Warrantech’s Online Claims System Wins at the 2014 Stevie Awards for Sales & Customer Service

By: Global Administrator

February 24, 2014

LAS VEGAS, Nevada (Feb. 24, 2014) – Warrantech was presented with a Stevie® Award for Innovation in Customer Service during the eighth annual Stevie Awards for Sales & Customer ServiceSM. The awards were presented to honorees during a gala banquet on Friday, February 21, at the Bellagio in Las Vegas. More than 400 nominated customer service and sales executives from the U.S.A. and several other countries attended.

The Stevie Awards for Sales & Customer Service are the world’s top sales awards, contact center awards, and customer service awards. The Stevie Awards organizes several of the world’s leading business awards shows including the prestigious American Business AwardsSM and International Business AwardsSM.

More than 1,500 entries from organizations of all sizes and in virtually every industry were submitted to this year’s competition, an increase of 36% over 2013. Finalists were determined by the average scores of 129 professionals worldwide, acting as preliminary judges. Entries were considered in 43 categories for customer service and contact center achievements, including Contact Center of the Year, Award for Innovation in Customer Service, and Customer Service Department of the Year; 43 categories for sales and business development achievements, ranging from Senior Sales Executive of the Year to Sales Training or Coaching Program of the Year to Sales Department of the Year; and categories to recognize new products and services and solution providers.

More than 260 executives around the world participated in the judging process for the 2014 awards, to determine the Finalists and then the Gold, Silver and Bronze Stevie Award placements.

Warrantech was recognized for its comprehensive online customer service and claims adjudication/administration system. Allowing for ease of use, it provides customers with access to manage purchased contracts and submit claims online. Customers can also track the status of their repairs and obtain contact information for the service provider when necessary. This helps streamline and improve customer service levels by allowing automation of key processes within claims filing.

“Entries to the Stevie Awards for Sales & Customer Service awards have almost doubled over the past few years,” said Michael Gallagher, president and founder of the Stevie Awards. “Not only have we seen a dramatic increase in the number of entries; but the judges have also seen a remarkable rise in the quality of the nominations submitted overall. We congratulate all of this year’s Stevie winners for their outstanding work.”

Details about the Stevie Awards for Sales & Customer Service and the list of Stevie winners in all categories are available at www.StevieAwards.com/sales.

Filed Under: Awards, claims, customer, online, service, Stevie

Warrantech Hits 30

By: Jeff Hatch

February 02, 2014

BEDFORD, TEXAS – CE and majap service plan provider Warrantech recently celebrated its 30th anniversary.
 
Founded in 1983 as a dedicated service contract administrator, the company was acquired four years ago by Amtrust, a Fortune 100 fastest-growing company.
 
Warrantech said the acquisition provided it with a financial strength that allowed it to become “a respected industry leader through product innovation and an unparalleled dedication to service.”
 
Among its latest introductions is a dynamic program that’s designed to capture missed point-of-sales opportunities, increase penetration rates, and provide additional value to customers by enabling retailers to offer extended service contracts outside of the traditional store environment.
 
In other Warrantech news, Gabriella Roberts has been appointed account management senior VP. With more than 20 years of experience in the insurance and service contract industry, Roberts’ background includes positions in sales, underwriting and client management. Warrantech said she is “passionate about leading the teams responsible for supporting [our] valued clients and is focused on meeting their needs by providing growth strategies and exceptional service.”

This article by Alan Wolf originally appeared in the February 2014 edition of TWICE magazine and can be found online at: http://www.twice.com/news/news/warrantech-hits-30/43193

Filed Under: Fortune, growth, sales, service, TWICE, Warrantech

Top 10 Reasons to Maintain Your Vehicle

By: Global Administrator

January 03, 2014

A vehicle is one of the largest investments that most people will make, second only to buying a house. That is why it is so important for you to take care of your investment through regular maintenance. Plus, basic automotive care provides several other benefits that you might not have considered:

  1. Protects your investment (on average, auto owners keep their vehicle for 10 years).
  2. Provides your family with safer, more reliable means of transportation.
  3. Saves you money on any unforeseen, expensive repairs.
  4. Honors the commitment outlined in your OEM warranty.
  5. Keeps your vehicle running smoothly and more dependably.
  6. Contributes to better fuel economy.
  7. Eliminates unexpected breakdowns.
  8. Increases your vehicle’s resale value.
  9. Reduces harmful emissions, which can endanger your family and the environment.
  10. Gives you greater peace of mind, knowing that your vehicle is good to go.

