Swisscom, originally a telecommunications group, is now expanding into new business areas. The company has transitioned into an IT service provider and is now offering insurance services to customers. With the launch of “Swisscom sure,” customers can access a range of insurance products in addition to traditional telecommunication offerings. These include 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, explained 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, as it aligns with its goal of providing comprehensive services to customers. Wierzbitzki also emphasized that Swisscom aims to meet customer needs for simplicity, clarity, and flexibility in insurance coverage. This approach builds upon the popularity of existing device insurance options offered by the company.
The expansion of Swisscom into the insurance industry may raise concerns about competition and market distortions. However, Wierzbitzki clarified that Swisscom positions 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.
Overall, Swisscom’s expansion into new business areas shows its commitment to providing comprehensive services to customers while meeting their evolving needs for simplicity and flexibility in various industries such as telecommunications and insurance.