Furniture etc. disturbed: Swisscom now wants to offer insurance too

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Swisscom causes dissatisfaction with a survey. Among other things, customers are asked about their interest in household contents, liability and legal protection insurance. Swisscom wants to gradually introduce additional types of insurance from 2024, the survey showed, as one customer told “CH Media”.

The company has confirmed that it will not limit its offering to selling mobile phone subscriptions, internet connections or television boxes in the future. Spokesperson Annina Merk confirmed that as part of its market research, Swisscom was discussing individual customers’ interest in such offers. Swisscom already offers device and cyber insurance today. “We are currently considering expanding our offering to meet customer needs for simple and digital solutions.”

Federally affiliated Swisscom sees no problem

The company is in talks with various partners to achieve this. According to Merk, it is not yet clear which products will be released. Swisscom does not want to say anything further.

Is this still part of the mandate of the telecommunications group, which is 51 percent owned by the federal government? “We don’t see any conflict here with the universal service mandate or the federal government’s goals for Swisscom,” Merk says. However, it states that it will only act as a seller and agent, even for future insurance policies. Axa is already responsible for the background of cyber and device insurance offered today.

Swisscom’s planned insurance push was not well received by private rivals. Swiss Insurance Association (SVV) spokesman Thilo Kleine said no information was available regarding the survey. “Basically, it can be said that SVV has always critically observed the expansion of state or state-affiliated companies into various areas of the private sector.” Companies that are majority state-owned will pose the risk of unequal competition.

Private rivals fear conflicts of interest

This may result in unfair advantages. “For example, through government cross-subsidies, regulatory advantages, or access to government resources and information,” says Kleine. Criticism from the private sector weighs heavily: SVV members include Mobiliar, Vaudoise and Zurich insurance companies.

Swisscom also faces the issue of potential conflicts of interest that could arise from expanding its insurance offerings, according to Kleine. “Especially when it comes to data protection and the use of customer data, which is particularly valuable for the insurance market.” (Snap)

Source :Blick