Did you know that you can offer your customers smartphone coverage through our company?
AmTrust Mobile Solutions is a suite of mobile device protection and support services that provide your consumers with the protection that they need. Economic and hassle-free, this coverage allows for the repair or replacement of damaged or lost mobile devices quickly and efficiently with one of two options:
- If the damaged device is repairable, your consumers may have access to an authorized local service center for repairs while they wait.
- If an authorized local service center is not available, we will send a replacement unit, on an expedited basis, from our state-of the-art fulfillment center following claim submission.
Easy Claims Processing
AmTrust Mobile Solutions’ domestically located claims center is staffed with specialists who provide prompt and professional assistance. Available seven days a week, the claims center can also be accessed online. Our family of industry-leading customer support service centers has processed more than $1 billion in claims and is accredited by the Better Business Bureau.
AmTrust Mobile Solutions appreciates that point-of-sale materials are critical in promoting and disclosing the various aspects of a program. That’s why we offer a marketing staff to design private label marketing materials or provide you with our own branded promotional items. Plus, we maintain strict adherence to each client’s branding requirements and possess an in-depth understanding of the legal and compliance issues associated with insurance product marketing.
A Dependable Business Partner
Working with AmTrust Mobile Solutions is easy. Whether your business is big or small, we can offer a carrier-grade program to suit your unique needs and exceed your customers’ expectations. From initial on-boarding to ongoing customer service, we can deliver customized mobile device protection solutions, provide complete administrative support and tailor the program to your financial requirements.
For more details about Warrantech feel free to visit: https://warrantech.com/blog/february-2018/amtrust-mobile-solutions-%E2%80%93-covered-connected-con/
Purchasing a vehicle service contract can be a confusing and intimidating process. There’s a lot to consider and, in some cases, a lot of money involved. That’s why we’re here to help take the guesswork out of the decision-making process and make sure you get exactly what you’re looking for. It’s easy. All you have to do is remember the three C’s of service contracts – cost, coverage and commitment.
First, you’ll want to determine if the car is worth the added investment. Do you plan on putting a lot of miles on it? Does the particular make and model have a history of needing frequent repairs?
You’ll also want to keep in mind that just because a plan is cheaper, that doesn’t mean that it’s better. In some cases, a company might sell you a less expensive plan that doesn’t provide the same level of coverage. Look for a good service contract that can offer you exceptional long-term savings and value. A few things to consider in association with the cost of your plan include:
• 24-hour technical assistance and access to qualified service professionals
• Value-added extras such as discounts on hotels and restaurants, rental car benefits, locksmith services and 24-hour roadside assistance
• Paying in advance could save you money later at the time of service
• In some cases, a service plan can pay for itself in just one repair
Next, consider the vehicle type and the best type of coverage for it. For instance, if you have a vehicle that you intend to keep for long time, you’ll want a plan that takes high mileage into account. At the opposite end of that spectrum, if you simply want to protect your vehicle’s appearance, a supplementary protection plan is probably in your best interest. Warrantech has several options you can choose from that encompass a wide variety of services:
• CustomEdge Plus – Provides you with the flexibility to pick your plan, length of coverage, miles of coverage and deductible
• RepairMaster Service Drive – Complete coverage for cars, trucks and SUVs
• MileEdge – Perfect for unpredictable, high-mileage vehicles, this plan covers costs associated with an automobile breakdown
• SecureEdge – Covers costs to repair or replace any breakdown of parts, except engine, turbocharger/supercharger, transmission, transfer case and drive axle components
• OwnerEdge – Offers powertrain vehicle protection
• PowerEdge – For motorcycles, scooters, ATVs, snowmobiles and other recreational vehicles
• CampersEdge – For motorhomes, travel trailers, fifth wheels, pop-ups and slide-ins
Finally, keep in mind that as the owner of the service contract, you are responsible for fulfilling the terms and conditions outlined within. As such, you’ll want to:
• Read the contract paperwork carefully and make sure you understand the coverages and exclusions
• Follow all the manufacturer’s recommendations for routine maintenance. Failure to comply with these requirements could void the contract
• Register your plan online if the provider has a website page that allows you to do so
• Keep your contract paperwork, receipts, maintenance reports and contact numbers in a safe place where you can easily access them. This will make ownership and claim submission simple and easy
To learn more about our vehicle service contracts, visit warrantech.com
One of the core strengths of AmTrust (Warrantech’s parent company), and a major reason why AmTrust was recently ranked as one of Fortune’s 100 Fastest Growing Companies, is the scalability of the our infrastructure. Rapid expansion capability is a hallmark of AmTrust and woven into the fabric of the company. Over the past 10 years, AmTrust has successfully integrated more than 2,700 new client programs and completed over 40 acquisitions.
