2/15/2008 10:29:00 AM
Cashback insurance policy launched
A mobile phone insurance company yesterday launched what it claims is the first-ever insurance policy aimed at cashback.
With confidence in incentive offers at a low, FoneShield UK Ltd hopes its insurance cover will restore consumer’s faith in cashback deals.
Director of FoneShield Amian Moaven said: ‘Our CaShield product has been developed in response to the growing customer concerns over claiming cashback from dealers. This is forcing customers to abandon the small innovative dealer for the likes of high street chains or go direct to the mobile networks. This trend will damage our vibrant mobile phone sector in the UK, as it will reduce consumer choice.
‘Whether we like it or not, cashback remains the only effective way that the independent dealer can compete with the reduced line rental offers made by networks and multiple high street retailers.’
The £2 premium, which is due to be sold through independent mobile phone dealerships, will offer cover up to £250 for any unfulfilled cashback or gift items.