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

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 Financial Services, Inc., 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 Financial Services, 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.

Getting Your Staff On Board With Your CPO Program Begins With Asking Five Key Questions

So you’ve decided to enter the certified pre-owned business. Now how do you get your staff involved in order to make sure the project actually makes a difference to your bottom line?
Fact is, most programs started by dealerships turn out to be stop-and-start affairs. The initiatives work fine when they are new, but once the spotlight is off they fade away into the darkness.
There’s an old saying in golf that you can’t win a tournament on Thursday, but you can lose it that day. Another golf adage says on that first day you set yourself up for success on Sunday.
That’s how it is with any program started in a dealership.
The watchers and waiters predict the demise of the program and then watch it die because no one participated – specifically, them. Then they brag about how they knew this program would never work.
But an effort from everyone could have made the vision a reality. That’s why it is essential to get buy-in from everybody in the store at the beginning and reinforce that commitment throughout the entire process.
Everyone must understand the mission, because anyone who is not engaged can be the clog that causes the program to fail.
Getting buy-in starts way before opening day.
It is important in the acquisition of buy-in that essential people are made to feel like part of the initial decision-making process. The earlier they feel part of the process, the harder they will work to make the program a success.
That starts with a clear enunciation of the problem we are trying to solve. If there is no problem to solve, then why start a new endeavor?
Usually the problem is the need for more sales, more profit or a combination of both, which translates into the continued success of the store.
The different departments will look at new programs in a much different manner. But they all must be brought in, because unless they see a process that has benefits to them and their department, they will not be part of its success.
In the sales model of Harold C. Cash and W.J.E. Crissy, two college professors who wrote an often-cited work on sales psychology, the findings showed while it is important to have a proper introduction, the need awareness module is the most important part of the sale, because it opens the door to a solution.
Unless there is an awareness of the need for a product or service, the call to action – which is sales – will go unheeded.
Clearly laying out the need will help the department heads arrive at the conclusion you want them to.
The old car guys always defined sales as “giving the customer enough information to allow them to arrive at the conclusion you want them to.” Once they buy into that conclusion, they will be sold and it will become their program.
So how do you accomplish that?
As renowned leadership authority Stephen Covey said, you need to begin with the end in mind.
In a speech to the graduating class of the Harvard Graduate School of Education, dean James Ryan claimed that there were five essential questions that must be asked of any enterprise to find the motivation for long-term success.
The first of those questions is: Wait, what? That’s about slowing down the flow of information coming in and gaining clarity about the project.
The employee team must understand the idea before they can advocate for the program. Or, as Harvard sociology professor Rakesh Khurana said, “You must emphasize inquiry before there can be advocacy.”
The team may say they are behind a program to make the owner happy, but until they can think like the owner and understand how certified pre-owned can create a different outcome for the future of the business, there will be no dedication.
“Wait, what?” is the question that must be asked once you arrive at the conclusion that you need a certified pre-owned program to be competitive in the marketplace and create a long-term commitment with your customers. The reason is that a long-term commitment is what millennials are looking for when they buy cars.
So the answer to, “Wait, what?” is, “We are going to sell the same vehicles, purchased from the same locations – so there is no change in your vehicles – but with a guarantee from you that the customer is going to have a worry-free ownership experience. We establish that worry-free experience by providing a warranty on our vehicles, even the vehicles with 140,000 miles on them, if they pass inspection.”
What happens with your staff when you’re explaining your desire to change your relationship with your customers? They hear Charlie Brown’s teacher: “Wah-wah-wah-wah.” Then you hit on something important. Suddenly, it’s, “Wait, what?”
That’s right. This is how we are going to compete with new car franchises for customers and dominate the local competition – by giving our customers more and elevating our reputation in the community. In other words, we are going to unlevel the playing field.
As your salespeople settle back into reality, the next question is, “Who is going to pay for this relationship?”
Certainly, creating an environment that will allow customers to feel comfortable with the purchase of cars from your lot will create repeat business in the long run. But who pays in the short term is what salespeople fear the most.