Proficient Project Management
A skilled team of project managers effectively facilitates the integration process using proven methods to implement new programs and meld new companies into the Warrantech ecosystem. Each transaction poses unique program integration challenges, but our project managers collaborate with the various business teams to accomplish the desired results.
Warrantech maintains facility space and IT resources solely for new programs and implementations. We have the ability to add significant resources to facilitate your business and can do so in a rapid manner.
Warrantech is adept at quickly amassing its workforce to accommodate new programs. Our Dallas, Texas location affords us access to a dynamic and highly trained workforce. Coupled with robust systems and training programs, Warrantech ensures rapid deployment of new, skilled personnel.
Multiple Product Options
Warrantech maintains “off-the-shelf” products and programs for speed to market, but is equally adept at customizing programs specifically to meet each client’s needs. We are also able to work with each partner’s existing products, if desired.
Customer Service & Claims Adjudication
Warrantech firmly believes that service excellence is the cornerstone of any successful extended service contract program. The service standards and customer experience are mutually established with each of our clients during the implementation phase so that our service team can act as an extension of our clients.
Finance & Accounting
Warrantech has a sophisticated accounting structure and employs very experienced financial professionals. The organization uses the Oracle General Ledger System, which provides tools for effective management control and real-time visibility to financial results. Our accounting and financial statements are audited by the accounting firm of BDO USA, LLP. Relevant parent company financial information is filed as required with the Securities and Exchange Commission. Our program-specific reporting capabilities enhance the overall management and administration of a program by using standard, custom and ad hoc reports to drive strong decision making and provide full transparency. We are compliant with Sarbanes-Oxley and PCI and maintain our SSAE16 certification.
Warrantech employs a full-time, dedicated service contract marketing team. We also leverage third-party expertise to ensure that we are constantly providing robust marketing materials and strategies for our clients. This team is well versed in coordinating with the internal departments of our clients to ensure that all marketing requirements and brand standards are maintained.
Missed Point of Sale/Renewal Marketing
We employ a direct marketing team to capture opportunities that were missed at the point of sale by targeting prospects through personalized mail, Internet and/or telemarketing campaigns—all designed in conjunction with our partners. This team also manages our renewal program, which offers customers extended coverage and flexible payment terms, while providing additional revenue and brand loyalty to our partners.
Training & Field Services
Depending on each client’s needs, our training staff has the ability to build a custom field support program focused on:
• Internal program training: to ensure all of the Warrantech individuals assigned to this program have a full understanding and expertise with your culture and philosophy, the products and systems, sales and marketing approach, and customer experience standards. This training would be required before any individual would be permitted to touch any part of your program.
• Retail store and management training: to provide customized training, best practices, information on the products and systems, and general sales development.
Visit warrantech.com or give us a call at 800.833.8801 to learn more about how we can best support your business.
It’s important to partner with a company that’s well-versed in your line of work. After all, every industry has a unique set of risks and differentiators. And if you’re a small business owner, having access to someone who is receptive to the specific, yet ever-changing needs of your business can make all the difference.
AmTrust, Warrantech’s parent company, places a deliberate focus on delivering quality programs and services to businesses in underserved niche markets. With a staff of business developers, underwriters and account managers who are experienced, dedicated and client-focused, they strive to develop strong partnerships to ensure that your business plans are expertly executed, fully licensed and well-designed for your particular industry.
