TapSafe™ Smart Connected Warranty App Launches at CES to Identify and Protect All of Your Connected Devices
January 09 2018 - 9:00AM
74% of Households Have More Than $2,500 in
Connected Devices
TapSafe™, a new warranty app and platform launched today by
AmTrust Financial Services, Inc.
(Nasdaq:AFSI) (the “Company” or “AmTrust”)
, a
multinational property and casualty insurer, at the CES show in Las
Vegas
, will enable consumers to automatically
find, identify and protect all of their connected devices including
phones, tablets, smart home hubs, wearables and more. The new
product, developed by AmTrust Innovation, the products and services
innovation arm of AmTrust Financial, allows users to buy warranty
protection and technical support for any connected devices. Nearly
three-quarters (74%) of US households have over $2,500 in connected
devices and 50% have had a device damaged or malfunction in the
past year according to the AmTrust Connected Households 2018
survey.1 The majority of survey respondents anticipated buying at
least 2 additional connected devices for friends, family or
themselves this holiday season.2
TapSafe’s automatic connected device discovery technology is
supported by AmTrust’s partnership with Fing, a provider of network
security and troubleshooting solutions with over 25 million
downloads and the discovery of over 9 billion connected devices
internationally. Warranties on devices detected by the TapSafe app
are backed by AmTrust, a Fortune 500 company and a leading warranty
insurer covering over $1 billion in warranty insurance premiums
annually.
"TapSafe provides consumers the easy and accessible coverage
options they need for the growing number of connected devices in
each home," said Paul Leahy, President of AmTrust Innovation Labs.
"We believe that with this kind of technology and a partner like
Fing, AmTrust will be an industry leader in providing customer
focused-solutions to traditional insurance and service contract
businesses."
TapSafe protects connected devices including smart TVs,
connected thermostats, smart speakers, hubs and network routers
against power surge, mechanical breakdown and accidental damage.
Customers have access to live on-demand technical support and
in-person installation services from a nationwide installation
network.
Dominico Crapanzano, CEO of Fing says “Fing’s focus on providing
IoT device recognition software will mean the end customer can
identify devices in real time and customize the protection level
they desire through the TapSafe app. We anticipate this partnership
will really be a win for the customer by bringing together cutting
edge technology and innovative protection solutions all in an easy
to use online experience.”
“The proliferation of connected devices brings a new level of
complexity and risk for consumers,” observes Brad Russell, Research
Director for Connected Home at Parks Associates. “While
manufacturers’ warranties provide a minimum level of protection,
AmTrust’s new TapSafe platform will help consumers manage
protection and support for all of their devices in one convenient
app. On average, 34% of smart home device owners reported
problems with a device in 2017 compared with 28% in 2016.”
To learn more about TapSafe or AmTrust, please go to
www.tapsafe.com or www.amtrustfinancial.com.
About AmTrust Innovation
AmTrust Innovation, the products and services innovation arm of
AmTrust Financial, is responsible for developing new product
strategy across multiple facets of AmTrust’s international business
as part of the organization’s ongoing digital transformation
endeavors.
Building on the ethos of providing ‘protection as a service’ the
group has developed the TapSafe™ platform, which will evolve to
deliver compelling and innovative product offerings to AmTrust’s
enterprise clients and their customers.
About AmTrust Financial Services, Inc.
AmTrust Financial Services, Inc., a multinational insurance
holding company headquartered in New York, offers specialty
property and casualty insurance products, including workers'
compensation, commercial automobile, general liability and extended
service and warranty coverage through its primary insurance
subsidiaries rated "A" (Excellent) by A.M. Best. AmTrust is
included in the Fortune 500 list of largest companies. For more
information about AmTrust visit www.amtrustfinancial.com.
For more information, please contact:
AmTrust Financial Services Hunter
HoffmannGlobal Director of Public
RelationsHunter.Hoffmann@amtrustgroup.com646.458.3362
This news release contains certain forward-looking statements
that are intended to be covered by the safe harbors created by the
Private Securities Litigation Reform Act of 1995. When we use words
such as "anticipate," "intend," "plan," "believe," "estimate,"
"expect," or similar expressions, we do so to identify
forward-looking statements. Examples of forward-looking statements
include the plans and objectives of management for future
operations, including those relating to future growth of this
business and successful launch of new products, and are based on
current expectations that involve assumptions that are difficult or
impossible to predict accurately and many of which are beyond our
control. Actual results may differ materially from those expressed
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uncertainties, as well as others that may cause actual results to
differ materially from those projected, is contained in our filings
with the SEC, including our Annual Report on Form 10-K and our
quarterly reports on Form 10-Q. The projections and statements in
this news release speak only as of the date of this release and we
undertake no obligation to update or revise any forward-looking
statement, whether as a result of new information, future
developments or otherwise, except as may be required by law.
1 AmTrust Connected Households
2018 survey was conducted by ORC International In
December 2017 and included responses from 1,021 individuals across
the United States.2 Ibid.
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