(Image source: Jewelers Mutual.)
Jewelers Mutual Group (Neenah, Wisc.), the insurance and business solutions provider dedicated to the jewelry industry since 1913, has announced its acquisition of the core technology of Luxsurance, LLC. This acquisition brings new technologies to the jeweler that transform the point-of-sale experience through an app that allows customers to digitally manage their new and existing jewelry with ease, according to a Jewelers Mutual statement.
Jewelers Mutual says it continues to work with jewelers to reimagine the customer experience and make it easy for customers to protect their jewelry purchases before they walk out of the jewelry store. The Lux Digital Vault is an app recently launched with a pilot group of independent jewelers. Its advanced software capabilities give customers a sleek and easy way to keep inventory of their entire jewelry collection, while allowing them to submit their jewelry descriptions directly to Jewelers Mutual to receive a quote and insure each piece with a click of a button, Jewelers Mutual says.
“The acquisition of the Luxsurance technology is an exciting opportunity for us as we continue to drive innovation and bring a new, comprehensive digital solution to market,” comments Mike Alexander, Chief Operating Officer, Jewelers Mutual. “In listening to our jewelers and agents, we’re uncovering growing business needs and investing in technology that enhances the experience for both consumers and jewelers. The digital vault will be transformational in strengthening jewelers’ in-store offerings while staying connected to their customers in new ways.”
“We’re excited about this acquisition as it will allow us to bring our innovative solutions to more jewelry retailers,” says Stephen Alexander, cofounder of Luxsurance, who has joined forces with Jewelers Mutual to continue driving the InsurTech platform forward. “The app is truly an added-value gift jewelers will be able to extend to their customers while building loyalty and strengthening relationships.”
The Lux Digital Vault seamlessly integrates into some of the most-used point-of-sale systems, including THE EDGE, Logicmate, ARMS and more joining the platform, Jewelers Mutual reports.