Small Commercial Business
Specifically targeting small businesses, AmTrust has crafted its commercial package insurance offering to provide coverage for niche audiences such as: lumber, restaurants, automotive service centers, financial institutions, inland marine, commercial agriculture and much more.
By combining leading technology, proprietary online business submission software and a deep understanding of each market, AmTrust reduces risk, produces efficiencies and provides effective loss control for its clients. AmTrust services small businesses with the same concern and attention to detail expected by large businesses, treating policyholders with the individual attention that they deserve.
At its core, the program business provides risk funding arrangements to a small group of targeted program business clients dedicated to the long-term proposition of shared risk and shared rewards. The risks to which these policyholders are exposed require in-depth knowledge of the industry segments in which they operate. Underwriting often entails customized coverage, loss control and claims services, as well as risk-sharing mechanisms. Underwriting expertise is the core competency of this specialized business unit.
AmTrust partners with MGAs and claims administrators to originate and manage this book of business. They target sophisticated small- and middle-market businesses, such as retail and wholesale operations, service operations and non-profit organizations. The coverages offered consist primarily of workers’ compensations, general liability, commercial auto liability and property insurance.
Specialty Risk and Extended Warranty
Warrantech’s extended warranty coverage focuses on automotive and consumer product clients, offering accidental damage, mechanical breakdown and related risks, while AmTrust’s specialty risk coverage targets the categories of consumer and commercial goods, auto, involuntary employment and travel/purchase benefits.
By serving as both underwriter and third-party administrator of our warranty programs, including our own full-service, state-of-the-art call center, we are uniquely positioned to simplify purchasing and help protect the integrity of our clients’ brands.
Contemplating a vehicle service contract, but unsure of how it works or how it differs from an automotive warranty? You’re not alone. A lot of consumers tend to get the two mixed up or fail to understand just what they cover. But seeing as how your vehicle is usually the second most important purchase you will make right after your home, it is in your best interest to do your homework and make sure that you are protected.
What exactly is a vehicle service contract?
It is an agreement to cover costs associated with repairs or services made to your vehicle. A manufacturer’s warranty, on the other hand, is a promise from the manufacturer to stand by their workmanship for a limited time after you purchase the vehicle. Once this warranty expires, a vehicle service contract becomes valid and provides you with much-needed coverage on your vehicle’s most important systems and components.
Is a vehicle service contract right for you?
Here are a few things to consider:
• Keep in mind that the average hourly rate for a mechanic is $100 an hour. A vehicle service contract can help do away with this cost, save you money and keep you from paying any unforeseen and unexpected repair bills.
• If you plan on owning your car for an extended period, it’s definitely in your best interest. A vehicle service contract can keep your car running at its very best and on the road for a long time.
• Even if you don’t intend to keep your car for long, a service contract can increase your vehicle’s resale value once you decide to sell. But before you do, make sure that the service contract you’re purchasing is transferable.
• Do some research into the make and model of the vehicle you plan on purchasing. Is it likely to need repairs and, if so, what are the costs? Weigh this against the price of the service contract to determine if it is worth it to you.
• Does the contract include extras such as discounts on hotels and restaurants, rental car benefits, locksmith services and 24-hour roadside assistance? Not only do these add to the value of the service contract, they can provide you with added peace of mind in the event that something goes wrong while you’re on the road and away from home.
• Take your driving habits into account. Will you be on the road a lot? Is there a lot of stop-and-go traffic? What are the road conditions like? Do you park outside where the weather is extreme? These can all have an adverse effect on your vehicle.
• Check the terms and conditions carefully. Make sure you know exactly what you’re getting and what is covered specifically.
• In addition to the type of coverage, be mindful of the length of coverage, miles of coverage and deductible.
• Research the company providing the service contract. Are they reputable? Some guidelines to help determine this might include checking their Better Business Bureau rating to see how they work with consumers and finding out what their A.M. Best rating is to verify financial strength and stability.
Have questions about a specific vehicle service contract?
