Products
Industria Försäkringsaktiebolag conducts its operations in three main segments:Product, security and assistance. Below is a more detailed description of each area.
Product
Within the product segment, Industria Försäkringsaktiebolag offers all-risk insurance and deductibles for a wide selection of product categories, both as individual insurances and group insurance solutions, where the main part consists of mandatory group insurances.
The company has a particularly strong market position in bicycle and home electronics insurance in Sweden and Norway, where long-term collaborations with leading retail chains have contributed to its success. In addition to these areas, product insurance also includes white goods, garden tools, glasses, watches and jewelry.
Security
The security segment includes income insurance, payment protection insurance (PPI) and accident insurance.
Bid Bond – Provides assurance to the project owner that the bidder will honor the terms of their proposal and, if selected, enter into the contract.
Performance Bond – Guarantees that the contractor will complete the project in accordance with the agreed terms, specifications, and timeline.
Advance Payment Bond – Protects the client by ensuring repayment of any advance funds if the contractor fails to deliver as promised.
Maintenance Bond – Covers the correction of defects or failures that arise during the post-completion warranty period.
- Income insurance – guarantees the policyholder up to 80 percent of the salary, even at income levels above the social security fund’s compensation ceiling.
- PPI (Payment Protection Insurance) –Offered in Sweden as both mandatory and voluntary group insurance, while individual insurances are distributed in other Nordic countries where Industria Försäkringsaktiebolag operates. The insurance covers loan or credit costs for up to 12 months in the event of unforeseen events. For customers with mandatory group insurance, PPI can be included at no extra cost during an initiation period, for example three months after taking out a loan or credit.
- Accident insurance –Provides financial compensation in the event of accident-related injuries, such as broken bones or dental injuries.
The security insurance is mainly distributed through collaborations with banks and credit institutions.
Assistance
The assistance segment includes road assistance, vehicle warranty insurance and the recently introduced deductible. In addition, insurance solutions are also offered for the travel industry.
- Roadside assistanceProvides the policyholder with, for example, a puncture or stoppage and may include compensation for rental cars and hotels. The collaboration with SOS International ensures simple and fast contact when necessary. Roadside assistance is distributed both via partners, such as car dealers and workshops, and directly to consumers.
- Vehicle warranty insuranceProvides a security package for vehicle dealers, where customers who buy a vehicle are offered the opportunity to sign a warranty. Industria insurance joint-stock companies simultaneously take over the vehicle dealer’s financial risk of compensable errors during the warranty period. These insurances are distributed via affiliated agents.
- Deductible helpActs as a supplement to regular vehicle insurance and involves a reduction or elimination of deductible in the event of, for example, theft, accident or break-in in the vehicle. This product is distributed both through partners and directly to consumers.
- Travel insuranceIncludes, among other things, cancellation protection and distributed via travel agencies and directly to consumers.
Through these three business areas, Industria Försäkringsaktiebolag ensures a broad and competitive offer that meets customers’ needs within various insurance solutions.
