The Warrantech Consumer Product Group – Your Perfect Partner

By: Jeff Hatch

January 08, 2019

At Warrantech, we look at each service assignment as a unique opportunity that requires an equally unique ability to provide the ideal solution for each client. That’s why Warrantech’s Consumer Products Group is always the perfect partner.
 
Raising Industry Standards Through Better Products And Services
Warrantech’s Consumer Products Group arranges for the underwriting and provides administration of extended service plans (ESPs) on a variety of consumer products, such as:

• Appliances
• Consumer electronics
• Lawn and garden equipment
• Fitness equipment
• Power tools
• Computers, peripherals and accessories
• Jewelry
• Optics and eyewear
• Furniture

Sold through retailers, manufacturers and distributors, these customizable plans address the unique preferences and needs of the individual client. Our ESPs offer the highest level of product protection – beyond the original OEM warranty: replacement, repair and accidental damage from handling (ADH) plans, custom plans, and turnkey plans like our product RepairMaster; Warrantech has a program that will work for you.

We offer comprehensive features that our retailers’ customers are looking for, like:

• Multiple coverage levels
• Upgrades like ADH and express service
• 24/7/365 customer support
• No lemon guarantee
• 100% parts & labor
• No out-of-pocket expenses or deductibles
• Transferable and renewable plans
 
Working For You 24/7
Service after the sale is where our value is most evident – our service doesn’t end once we develop your warranty program. Our service is defined by account management and our call center administration. From our accessible customer service representatives to customized marketing materials and engaging sales training, we know you will see the benefit in Warrantech’s complete customer service offerings.


Want to know more about our consumer product plans? Visit warrantech.com, call 800.833.8801 or send us an email at info@warrantech.com. We’re happy to help!

Filed Under: consumer, plans, products, RepairMaster, service, Warrantech

What Do Service Providers Say About Extended Service Plans?

By: Jeff Hatch

June 01, 2018

Regular maintenance can help keep your appliances running at their very best. But it’s just part of the equation. What do you do when the inevitable happens and the refrigerator or HVAC system that you depend on every day eventually breaks down? As a backup plan, numerous service technicians suggest that you look into an extended service plan (ESP) as a way of saving time and money on repairs – and making sure that your home appliances not only run right, but last.
 
So when is an ESP worth it? It depends on how much your products cost and what their value is to you. A good rule of thumb that a lot of service providers abide by is that an extended service plan is definitely worth the money if you’re purchasing an appliance that costs more than $500.
 
For higher-end items it makes the most sense. You should view these purchases not as products, but as investments that you plan on protecting to the best of your ability.
 
Another consideration is the manufacturer’s warranty. You might already be covered, but for how long? Most OEM warranties last anywhere from three months to a year when the appliance is still new. However, a service plan extends your coverage by offering additional protection when your item is older and you’re more likely to need it.
 
That brings us to product reliability. Several of our service providers have pointed out the intricacies of today’s appliances, which rely more on computer boards and electronics, and are built differently than they were some 20 to 25 years ago. The need for extended service plans weren’t as great then, but when you consider that today’s parts can run as high as $300 an ESP makes a lot more sense.
 
Also keep in mind that the average repair for a washing machine can run anywhere from $150 to $500 and eat through your budget pretty quick. For an oven/range, it’s even worse and could end up costing you between $400 and $700.
 
A service plan is designed to protect you from absorbing those high repair costs. And most repairmen will tell you that one service call alone can more than pay for the price of having an extended service plan, making an ESP worth it to you.  
 
Have questions about one of our extended service plans? Don’t hesitate to contact us. Visit warrantech.com, call 800.833.8801 or send us an email at
info@warrantech.com. We’re happy to help!

Filed Under: appliances, cost, maintenance, plans, repair, service, Warrantech

Customizable Plans, Turnkey Solutions

By: Jeff Hatch

March 19, 2018

Not all extended service plan programs are the same. And, likewise, not all companies have the same needs. For some businesses, that might mean a comprehensive suite of business tools, a replacement and repair program and accidental damage from handling protection. While others might require rollout training, ongoing sales support and help with their point-of-sale materials.

Customizable programs are Warrantech’s key specialty. Our modular “menu” solutions allow our clients to build a unique program based on specific goals. As the needs and capabilities of our partners change, our modular approach ensures the program adapts to the desired outcome, while maintaining the financial and/or administrative integrity of the program. By choosing from our full suite of services, partners leverage Warrantech’s core competencies to best serve their needs.

Administrator

World-class administration services for consumer product service contracts, vehicle service contracts, financial product programs and ancillary products.

Management of state/lender filings, dealer agreements, policy and procedure manuals, program compliance: including marketing materials review/approval. 

Ability to integrate seamlessly with partner systems. 

Obligor

Licensed obligor in all 50 states and Canada. Ability to serve in any capacity.

We can begin as the obligor, while the client secures the necessary licenses, and then transition the role as needed. 

Insurer

Offer CLPs and other direct insurance policies in all relevant jurisdictions that can accept risk for all programs. 

Support all First Dollar and Excess of Loss structures to provide flexibility and speed to market. 

All carriers are “A” rated by A.M. Best. 

Reinsurer

Fully able to support reinsurance models, ranging from a pure fronted transaction to various quota shares and excess of loss programs. 

Ability to create risk sharing captive structures for individual dealers, dealer groups and parent company (offshore and onshore options available). 