Want to take the hassle out of maintaining your vehicle? Consider a vehicle service contract from Warrantech. http://www.warrantech.com/Products/Service-Contracts.aspx

Filed Under: contracts, service, Vehicle

Holiday Shopping Facts and Figures

By: Global Administrator

December 09, 2013

It’s the most wonderful time of the year. And it’s also the biggest for retailers. According to the National Retail Federation, nearly one-fifth of the retail industry’s annual sales come directly from November and December. This year, retailers are expected to bring in more than $602 billion.

To put into perspective just how big end-of-year sales are for business, keep in mind that retailers will take in more this holiday season than Valentine’s Day, Easter, Mother’s Day, St. Patrick’s Day, Father’s Day and Halloween combined. By comparison, the next biggest shopping event is back-to school season, which recently brought in an estimated $72.5 billion.

As a primer of what you can expect this year, here are a few more notable holiday numbers to take into consideration:

$2.9 billion
Amount retailers estimate that they lose due to return fraud during the holiday season

$602.1 billion
Projected holiday retail sales for 2013

2012 Holiday Retail Sales By Sector


 

Sales in Millions

Percentage of Annual Sales

Building and Garden Equipment and Supplies

$46,557

16%

Department Stores

$43,735

24%

Electronics and Appliance Stores

$23,135

23%

Furniture And Home Furnishing Stores

$18,496

19%

Jewelry Stores

$9,145

29%

3.9%
Expected increase in sales this year

3.3%
Average increase in holiday sales for the last 10 years

20% to 40%
Percentage that November and December sales contribute to a retailer’s annual sales

40%
Percentage of shoppers who begin their holiday shopping before Halloween each year

$752.24
Average amount that shoppers spent on holiday items (gifts, decorations, food and more) in 2012

15% to 13%
Expected increase in online holiday sales, estimated to bring in as much as $82 billion this year

Source: National Retail Federation. For more information, visit http://www.nrf.com

Filed Under: Holiday, retailers, sales, shopping

Vehicle Service Contracts Grow in Popularity

By: Global Administrator

November 21, 2013

More than ever before, car buyers are purchasing vehicle service contracts to help prepare for the unexpected and save money on expensive repairs.

The Service Contract Industry Council (SCIC) estimates that consumers bought more than 10 million vehicle service contracts in 2012 for both new and used vehicles. Those service contracts covered 95 percent of annual claims filed, including repairs necessary due to normal wear and tear, providing coverage above and beyond a traditional manufacturer’s warranty.

An increasingly popular choice due to the rise in car repair costs, the SCIC points out that vehicle service contracts offer value and predictability by protecting the vehicle well after the manufacturer’s warranty expires. A vehicle service contract also offers additional coverage that isn’t offered in the original equipment manufacturer’s warranty.

“The new technologies and complex components in today’s motor vehicles put consumers at greater risk for big out-of-pocket repair costs than ever before,” said Timothy Meenan, SCIC executive director. “Service contracts help consumers better deal with the unexpected, so they don’t have to worry when expensive unforeseen repairs are needed.”

The SCIC adds that today’s vehicles are made up of more than 10,000 components, yet the standard powertrain warranty covers only a fraction of them. The average new car has six to 20 computers that control everything from fuel injection and antilock brakes to airbag deployment. Those systems can be expensive to repair, due to both the high cost of parts and labor costs that can run as high as $250 an hour for specialized repairs on luxury vehicles.

For more consumer tips and information regarding extended warranties and vehicle service contracts, be sure to visit www.go-scic.com.

Additional Benefits of Having a Vehicle Service Contract

  • A vehicle service contract covers systems not typically included in the manufacturer’s powertrain warranty, such as air conditioning, heating, power windows, electronics and navigation
  • Most service plans pay for the cost of a rental car while your car is in the shop—standard manufacturer’s warranties do not
  • When selling a vehicle, service contracts can be transferred to a new owner, which increases its value
  • Access to certified auto technicians
  • 24/7 customer support and technical assistance

Filed Under: consumer, contract, service, tips, Vehicle

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