GEEKVAPE Signs Strategic Cooperation Framework Agreement with PICC, with Coverage of up to 1 Billion Yuan

PR Newswire

SHENZHEN, China, Nov. 30, 2021 /PRNewswire/ -- On November 17, GEEKVAPE, a world-leading vape brands, and People's Insurance Company of China (PICC), a Fortune Global 500 company, announced an International Warranty Service (IWS) strategic cooperation, whereby the two parties signed a product safety liability insurance policy with a coverage of up to 1 billion yuan (approx. US$160 million). The partnership further highlighted GEEKVAPE's commitment to protecting the rights and interests of consumers as a consumer electronics brand.

Product quality is fundamental to a company's survival, growth and success. For GEEKVAPE, product quality in particular is an inherent requirement of the company. GEEKVAPE and its Geek series products have passed the CE, RoHS, EU TPD, KC and TUV Rheinland certifications. From research and development to production, GEEKVAPE implements strict inspection and quality controls, while, for sales and after-sales, the company has always been and will remain committed to providing consumers with quality services backed by warranties, enabling consumers to buy their products with confidence and use them at ease. Such a strict requirement for product quality allows the brand to ensure a +99.6% yield rate even though its annual shipments surpass 60 million.

The International Warranty Service which is the result of the strategic cooperation with PICC is an additional protection and commitment provided by GEEKVAPE to consumers.

PICC, a household name in China's insurance sector, was the insurance partner of the Beijing 2008 Olympic Games and the Shanghai 2010 World Expo. The insurer has strict requirements for the qualifications of insurance applicants. After a comprehensive investigation and evaluation of GEEKVAPE's product quality, brand awareness, overall robustness, credit rating and market feedback, PICC selected GEEKVPAE as its partner. This decision also reflects PICC's trust in GEEKVAPE's product quality and safety.

This cooperation includes the whole line of GEEKVAPE products and its sub-brand GEEKBAR. Becoming the International Warranty Service strategic partner of PICC also demonstrates GEEKVAPE's commitment to providing a higher level of product safety to consumers worldwide, highlighting not only GEEKVAPE's respect for and sense of responsibility towards users, but also its willingness to shoulder its social responsibility as an international technology brand, and to continue leading the industry in service upgrades in the field of vapor.