from Insurance Purchase, Insurance Registration, Claim Filling, Claim Servicing, Claim Settlement and not the least, Claim Documentation.
End to end experience
The competition is addressing only parts of the entire value chain, leaving the customer clueless about other aspects of the entire experience. Zopper offers end to end experience through a single technology stack, thereby making it seamless for insurers, sales channel, service partners and the customers.
In India they have a fragmented yet deeply penetrated retail landscape: 90 per cent unorganized, 2 per cent ecommerce and 8 per cent organized. As the supporting infrastructure of ecommerce is poor, embracing the unorganized retailers is the only way to provide great customer experience and make economic profits for all stakeholders. Both types of commerce, traditional ecommerce and physical retail, have inherent inefficiencies. An omni-channel model like Zopper that marries the trust and ubiquity of deeply penetrated physical retail with the convenience and selection of ecommerce, this model of commerce drives the fence sitters to transact online but also empower the retailers to establish their digital presence.
How it works
Zopper is making consumer durable life care management seamless for the customer by bringing everything on a common app.
Why we selected Zopper for DIA Amsterdam
Predictive Modelling, one-app-for-all-your-appliances. At Zopper they connect all pieces of customer journey together in one place. Also, they use technology to make processes scalable and easier for the insurers, sales channel and the service providers.An omni-channel model like Zopper will probably emerge as the ONLY successful model of commerce in India.
At DIA Amsterdam Surjendu Kuila, CEO Zopper will present the Zopper Value Chain and the Product Ecosystem.
Who is Zopper?
Zopper’s cofounder and CEO is Surjendu Kuila. Surjendu has over 20 years of experience including working in the US in companies like Apple and RSA. Mayank Gupta is the COO of the company and has over 12 years of experience including working in companies like Bank of America and Coursera. Both Mayank and Surjendu are MBAs from prestigious Indian Institutes of Management.
They have raised a total of USD 25 million from Tiger Global, Nirvana and Blume Ventures. Early this year, a part of business of Zopper was acquired by PhonePe, a subsidiary of Walmart-owned Flipkart in India.
Surjendu Kuila, Zopper’s cofounder and CEO