Safety enterprise Asurion slashes headcount


Asurion has ranked among the many largest non-public corporations in Nashville in recent times, having reported 2020 income of $10.6 billion, the Nashville Business Journal stated.

Asurion, which sells gadget, telephone, and equipment guarantee cowl in addition to providing restore companies, didn’t reply to a request for remark when approached by Insurance Business.

Users on a Nashville social media discussion board, who claimed to be workers members, reported potential cuts throughout a number of areas of the enterprise, with affected people being notified yesterday.

The reductions are the most recent in a tide of layoffs to have an effect on the insurance coverage sector – although these have been concentrated throughout the insurtech neighborhood.

Recent US insurance coverage personnel cuts have included insurtech Next Insurance slicing its 800-strong headcount by 17%.

Next Insurance co-founder and CEO Guy Goldstein blamed worsening financial situations, a shift in the direction of prioritizing profitability, and price administration drivers for the discount in a message to workers earlier this month.

Dallas-based life insurtech Bestow confirmed it was trimming its workforce by 14% in June, in response to “altering market situations”, with round 41 workers affected.

Policygenius, Thimble, Root Insurance, Sidecar Health and Coterie have additionally reportedly made layoffs because the begin of this yr.

Cuts haven’t been restricted to the US – additionally this month, Insurance Business revealed that UK-based industrial motor supplier Zego was lowering its headcount by 17%, which Insurance Business understands adopted a wave of redundancies throughout the first UK COVID-19 lockdown.


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