Internal financial department able to provide all the necessary cession statements to the captive in a clear, concise and easy to understand format. 

To learn more about Warrantech’s unparalleled service excellence, visit warrantech.com or call 800.833.8801.

Filed Under: customizable, extended, plans, service, solutions, turnkey

Warrantech Improves Customer Experience by Reducing Service Time for Warranty Programs and Extended Service Plans

By: Jeff Hatch

July 18, 2017

Partnership with ServicePower Streamlines Repair Operations by Using Innovative Technology to Connect Customers to Technicians Instantly

July 18, 2017 09:00 AM Eastern Daylight Time

BEDFORD, Texas--(BUSINESS WIRE)--Warrantech, a leading national provider of extended service plans (ESPs) and warranties, announces a unique new offering that will improve the customer experience by reducing the amount of time it takes to service products.

Through a partnership with mobile workforce management platform ServicePower, Warrantech will now instantly connect customers who have service needs with available repair technicians. By using technology to schedule service appointments in real-time, Warrantech will dramatically reduce the average time it takes for repairs to be made to customer products.

Warrantech, a subsidiary of AmTrust, provides innovative extended service plans, vehicle service contracts and warranty programs to retailers, dealers, distributors and manufacturers in numerous consumer and automotive markets.

ServicePower dispatches experienced third party contractors to repair product under contract through its contractor management solution, while improving warranty claim management through real time adjudication logic and collaborative business intelligence. Warrantech leverages improved visibility of each repair and real time data analysis to streamline and improve service operations.

“We are always looking to provide our large enterprise customers with an advantage in the competitive markets in which they operate,” said Ariel Gorelik, COO of Warrantech. “We believe this partnership with ServicePower will be positive for customers because it will make repairs quick and easy to schedule and we believe it’s positive for technicians because it eliminates the hassle of scheduling service times.”

“Warrantech operates in a complex industry serving many sectors and thousands of consumers,” said Marne Martin, CEO at ServicePower. “ServicePower prides itself on offering software solutions that minimize complexity, providing a real-time picture of field activities so that better-informed decisions can be made and executed to offer the best possible customer experience. That another project was delivered efficiently and on budget is further evidence to prospective customers that you can trust ServicePower to deliver.”

About Warrantech

Warrantech is a subsidiary of AmTrust, a Fortune 500, multinational property and casualty holding company that is rated "A" (Excellent) by A.M. Best Company for their financial strength and stability. An innovative, technology-driven company, AmTrust brings its financial strength to Warrantech, enabling it to offer a unique, bundled approach that includes both underwriting and administration. This creates transparency and visibility to information that enables customers to change and create plans that are both highly customized and profitable.

About ServicePower

For companies providing field based services, ServicePower offers a field service and mobile workforce management platform facilitating hybrid workforce management, enabling organizations to save money, improve customer satisfaction and drive new revenue by efficiently managing both captive and 3rd party service providers. ServicePower uniquely combines customer entitlement and real time communications, schedule and route optimization, work order, asset and inventory management, service and maintenance contract management, contractor management and dispatch, warranty and claims management, field mobility, and business intelligence of all field service interactions, in a single solution.

ServicePower also offers a fully managed network of 3rd party service providers to enable rapid and high-quality on-demand “spill-over” servicing at peak times and in hard-to-reach locations across North America and the Europe.

For more information, visit www.servicepower.com

Contacts

Warrantech
John Eddy, 212-319-3451, ext. 648
john@goldin.com

or

ServicePower
Jenniffer L. Breitenstein, 703-287-8900
hello@servicepower.com

Filed Under: extended, plans, service, ServicePower, Warrantech

One Size Does Not Fit All When It Comes To Your Business

By: Jeff Hatch

April 20, 2016

Selling your customers something straight off the shelf can be fast and convenient. But it can also mean that you’re running the risk of offering a run-of-the-mill product that wasn’t necessarily designed for them or for your business. The best way to differentiate yourself and drive business growth is to offer something that no one else has — something that everyone will want. 

In concert with your team, Warrantech can build a truly unique set of protection offerings for your customers that provide value and drive loyalty. Our mission is to provide our clients’ customers with the flexibility to purchase service contracts and obtain service on their terms and on their timelines, while reinforcing the long-term relationship between our clients and their customers. 

Warrantech offers a full-stop solution for the various aspects of a successful program and can also utilize a “menu-style” approach where you pick and choose what functions we would provide — at the outset of a program or during its life cycle. Moreover, Warrantech can tailor a program with benefits and terms that meet the unique needs of your customer base. Alternatively, or in parallel, we can leverage our existing programs to ensure speed-to-market for the program. 

Lastly, and unlike many competitors in the service contract administration industry, we are able to provide protection solutions beyond the standard extended service plan solution, including, but not limited to: 

Missed point-of-sale/renewal programs
Loyalty/membership programs
Concierge services 
Price/return guarantee programs
Monthly payment/subscription plans 
International coverage and service
Deductible and no-deductible options
OEM programs 
Value pack options (multiple products under one service plan)
Identity protection and fraud resolution
Employee benefit packages 

Warrantech offers unmatched flexibility, complete administrative support and a holistic approach to service contract programs. So whether you’re a retailer, dealer, distributor, or manufacturer in the consumer or automotive market, we have a customized solution that will work specifically for you.

To learn more, visit warrantech.com or give us a call at 800.833.8801.

Filed Under: customized, flexibility, plans, service, solutions, unique, warrantech

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