EIP partners with Nexacore on device cover push in Asia

EIP has partnered with Nexacore to provide device protection and extended warranty services across Southeast Asia and Australia. The agreement combines EIP's embedded insurance platform with Nexacore's regional insurance administration capabilities.

Together, the companies plan to work with insurers, retailers and other distribution partners to launch and run protection programmes through a single offering. The focus is on products sold alongside electronic devices, as retailers increasingly add insurance or warranty cover at the point of sale.

The deal links EIP's software for distributing and administering embedded insurance with Nexacore's operations in Singapore, Malaysia and Australia. Nexacore specialises in third-party administration and claims management for device protection and warranty programmes, while EIP focuses on insurance products integrated into customer purchase journeys.

Both companies are targeting the market partly because of regional growth. According to figures they cited, the Asia-Pacific electronic gadget insurance market is forecast to grow at a compound annual growth rate of 13.7% through 2030.

That growth is drawing insurers and retailers towards more integrated products, rather than treating insurance and warranties as separate add-ons after purchase. The partnership aims to simplify programme design, distribution, administration and servicing for companies seeking a single route to market across those functions.

Regional Push

For EIP, the agreement expands its reach in a market where demand is rising for local execution supported by digital infrastructure. Founded in 2004 and based in the UK, EIP says it manages £220 million in annual premiums and processes more than 300,000 claims each year.

Nexacore, founded in 2024, focuses on administration for device protection and extended warranties. Its management team says it has more than 20 years of sector experience, and the company has established branches in Singapore, Malaysia and Australia.

The partnership reflects a wider trend in insurance distribution, particularly in consumer electronics, where cover is increasingly presented during checkout rather than marketed separately. The model has become more common as retailers look for additional revenue streams and insurers seek access to customers when they buy high-value devices.

Ross Sinclair, founder and chief executive officer of EIP, said: "Southeast Asia represents a major growth opportunity for device protection and extended warranty, but insurers and retailers are often still forced to stitch together multiple providers across technology, administration and local delivery.

"They increasingly want partners who can help them move quickly through an all-in-one approach without compromising on quality or long-term scalability. By combining Nexacore's reach in Southeast Asia with EIP's technology and expertise, we're creating a practical route for clients in the region to launch robust device protection and warranty programmes at scale."

Point of Sale

Embedded insurance is becoming a larger part of the retail and telecoms landscape, especially for products such as smartphones, tablets and other personal electronics. Providers in this market aim to make cover available within the purchase process, often with automated enrolment, policy administration and claims handling built into retailer or distributor systems.

EIP says it has previously deployed programmes for brands including Vodafone, O2 and Monzo. Its product range includes device insurance, multi-gadget cover and extended warranties, as well as other insurance and assistance products.

For Nexacore, the partnership adds a technology layer to its administrative and servicing work. That could help it offer insurers and retailers a broader package, particularly in markets where local relationships and compliance processes still require in-country operational support.

Melanie Hawgood, co-founder and chief executive officer of Nexacore, said: "Joining forces with a trusted technology partner like EIP adds another layer to our proposition, strengthening the solutions we can deliver to clients.

"Southeast Asia is a high-growth market for device protection and extended warranty, and there is a clear gap for an end-to-end solution that combines strong regional commercial execution with specialist, enterprise-grade technology. We are pleased to bring together complementary capabilities from two regions to build a broader, stronger proposition for the market."