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Jewelers of America Supplier Member BriteCo is an insurance technology company that provides a comprehensive, best-in-class online jewelry appraisal system and A+ rated jewelry coverage for retail jewelry customers. BriteCo’s free platform allows retail jewelers to save massive amounts of time lost in more traditional methods of paper-based appraisals while providing greater accuracy and consistency. This revolutionary system is absolutely free for retail jewelers to use, and appraisals can be performed online with BriteCo in just 5 minutes. 

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What inspired the creation of BriteCo?

BriteCo was born out of the frustrations that most independent jewelry store owners face when it comes to doing appraisals and dealing with insurance companies for replacement claims. Co-founder and CEO, Dustin Lemick, himself a third-generation family jeweler, grew frustrated with the inefficiencies of the traditional appraisal process. “You need an appraisal to get insurance, but otherwise these processes were completely disconnected. They were also outdated and tedious, and they wasted huge amounts of time,” Lemick explains.
Noting how other industries were benefiting from the adoption of cloud-based technology, Lemick began dreaming of ways this technology could help jewelers and their customers. “We live in this app-based, one-click-to-buy world, and retail customers’ expectations are rapidly changing,” says Lemick. After testing his hypotheses with other industry peers, Lemick knew it was time to take BriteCo to market.

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How does BriteCo work?

Technology can be daunting for some, but BriteCo is incredibly easy to use from any computer, tablet, or mobile device. With BriteCo’s proprietary Jewelry Appraisal System, jewelers can leverage hundreds of thousands of unique data points related to virtually any piece of jewelry on which they need to perform an appraisal. The BriteCo algorithm is incredibly robust, accounting for market accuracy in metal weight, stone type, size, grade, length and other innumerous factors instantly, taking the guesswork and wasted time out of the equation.

Once an appraisal is finalized in BriteCo, it’s emailed to the customer. At the same time, the customer receives an instant quote for A+ rated jewelry insurance coverage directly from BriteCo. While customers are not required to sign up for BriteCo jewelry insurance, BriteCo jewelry partners are compensated for every insurance application.

Get started today for free by clicking here.

What retail jewelry challenges does BriteCo answer?

BriteCo takes a process that jewelers traditionally spend up to an hour performing, and shrinks it down to about five minutes, making it more comprehensive, consistent and accurate. BriteCo saves so much time, appraisals can be performed in-store while the customer waits, and the jeweler’s time is freed up to focus on more important tasks around the store. Appraisals performed in BriteCo are securely stored online so that the jeweler can reference it later, eliminating clutter and headaches with recordkeeping.

When the appraisal is emailed to the customer, they also receive a separate email from BriteCo offering a quote for insurance coverage. Customers can get insured in a matter of minutes on their smartphone or mobile device, in some cases before they even leave the store.

In the event a customer makes an insurance claim, BriteCo handles everything from start to finish. Claims made with BriteCo benefit jewelers in two ways: First, the customer is sent back to their favorite jeweler (you) for the repair or replacement of their treasured item. Second, BriteCo pays the jeweler directly, eliminating insurance runarounds, hassles with preferred networks, and slow (or no) payments. Claims through BriteCo also benefit customers by enabling them to easily file a claim online with prompt, friendly support and follow up coordinating their repair or replacement with you, their jeweler.

Get started today for free by clicking here.

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What sets BriteCo apart?

BriteCo is distinguished by its ability to solve problems in the retail space for appraisals and for the uncompromising level of coverage for retail jewelry customers. BriteCo jewelry and watch insurance is ‘Replacement Only’ and covers customers for up to 125% of the appraised value for Loss, Damage, Theft, and Mysterious Disappearance.

When compared to a typical homeowner’s policy, which caps jewelry claims as low as $1,000, BriteCo outperforms for both jewelers and their customers. Compared to other online jewelry insurance providers, BriteCo comes out on top with more comprehensive coverage, and an easy, straightforward claims process that pays the jeweler directly for the work in around 7-10 business days.

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What questions do you get asked most by jewelers?

Since BriteCo pioneered the online jewelry appraisal and insurance space, retailers have wanted to learn more about how the BriteCo platform can be integrated into their everyday processes, as well as becoming confident in the insurance coverage being offered to their customers.

The question BriteCo faces most often from jewelers is, “How much does your appraisal system cost?” Unlike other platforms, BriteCo is absolutely free for retail jewelers to use without any exclusivity agreements or requirements to use BriteCo insurance.

Want to learn more? Get to know BriteCo here.
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