Swiss telecommunications company plans insurance offensive: How does this fit with the company's mission?

Swiss telecommunications company plans insurance offensive: How does this fit with the company's mission?

According to a report by www.watson.ch

Swisscom, a company majority owned by the federal government, plans to expand its offering to include additional insurance. This is causing debate as to whether this is still part of the actual mission of a telecommunications company. The planned additional insurance is expected to be launched gradually from 2024 and will include household contents, liability and legal protection insurance.

This planned diversification of offerings could have far-reaching impacts on the market, consumers and the industry as a whole. The introduction of new insurance products by Swisscom could intensify competition in the insurance industry and put traditional insurance companies under pressure. It could also lead to conflicts of interest and unfair competition, as state-owned companies often have access to resources and information that private companies do not.

Expanding Swisscom's offering could also offer opportunities by presenting consumers with simple and digital insurance solutions. This could help increase consumer trust in government services and create innovative business models for telecommunications companies.

Overall, the planned introduction of insurance products by Swisscom raises important questions that could significantly influence the future development of the insurance market in Switzerland.