Instawars Launches Guarantee Program for the Three Major Interior Risks

With a growing number of cases in which consumers suffer damages after commissioning interior remodeling work, the interior O2O platform Instawars announced that it will launch a “Three Major Risks Guarantee Program.”

The company has defined the most common types of damage in interior remodeling—contractors absconding with payments, swapping out materials, and failure to provide after-sales service—as the three major interior risks, and it plans to focus its guarantees on these areas.

When a customer signs a contract with an interior contractor, Instawars establishes a “three-party contract” among Instawars, the contractor, and the customer.

Rather than merely providing a brokerage service, Instawars, the customer, and the contractor draw up a notarized, publicly disclosed contract, under which Instawars assumes responsibility for cases of customer damage that fall under the “three major risks.”

For example, if defect repairs are required due to poor workmanship and the original interior contractor fails to carry them out, Instawars covers the cost and arranges for the repairs to be completed through another contractor. Instawars stated that guaranteeing just the “three major risks” would cover 80% of interior remodeling incidents.

CEO Hwang In-cheol said, “The interior remodeling market is a ‘black-box market’ characterized by supplier-centered information asymmetry,” adding, “Through Instawars’ ‘Three Major Risks Guarantee Program,’ we aim to grow into a specialized interior O2O platform that consumers can trust and rely on from start to finish.”

Meanwhile, Instawars is a specialized interior O2O platform that provides services ranging from search and consultation to contracting, allowing users to handle all aspects of interior remodeling on PC and mobile.

Using a big-data-driven search engine, consumers can search for their desired interior design images among roughly 60,000 actual construction cases and receive multiple-quote services through one-on-one consultations.

By becoming the first in the industry to launch a “Three Major Risks Guarantee Program” covering major types of interior remodeling damage such as “contractors absconding with payments, swapping out materials, and failure to provide after-sales service,” the company is earning consumers’ trust.