It’s hard to believe that a year has passed since HYLA Mobile joined Assurant to form the world’s largest and best provider of device trade-in, upgrade and asset value recovery solutions. We’ve made incredible progress in that time, working together to integrate our talented teams and proprietary systems into one organization.
We’re now providing best-in class services to eight out of the top ten global telecommunication brands including industry leading carriers, OEMs and retail partners. We’re also on track to help our client partners reclaim 21 million devices in 2021, an annual increase of 67%, generating nearly $3 billion in reclaimed value and preventing vast amounts of e-waste from being dumped in landfills.
As a final step in our integration, we are retiring the HYLA Mobile brand name and will now market our trade-in, upgrade and related services as Device Lifecycle Solutions, which is part of Assurant’s Connected Living business. This new name better reflects the broad array of products, services and benefits that our combined organization provides to our clients and their customers.
As we look to 2022 and beyond, we will continue to enhance our integrated digital platforms and capabilities to provide even better client and customer experiences. This includes our proprietary, best-in-class software and data analytics, embeddable digital interfaces, omni-channel intake capabilities, on-device diagnostics and global disposition networks – all of which help to deliver the industry’s highest trade-in and recovery values, driving unmatched customer acquisition and retention rates. We continue to expand the product categories supported by Assurant’s Device Lifecycle Solutions to now include wearables, hearables, laptops and home automation products, thereby increasing the footprint of our circular economy contributions.
We also will continue to be the industry leader in sustainability and contributor to the circular economy. Earlier in 2021, we repurposed our 100 millionth mobile device underscoring our commitment to align our business strategy with sustainable practices. As more consumers take advantage of trade-in offers to upgrade to new 5G devices, we expect the environmental impact of our operations to increase.
Thanks to all who have been a part of our journey over the past year. It’s been a wonderful experience and I look forward to sharing many more successes with you in the future.
Biju Nair, President, Global Connected Living.