The quick answer is, like everything in the car business, it is paid for by the customers. Salespeople sell from invoice – since the warranty cannot be charged for, certification becomes an invoice item.
More importantly, offering a warranty creates value in the upsell. Most of the dealerships in the NIADA Certified Pre-Owned program report upsell numbers of 65 percent or better.
“With 65 to 75 percent of the customers buying the upsell service contract, it isn’t hard to see how quickly this becomes a profit center,” said Natalie Suarez, national director of the NIADA program for administrator Warrantech. “Keep in mind that with NIADA if the customer buys the upsell, the dealer does not pay for the certification warranty.”
That means that with a concentration on selling extended service contracts, the customers pay for this program along with providing a new source of gross profit.
The service department’s concerns come from their fear of the unknown. Those guys know about programs that pay 80 percent or limit repair charges, making every repair a fight with customers and the claims department.
To get service buy-in, find a program that pays retail parts and labor.
Surveys show customers currently using the dealership’s repair facility will repeat their purchase with that dealer almost 65 percent of the time when they’re ready to purchase a different vehicle. If your certified program allows a disappearing deductible – which brings customers back to your facility – it has the dual benefit of creating more profit in service and selling more cars.
The “Wait, what?” answer for service is, “We are going to cover people for a longer time, giving them a better car-buying experience and creating at least two new profit opportunities.”
Getting your team together early and laying out the need awareness with “I wonder” starts a collective discussion that leads to the conclusion you desire.
For example: I wonder what would be the result if we developed a reputation for giving used car customers a new car experience. I wonder how we could accomplish that.
When the staff is involved all the way from “I wonder” to program inception, it is hard for them not to be engaged.
The next question in Ryan’s process is: “Couldn’t we at least…?” Couldn’t we at least look into a program? Couldn’t we at least lay out the parameters of what this would look like?
Once that is opened, you get past the original disagreements and dissenters and move on to mapping out a process, even if your staff is not entirely sure where you are going to finish with it.
Next is: How can I help?
John Kennedy stirred the country by saying, “Ask not what your country can do for you. Ask what you can do for your country. Not what America will do for you, but what together we can do.”
In this case, everybody needs to ask, “How can I help?”
It’s instinctive in humans to help out. There is a human function called the rule of psychological reciprocity, which means we treat others as they treat us. Asking the staff for help creates a desire for them to put an effort into the final decision. It gives them a feeling of importance and empowers them by recognizing their expertise.
The dealer asking how he or she can help and the staff asking themselves about their path to success and how can they play a vital part in it can lead those who buy-in to do extraordinary things to ensure the continued success and viability of the program.
The final question is, “What truly matters?”
“This is the question,” Ryan explained, “that gets to the heart of your own beliefs and convictions.”
Allowing the staff to participate in the certified pre-owned journey to its conclusion is the way to capture the future of your market – because CPO is the future of the used automobile market.
Your staff is likely to adopt the program as theirs and as imperative to their future. When your staff shares what truly matters and what is your heart’s desire, your ideologically synchronized management team becomes a powerful force in the market place.
So how do you set yourself up to win on Sunday by the way you play on Thursday?
First, get the right program – one that pays retail parts and labor, and has an unremitting drive for customer service as shown by Better Business Bureau and other monitoring agencies.
Quite simply, you have to have a program to compete with factory certification programs. The strength of the factory programs is name association with the manufacturer of the automobiles being purchased. That is tough to overcome.
But by using a nationally known entity backed by the same organization that operates the OEM’s programs, you can give your program credibility.
Once you have the right program, set your dealership up to succeed by assembling your key people – managers, finance, service, used vehicle buyers and the person who will be doing the certified vehicle inspections – and spending quality time together debating and analyzing the five questions: “Wait, what?,” “I wonder,” “Couldn’t we at least…?,” “How can I help?,” and, “What truly matters?”
When you arrive at the conclusion that the success of everyone and the dealership is tied to capturing the future, and the CPO program you’ve picked will help in accomplishing that goal, you’ll have developed a program that will continue paying dividends well into the future – and a team dedicated to keeping the process going.
For more details about Warrantech feel free to visit: https://warrantech.com/blog/july-2017/all-in/