Don’t hesitate to ask your salesperson or agent for more information. Most dealerships typically provide you with a brochure or direct you to a website so you can review the plan in its entirety. Take time to make sure that you fully understand the scope of the service contract and don’t get pressured into purchasing something that makes you feel uncomfortable. With so many options currently available, you are sure to find something that is satisfactory for your budget and your vehicle’s specific requirements.
The eighth annual Extended Warranty & Service Contract Innovations Conference opens September 13 at the Renaissance Hotel in Nashville. Several hundred professionals from the extended warranty and service contract industry are headed to Nashville to talk about how changes in technology and regulations will impact their businesses in the years ahead.
On Thursday morning, Sean Stapleton, the President and CEO of AMT Warranty, will join with Kenneth J. Mac, the Director of Chevrolet-Buick-GMC-Cadillac Protection at General Motors Co., to deliver a presentation on “Successful Partnerships in the OEM F&I Space.”
GM spun off its vehicle service contract, insurance, and finance business years ago into what is now known as Ally Financial Inc., but which used to be known as the General Motors Acceptance Corp. (GMAC). Then, of course, the great recession hit, and both GM and GMAC went through bankruptcy reorganizations. Afterwards, GM decided to re-enter the VSC business under its own name, and Mac’s Customer Care & Aftersales unit decided to do it in partnership with an outside insurance underwriter.
Stapleton said AMT won the bidding after an extensive vetting process. “The relationship with GM has been truly phenomenal,” he said. “We’ve been in business for many years now.” He said they started working together in 2014, after AMT Warranty won the bid in late 2013.
“The program has grown tremendously since then,” he said. “And it continues to grow. So I’m really proud of what AMT Warranty and GM have put together.” Their joint presentation in Nashville will explain how the relationship works, how they strive for continual improvement and innovation together, and what advice they can offer to others looking to create similar partnerships for their service contract programs.
“It’s a unique partnership in so many ways,” Stapleton said. “This isn’t a vendor relationship with them. We’re not order-takers. It’s very collaborative. We meet every Monday. We have our quarterly calls. We have update calls. We’re living and breathing and looking at the same things.”
Stapleton said he and Mac will outline some of the best practices that seem to work for them in their partnership, while acknowledging that things may be different for other partnerships. First, he said, the partners employ what he called “fear-free communications” between the two teams.
“We empower our teams to build these relationships amongst themselves,” he said. “They fight for each other. It’s almost like one organization. It doesn’t feel like finger-pointing. It feels like we win or lose together.”
The teams also are encouraged to ask a lot of questions, particularly around reasons why they’re doing something a particular way. “Some of those things are hard to discuss, whether it’s personal or professional, but we have that openness. And it’s been really beneficial.”
Stapleton said the partners started out in 2014 with just a handful of auto dealers selling their vehicle service contracts (most were still loyal to GMAC/Ally). Ally still had rights to the GM name. So the partners decided to sell Buick, Cadillac, and Chevrolet-branded VSCs, and gradually some of those dealers decided to come aboard.
“It was a huge challenge,” Stapleton said. “But it was also a pretty exciting time — to know that we were doing things differently, to do things that were intended to drive retention and loyalty. That’s one of the biggest differentiators I think that the program has.”
They also offered disappearing deductibles, and introduced a “white glove” level of service within the dealerships to boost loyalty and turn what could be a real negative (getting a defect repaired) into a real positive (cementing the relationship with a phenomenal experience).
“Issues create long-term relationships with these customers,” he said. “Their alternator may have blown. And that stinks. But they had a great experience. They were put into a loaner car. And there’s a disappearing deductible, so there’s no money out of pocket. It makes it a whole lot easier, and it builds that level of trust. Challenges can actually result in longer-term relationships with customers.”
GM could have done it alone, essentially remanufacturing GMAC all over again. But instead it decided to work with AMT. Stapleton said this allows the partners to share data about both the products and the risks, with each bringing their expertise to the table.
“We support other large OEM programs,” he said. “So we know what’s been successful, and we know what’s been a failure.” And it helps the partners to properly price the service contracts sold for not only for new GM vehicles, but also the used vehicles that dealers have on their lots. “We have a depth and breadth of understanding of this space that’s hard to compete with, because this is our core.”