Jewelers Mutual® Group Acquires Core Luxsurance® Technology
Expands insurtech offerings with new solutions for jewelers to enhance the customer experience at point of sale
NEENAH, Wis. (January 26, 2023) - Jewelers Mutual® Group, the insurance and business solutions provider dedicated to the jewelry industry since 1913, recently 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.
Jewelers Mutual 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. The 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.
“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,” said Mike Alexander, Chief Operating Officer at 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,” said 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 interested in learning more about how the app works can visit JewelersMutual.com/luxsurance and get ready for broader availability in the coming months.
About Jewelers Mutual Group
Jewelers Mutual was founded in 1913 by a group of Wisconsin jewelers to meet their unique insurance needs. Consumers put their trust in Jewelers Mutual to protect their personal jewelry and the special moments it represents. The Group insurers’ strong financial position is reflected in their 36 consecutive ratings of “A+ Superior” from AM Best Company, as of November 2022. Today, Jewelers Mutual Group continues to raise the tide of the industry by listening to what jewelers need and offering products and services that meet those needs. A suite of powerful solutions is offered that enables businesses to streamline and grow, run secure and successful operations, and bring them closer to their customers. The Group insurers are Jewelers Mutual Insurance Company, SI (a stock insurer) and JM Specialty Insurance Company. Policyholders of the Group insurers are members of Jewelers Mutual Holding Company. The Jewelers Mutual home office is in Neenah, Wisconsin, with other Group offices in Dallas, Texas and Miami, Florida. To learn more, visit JewelersMutual.com.