Our Financial Strength Is Your Peace Of Mind

An extended service plan is a smart move. It confirms that you do indeed have a specific idea of how your products will be used and a reliable backup plan should anything go wrong. But in addition to giving time and thought to the type of coverage you’re interested in, it makes just as much sense to consider the company who will be backing your contract.
With more than 30 years of leadership in service contract administration, Warrantech is comprised of industry veterans who average more than 23 years of experience in program evaluation and design. This wellspring of knowledge provides us with vast insight and enables our team to uncover hidden growth opportunities and structure programs that offer a high-value proposition for our partners and their customers.
Warrantech is also a subsidiary of AmTrust Financial Services, Inc., one of the strongest, most financially secure insurance companies in the industry. With an unwavering focus on your success, we go out of our way to deliver unparalleled service excellence in all that we do.
• A.M. Best rating of “A” (Excellent)
• Named to the 2017 Fortune 500 list
• Ranked 63rd on Fortune Magazine’s Fastest Growing Companies
• Named “2014 Best-Managed Company (Insurance)” by Forbes magazine
• Recognized as the most “warranty-centric” company in the industry by Warranty Week
• Ranked 6th nationwide in National Association of Insurance Commissioners (NAIC) March 2014 workers’ comp market share report
• A+ rated and accredited by the Better Business Bureau
• Publicly traded (NASDAQ: AFSI)
• More than $23.9 billion in assets
• Multinational operations with offices worldwide
Having this financial strength allows us to bundle both underwriting and administration. And, as a result, it creates complete transparency and visibility to information that enables our customers to change and create plans that are both highly customized and profitable.
So whether you’re a customer, retailer, dealer, distributor, or manufacturer in the consumer or automotive market, Warrantech has a knowledgeable team that can provide a customized solution that will work specifically for you. And, just as important, offer you the financial stability to back it up so you can rest assured that you’re getting the best plan possible.

AmTrust Financial Services, Inc. Earns Distinction as Fortune 500 Company Following Record Year of Revenue

Achievement Recognizes AmTrust’s Long-Term Success

NEW YORK, June 07, 2017 (GLOBE NEWSWIRE) — Warrantech’s parent company, AmTrust Financial Services, Inc. (NASDAQ:AFSI) (the “Company” or “AmTrust”), today announced that the Company has been named to the prestigious Fortune 500 list for the first time. The list celebrates the largest companies in the U.S. by total revenue.

This achievement is a recognition of AmTrust’s financial strength and stability and follows a year of record revenue for the company. AmTrust’s total revenue in 2016 was $5.45 billion, an increase of 18% over the prior year.

Since its founding in 1998, AmTrust has grown into a multinational property and casualty insurer with nearly 8,000 employees in more than 125 offices serving 70 countries around the globe. In the U.S., AmTrust is one of the top three providers of workers’ compensation insurance and one of the top three warranty writers. AmTrust is also a top 13 Lloyd’s manager by capacity. As an innovative, technology-driven provider of insurance products, AmTrust has earned a prestigious “A” (excellent) rating from A.M. Best.

“AmTrust is honored to join the Fortune 500 alongside an elite group of successful companies, and we’re very grateful to our partners, brokers and agents for their trust in us as we reach this milestone,” said Barry Zyskind, Chairman and Chief Executive Officer of AmTrust. “AmTrust’s inclusion in the Fortune 500 is possible thanks to the hard work and dedication of our people, who live our core values of integrity, diversity, accountability, teamwork, community engagement, and a spirit of entrepreneurship. We adhere to these values every day allowing us to continue to successfully build a best-in-class property and casualty insurer for our valued partners and customers.”

AmTrust was ranked 475 on the 63rd annual Fortune 500 list.

