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

AmTrust Announces Strong Fourth Quarter Earnings for 2013

By: Global Administrator

February 13, 2014

AmTrust Financial Services (AFSI), the parent company of Warrantech, issued fourth quarter earnings this morning with strong financial results once again, both in top line revenue/premium growth (36.8%) as well as in bottom-line profitability. Most impressively, it is the third quarter in which the company has generated over $1 billion in gross written premium.

On a year-end basis, AFSI exceeded $4.1 billion in gross written premium and over $11 billion in total assets. Also, the company booked $331 million in service and fee income in 2013 — up almost 93%. That is a staggering number for non-insurance premium related business.

“Our strong fourth quarter and year-end results underscore the excellent momentum that AmTrust continues to experience across all our business lines,” said Barry Zyskind, AmTrust Financial’s Chief Executive Officer and President. “Going forward, we will continue to build AmTrust consistent with our priority to grow the value of the enterprise for the long term benefits of all our stakeholders.”

Fourth Quarter 2013 Financial Highlights

  • Gross written premium of $1.06 billion, up 36.8%, and net earned premium of $707.6 million, up 84.6% from the fourth quarter 2012
  • Operating diluted EPS of $1.03 compared to $0.70 in the fourth quarter 2012
  • Operating return on common equity of 25.1% and return on common equity of 19.9%
  • Service and fee income of $93.0 million, up 71.9% from the fourth quarter 2012
  • Operating earnings of $81.9 million compared to $53.4 million from the fourth quarter 2012
  • Net income attributable to common stockholders of $64.7 million compared to $55.3 million in the fourth quarter 2012
  • Diluted EPS of $0.82 compared with $0.72 in the fourth quarter 2012
  • Combined ratio of 89.9% compared to 90.5% in the fourth quarter 2012

Full Year 2013

  • Gross written premium of $4.12 billion, up 49.7%, and net earned premium of $2.27 billion, up 59.7% over 2012
  • Operating diluted EPS of $3.39 compared to $2.52 in 2012
  • Operating return on common equity of 21.3% and return on common equity of 23.1%
  • Service and fee income of $331.6 million, up 92.6% from 2012
  • Operating earnings of $264.6 million compared to $191.6 million in 2012
  • Net income attributable to common stockholders of $286.9 million compared to $178.0 million in 2012
  • Diluted EPS of $3.67 compared with $2.34 in 2012
  • Combined ratio of 90.5% compared to 90.1% in 2012
  • Book value per common share of $17.85, up from $15.48 at December 31, 2012
  • AmTrust's stockholders' equity was $1.45 billion as of December 31, 2013

To view AmTrust Financial Services’ full fourth quarter earnings release, visit the Investor Relations section at www.amtrustgroup.com or click on the following link: http://ir.amtrustgroup.com/releasedetail.cfm?ReleaseID=825497

Filed Under: AmTrust, Earnings, Financial, Fourth, Quarter, Services

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 Financial Services, 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