Partnerships
Hakuna is Peloton’s European partner for product protection
Rupert Mayer
3.9.2024
Peloton is an American exercise equipment and media company that sells fitness bikes, treadmills, and rowers equipped with built-in touch screens that can stream their subscription-based fitness classes. They have over 6 million members worldwide and have sold millions of devices, which are currently available for purchase and delivery in the USA, the United Kingdom, Canada, Australia, and Germany.
Peloton understands the value of product protection for premium products like theirs. By offering protection plans alongside their fitness devices, Peloton is able to increase the intrinsic value of their products while also providing peace of mind to their customers.
This customer-centric approach pays off! At peak times, Peloton sells over 10,000 product protection policies per month in the USA.
To leverage the benefits of product protection on the European market, Peloton needed a European partner. As a product protection specialist with high quality insurance products, first-class administrative systems and a multi-channel solution for the European market, Hakuna was the natural choice.
As Peloton’s European partner, Hakuna enables Peloton to offer 48-month comprehensive coverage plans for the Bike, Bike+ and Tread to their German customers in any of their channels with a single integration. All plans include accidental damage and technical defect protection and can be purchased either at checkout, both online and in store, or up to two years post-purchase via the Peloton support team.
With a Hakuna-powered Peloton protection plan, customers get in-house support from Peloton, and on-site service by Peloton-authorized technicians with genuine replacement parts in the event of an issue with their Peloton equipment. Any repair or replacement costs are fully covered by Hakuna. This is a significant relief for customers, given that replacement parts can cost up to 900 € when not covered by a protection plan.
Hakuna also enables Peloton to remain the central point of contact throughout the entire process so they can build stronger relationships with their customers. In the event of a claim, customers just need to contact Peloton Support to report the issue. Peloton support staff can immediately verify the claim with Hakuna using an online tool that provides immediate feedback. Once the claim is verified, they can arrange for the repair and/or replacement with the customer at their convenience. There is no red tape or extra bureaucracy.
“Hakuna's flexible platform and proactive support made them the perfect partner for Peloton in Europe. Together, we have created a product protection program that can truly go the distance.”
Hakuna is a product protection specialist. With their end-to-end technology platform and a strong network of insurance partners, they provide merchants with everything they need to develop their own multichannel product protection programs for their European retail businesses.