About AmTrust Financial Services, Inc.
AmTrust Financial Services, Inc., a multinational insurance holding company headquartered in New York City, offers specialty property and casualty insurance products, including workers’ compensation, commercial automobile, general liability and extended service and warranty coverage through its primary insurance subsidiaries rated “A” (Excellent) by A.M. Best.

Spread The Word

To Succeed in the Lucrative CPO Market, You Need to Make a Commitment – and Make Sure Your Customers Know It

As many as 60 percent of all pre-owned customers are interested in seeing a certified vehicle, and the CPO market continues to grow – 2016 was the sixth consecutive year of record CPO sales.

Those statistics lead to an important question dealers should be asking themselves: “How can I get my share of that segment?”

It’s simple. Find a certified pre-owned program you like and start advertising.

When starting a certified pre-owned program, it is best to remember a saying I once read in a fortune cookie: “Who saw the antelope jump in the forest?”

That might sound silly, but it points out that while few of us will ever see an antelope jump in the forest, everyone can visualize it because they have read and seen pictures. No event can be widely known and accepted unless it is publicized with a message broadcast to the public.

That’s the message of that supposedly ancient Chinese proverb. If you want your program to succeed, you must be ready to broadcast your commitment loudly and constantly to everyone.

When deciding on a CPO program, the gains must be weighed against the costs. And the best way to achieve a positive in that equation is to make a full commitment to the program.

Your commitment needs to be accepted by everyone involved – your employees, customers and even the people you get your inventory from.

In order to broadcast that commitment, you must analyze why you are starting this project in the first place.

In the car business it is always about profit, which usually comes from selling more vehicles or making more on the ones that we sell. For dealers, that is the purpose of a certified pre-owned program.

The logical first step is to analyze what commitment you are making.

In some cases a dealer will be changing his market niche to a certified pre-owned inventory or elevating his inventory to more current models. Most dealers, though, will still be acquiring the same type of inventory, and will most certainly be getting it from the same places.

For them, the commitment isn’t to better cars or inventory. Rather, it’s to providing a better ownership experience for the customer.

CPO accomplishes that by backing what customers purchase in a manner that gives them the peace of mind that they did the right thing by buying the vehicle from the dealer that they purchased from.

That’s a long way of saying the commitment is just the right thing to do.

And if you are going to do the right thing, you might as well do it the right way. When looking at CPO, you need to have a program that follows three main criteria in governing the quality of the warranty.

First, you must have an administrator that has the capacity and desire to pay claims promptly. That is easily ascertained by looking at the administrator’s other customers. You’ll want to partner with someone who has partnered with the giants in your industry.

Second, the idea of CPO is to sell more cars and create more repeat business. That means the CPO program you commit to must have an unremitting drive to customer service.

Remember, the customers who interact with your claims administrator are going to be in what is for them a crisis situation. When it comes to encouraging repeat business, it’s here the difference in warranty companies is felt.

The third criterion is name recognition. Not simply because the name is recognized, but because the name is known or can be explained as synonymous with high ethics in the used car business.

Once you have found that, you’ll have something worth broadcasting.

When a dealer makes a commitment to any program, it is critical to the success of the program to broadcast it to the widest audience. The beginnings of success depend on how this project is presented to all parties.

Studies show that resolutions of any kind made in quiet are not as successful as those that are written, posted and told to as many people as possible.

Kevin Corley, owner of Second Chance Auto in Charleston, S.C., recently made the CPO commitment. He chose to use the NIADA Certified Pre-Owned program because it provided the necessary three criteria.

Since General Motors and Microsoft had done due diligence on the administrator, he felt he could trust it to pay claims. He found the principles NIADA was founded on mirrored his. And he saw the NIADA shield would be recognizable in his advertising media, helping to brand him as a certified pre-owned dealer.

Once Corley had made his commitment, he wanted to make sure that everyone knew what he now represented at his car lot.

“Kevin is so excited about representing this program,” said Mike Sims, an NIADA CPO program representative, “that we actually baked a cake.”

Corley demonstrated his commitment in a meeting with his entire company. In that meeting, he expressed his wish for the employees to embrace the program – and he capped the meeting with the aforementioned NIADA-themed cake.

