GIAB facilitates recirculation of damaged products from the insurance industry through their initiative “Circular Insurance”.
GIAB (Godsinlösen Nordic AB) is a Swedish company facilitating repair, refurbishment and resale of damaged products from especially the insurance and e-commerce sector. With their circular business model, GIAB gives new life to products that are usually considered to be waste, which is beneficial both from an economic and environmental perspective. GIAB’s business model derives from the principles of circular economy and operates in varied setups. One of GIAB’s biggest focuses is the collaboration with insurance companies. Here GIAB takes care of the collection of products and verification of the damage for the insurance company and finds the best solution for product life extension (92% of the products received have their life extended). GIAB’s circular solution means that the product goes through repair, reuse of spare parts, or refurbishment. This is then followed by reselling the product through their online platform “Returhuset.se” or physical store in Staffanstorp. Products, which cannot have their life extended, are responsibly recycled. GIAB have similar collaborations with other sectors such as e-commerce, retail and logistics.
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