Why Neighbors?

Why Neighbors?

In 2019, our founder, an MIT graduate, undertook the seemingly archaic task of faxing an Excel spreadsheet to file an insurance claim, only to find himself facing an agonizing two-month wait for a response.

Unfortunately, his claim was denied.

Possessing a deep background in technology, he anticipated a digitized, streamlined process. Instead, he discovered an unfortunate reality: many warranty companies were still painfully ensnared in outdated procedures. Slow responses, lack of clear communication, and subpar user interfaces were prevalent, causing an unnecessary poor customer experience.

Digital Adoption Deficiency

Numerous insurance firms in the U.S. lag noticeably behind in digital technology adoption for various reasons, leading to unrealized value for both the customers and the company. Those dealing with these late-adopters often grapple with extended response times, absence of personalization, restrictive communication channels, inefficient claim processes, and inconvenient policy management. Such factors greatly diminish the customer experience, making it far less satisfactory and efficient compared to what could be achieved with a digitally-forward insurer.

A Paradoxical Stance on Warranties

The above only highlights one aspect of a broader problem. There's a fascinatingly contradictory attitude towards warranties within the United States. On the one hand, the notion of purchasing additional warranties often encounters substantial resistance. But, flip the script slightly to: 'Would you like consistent, guaranteed performance from your product?' — the response is an emphatic 'Yes'. This inconsistency prompts a perplexing query — why does such a stark divergence exist?

This hesitation towards extended warranties can be traced back to a number of factors: transparency issues, inefficiencies, subpar customer service, hidden exceptions and loopholes, and an over-reliance on the manufacturer's warranty. By addressing these issues, we can bolster trust, enhance efficiency, and modernize their operations, thereby persuading more customers to recognize the value in their offerings.

Customers, both consumers and enterprises, crave simplicity, akin to the convenience of one-click shopping. They desire round-the-clock accessibility and swift delivery, along with lucid, pertinent details about a product’s attributes, especially concerning its price point. They also yearn for inventive, customized services crafted specifically for the digital era. This expectation remains consistent across all service providers, including insurers.

Pioneering the Path Forward: The Neighbors Way

At Neighbors, we firmly believe in the value of product protection plans. They deliver remarkable peace of mind and tangible benefits to our purchases.

Therefore, we made the bold decision to disrupt the stagnant product protection industry by establishing a novel kind of warranty enterprise. One that prioritizes you, the customer, and your experience. Here's our strategy to revolutionize the industry:

• Digital-First: We prioritize a digital-first strategy, recognizing the significance of harnessing the power of technology to enhance our services. This ensures seamless customer interactions, fostering convenience and immediacy in our engagement.
• Fast Claims: Our commitment to expediting claims processing underlines our focus on customer satisfaction. By streamlining processes and using cutting-edge technology, we ensure that claims are addressed swiftly and effectively.
• Always-On Support: Accessibility is key to our customer service strategy. With our robust online platform and dedicated phone support, we ensure that assistance is just a click or a call away, available whenever you need it.
• Transparency: Trustworthiness underpins our commitment to you, which is why we embrace transparent communication and uphold You-Get-What-You-See (YGWYS) principles. This approach guarantees that there are no surprises, and you always know exactly what to expect from our services.
• Efficiency: Operational efficiency is at the heart of what we do. By continually refining our operations and leveraging technology, we strive to deliver quality services with minimal delays or hassles.
• Cost-Effectiveness: We are dedicated to providing cost-effective solutions that maximize value. Our offerings are thoughtfully designed to provide substantial coverage at competitive prices, underscoring our commitment to your financial wellbeing.

Last but not least, in case you are wondering, we named our company Neighbors because we take the values embodied by good neighbors to heart: being friendly, helpful, and respectful. We are a part of the community and here whenever you need us. Just give us a holler.