It is very new to know that Luua electronic cigarettes recently developed by ISIP Global Atomization Research and Development Center, have been insured by insurance companies.
According to the information, the underwriting company is well known, Peoples Insurance Company of China. The insured amount is 2 million yuan.
It underwrites more than one product, but the flagship products of full Luua series. It includes Luua ONE, ONE carts and two disposable products: Luua mini and Luua star.
Specific coverage includes e-liquid, batteries and all the safeguards for Luua’s electronic cigarette consumption and use.
Therefore, Luualu is also known as the world’s first electronic cigarette brand insured by insurance companies.
According to the data, we know that the Luua electronic cigarette producer is Jia Wu Technology (Ltd.) Limited. Jia Wu Technology is a professional company engaged in electronic atomizer design, research and development and production established in May 2019.
As for the insurance of electronic cigarettes, Luua told, “We believe that the most important thing is the safety of electronic cigarettes, after all, it is food-grade products. Before the introduction of national standards, we should not only develop and produce Luua with the highest specifications of product quality, but also give our consumers care and protection.”
Luua denoted, “We are very confident in what we do. At present, we use food grade stainless steel device shell and shape medical plastics. Through structural optimization, Luua has carried out a dual leak-proof design to maximize the control of electronic cigarette industry common problem: e-liquid leakage.”
“In order to optimize the product experience of consumers, Luua vape product team precisely controls the consistency of products through special CNC technology, ensures the matching degree between carts and device, and avoids possible product defects. Luua’s e-liquid is also based on USP raw material standards.”
By insuring e-cigarettes, Luualu hopes that more and more e-cigarette brands will attach importance to the quality of products and truly care for users.
Luua’s founding team emphasized, “We’re not just talking about e-liquid leakage and burnts core, but also about health and safety. Maintaining the healthy and orderly development of the industry and enabling more consumers to truly benefit is the responsibility and obligation of enterprises.”
Luualu e-cigarette closed 10 million yuan Seed funding round
On September 30th, the new electronic cigarette brand Luua announced the completion of a ten million yuan seed financing co sponsored by Wu Shichun, a well-known angel investor and alumni of entrepreneurial dark horse laboratory. This round of funds will be mainly spent on brand building, product iteration and sales channel expansion.
Founded in May 2019, Luua electronic cigarette belongs to Jia Wu Technology, mainly engaged in the operation and sales of Luua electronic cigarette and intelligent vaporizers. Its main team members are from Huawei, Qu Headlines, Quick Hands and media people from traditional media.
Zhang Rui, founder of Luualu e-cigarette, told the media that lack of high-quality products and far from being satisfied with consumer demand are the biggest characteristics of developing the market. As the infrastructure market is not perfect, there is still a big gap between goods and services in the deep market. Excluding 4 first tier cities, 15 new front-line cities and 30 second tier cities, all other areas fall into the category of deep market. According to the statistics of the Ministry of Civil Affairs, there are 2851 administrative divisions at the county level. In terms of population, it will also reach nearly one billion people. Among the 350 million smokers in China, the number of smokers in the deep market alone is as high as 250 million, accounting for 71% of the total number of smokers. Its growth potential is huge.