InsurTech Korea

LOTTE HIMART and bolttech Introduce Home Appliance Switch Service in South Korea

South Korean electronics retailer LOTTE HIMART has partnered with international insurtech company bolttech to introduce a home appliance switching service.

The new service is available for an annual subscription fee starting at US$30, with the option of an extended three-year warranty from the date of purchase.

This service, powered by bolttech’s insurance technology, is designed to offer a convenient, digital means for customers to replace electronics bought from LOTTE HIMART’s online and physical stores.

Accessible via a specialised online portal, the service promises a streamlined digital experience for customers seeking to replace their mobile phones, tablets, laptops, and PCs.

Each customer can register up to 16 devices across these categories for potential replacement. The service, which currently spans 350 stores, accommodates replacements within the same product category, without brand restrictions.

Junsuk Choi, Service Business Centre Leader at LOTTE HIMART highlighted its appeal to younger consumers and tech enthusiasts. He added that the company has plans to broaden the range of eligible replacement products, including large home and kitchen appliances, to enhance the shopping experience.

Jinmook Kim

Jinmook Kim, General Manager, Korea at bolttech said,

“We are honoured to be a part of this unique milestone in launching the first-ever home appliance switch service in South Korea. This partnership is well-aligned with our focus – working with our partners to enable customers with more choice and convenience in safeguarding their valued devices. We look forward to working alongside LOTTE HIMART to enhance customer experience further in the months to come.”