He explained that when you start a program with a special event like the cake ceremony, the employees know it is different – and a very important.

Once he had announced the program to his people, Corley immediately wanted to get the word out to his clients. So he broadcast the announcement of his new program on his number one marketing tool, Facebook Live, from which he can broadcast his entire operation to the customers – from coming off the truck through make-ready to on the lot.

The result?

“We had 363 likes from broadcasting the cake ceremony in a matter of minutes,” said Corley. “The thing is, if they are watching on Facebook Live, they are in the market to buy a car, whether they know it or not.”

Second Chance Finance Manager Milan Edwards said the Facebook broadcasts make a big impact on consumers.

“By the time customers watch a car go through the inspection process – the cleanup process, even pulling the car off of the truck – on the Facebook Live broadcast, they are ready to belong to something special,” she said.

“Since the store has been involved with NIADA Certified Pre-Owned, we’ve sold 26 vehicles. Nine of those were CPO deals that would have gone somewhere else had we not notified our constituents of our commitment to this program.”

Donald Holt, Edwards’ associate in the finance department, pointed out that only one of those nine early CPO sales was hesitant to extend the warranty protection with an extended service contract.

“And her husband was a mechanic,” he said. “Once they know the program, it is not selling to get them to do the upsell. It’s just filling out the paper work.”

Making sure the public knows about your commitment to their vehicle purchase is important in driving customers from the Internet to your car lot.

Having vehicles marked as certified pre-owned on your dealership website is a good start. A deeper dive is using a CPO program that coordinates with websites such as Carfax or eBay. When you post your CPOs and they show up at the top of the selection criteria because of certification, it allows you to charge into the growing millennial CPO market.

Dealers can also broadcast their commitment to CPO by emphasizing the program in their lot decorations.

“NIADA Certified is actually a full marketing program that allows the dealer to maximize exposure to the public of his certified pre-owned program,” Sims said, including numerous marketing materials to dress the lot for the success of the program.

Corley’s business partner Derrick Middleton said the pole banners provided by the NIADA program “create an atmosphere or excitement and tell the customer we have cars that have been given special consideration.”

And that excitement, combined with a strong CPO program, can give independent dealers a boost in their competition with franchise dealers for market share, said Natalie Suarez, national director of the NIADA program for administrator Warrantech.

“Those dealers who fully commit to a program such as this find that the more they promote the certified pre-owned concept, the easier it is to compete with the local new vehicle franchises for certified buyers,” she said.

“When they are part of the NIADA program and use their online and on-lot methods of marketing their vehicle as certified, dealers see an increase in all traffic – phone, Internet, appointment and walk up.”

Dealers who have been successful in implementing programs such as NIADA’s say it is extremely important to get the information out to your potential customers before they are looking so they know they can find a certified pre-owned vehicle on your lot.

And, they say, it is equally important to continue to broadcast the program’s benefits once the customer is on the lot.

Auction Direct USA is one of the nation’s largest used vehicle operations, with stores in Rochester, N.Y., Raleigh, N.C., and Jacksonville, Fla. In 2016, its managing partner, Todd Hoagey, was named NIADA’s CPO Dealer of the Year.

Broadcasting its commitment to NIADA Certified Pre-Owned has been incorporated into the dealership’s sales system.

When customers arrive at Auction Direct they are met by a salesperson who “walks their wall.” The wall shows the story of the store, including how and why Auction Direct adopted its marketing system. And it all starts with the commitment the store makes to the customer through the CPO program.

“Starting the sales process with the certified pre-owned explanation is integral in establishing a trust between us and our customers,” Hoagey said. “It makes it clear up front that this store is special and the customer can feel safe with our process.”

One way to advertise the program is to dress the cars on the lot to identify them as having gone through the 125-point inspection required for NIADA certification. That can be accomplished with windshield banners that are visible from the street, as well as mirror hangtags that remind customers the vehicle has been through a special process and therefore is provided with coverage that most pre-owned vehicles don’t have.

So who saw the antelope jump in the forest?

Almost no one. But through broadcasting the beauty of the event, everyone knows about it.
When you broadcast in all of your media – Internet, newspaper and radio/TV ads, on your cars, in your sales process – you can get that all-important bump in sales.

“Once customers know about this program, why would they shop anywhere else?” Second Chance Auto’s Milan Edwards said.

The key is making sure your potential customers know about the program and your commitment to their ownership experience. That includes consistent messaging and using identifiable logos that flow throughout your advertising, allowing you to be successful by branding yourself as a dealer customers can count on.

For more details about Warrantech feel free to visit: https://warrantech.com/blog/may-2017/spread-the-word/

How To Beat The High Cost Of Appliance Repair

It’s inevitable. No matter how well your home appliances are built, at some point they will reach their life expectancy and stop working. So can you afford to be without yours for long? Do you have a backup plan in place? And, more importantly, do you have enough money saved up to cover the repair or replacement?

According to Home Advisor, the average cost to repair an appliance is $170. But prices can vary greatly once you include such variables as the make, model and age of your appliance, as well as parts, labor and applicable service fees. For more accurate pricing, you can visit Home Advisor’s site to search by location or use the figures listed below as a rough estimate of what you might expect to pay per appliance.

Average Repair Costs

Air Conditioner $200-400
Clothes Dryer $100-400
Dishwasher $100-200
Furnace $100-130
Microwave $75-150
Range/Oven $400-700
Refrigerator $200-400
Washing Machine $120-500
Water Heater $90-110

Now consider your own budget. If you have enough money set aside to cover all of the above, then you’re probably not too concerned. However, a recent survey by GoBankingRates showed that 69% of all Americans have less than $1,000 in savings. So if you fall in that category and suddenly find yourself without something as important as your refrigerator, the problem can go from bad to worse. There’s the added stress of having to spend your time being forced to go out to eat and the increased frustration of losing even more money due to food spoilage.

So how do you avoid this scenario? “While some maintain consumers should put aside cash for repairs and replacement of essential electronic products or appliances, it is not possible or practical in today’s economy,” says Timothy J. Meenan, Executive Director of the Service Contract Industry Council. “An extended warranty [service plan] can help consumers manage unanticipated, unbudgeted expenses.”

It’s worth noting that just one service call can more than make up the price of an extended service plan. That fact alone makes it worth owning one. But when you consider that an extended service plan also provides you with added peace of mind, immediate assistance and may even cover ancillary damage such as food loss, suddenly it becomes an invaluable, yet inexpensive plan to help you manage the welcomed inevitable.

Want to know more about the benefits of owning an extended service plan? Visit our site or call us at 800.833.8801.

For more details about Warrantech feel free to visit: https://warrantech.com/blog/april-2017/how-to-beat-the-high-cost-of-appliance-repair/

Dealerscope Warranty Roundup: 2017 Goals & Strategies

Sean Stapleton, president & CEO of Warrantech, recently spoke with Dealerscope magazine as part of a discussion on upcoming company initiatives. The following is an excerpt, providing a brief glimpse of what Warrantech has in store for 2017 to help businesses increase their extended service plan offerings and give customers the most value for their money and a worry-free shopping experience. 
Warrantech has developed a revolutionary new customer loyalty program for its partners that is designed to generate both recurring protection plan revenue and long-term customer retention.
The program allows retail partners to offer their customer base customized protection bundles for major appliances, mobile devices and connected living products owned by the customer, regardless of where the product was purchased. Partners have the ability to offer their customers monthly product protection subscriptions designed to enhance the customer’s experience with a full menu of features including 24/7 tech support and seamless repair/replacement solutions.
The program can be customized to provide disappearing deductibles for services or products provided to customers under the plans procured through the participating partners, thereby incentivizing customers to remain loyal to the partner retailer. Moreover, the rich data from the program can be monetized to help deliver targeted and personalized product offerings to customers based on their recent program usage.
Look for the full article in the March 2017 issue of Dealerscope or online at http://bit.ly/2mKB0iJ   
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