How Warrantech Differentiates Itself From The Competition To Help Your Business

Infrastructure Scalability
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.

Built-in Expandability
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.

Skilled Workforce
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.

Marketing Development
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.

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Want Niche Capabilities? You’ll Want A Unique Company

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.

Specialty Program
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.

Why You Need A Vehicle Service Contract

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.

For more details about Warrantech feel free to visit: https://www.linkedin.com/company/warrantech

Article Source: https://warrantech.com/blog/october-2017/why-you-need-a-vehicle-service-contract/

Sean Stapleton To Speak At Extended Warranty & Service Contract Innovations Conference

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.

Successful Partnerships

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.”

Fear-Free Communications

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.”

AmTrust Financial Services, Inc. Strengthens Senior Management Team with Appointment of Ariel Gorelik as SVP and Chief Information Officer

AmTrust Financial Services, Inc. Strengthens Senior Management Team with Appointment of Ariel Gorelik as SVP and Chief Information Officer

AmTrust veteran Christopher Longo continues as Chief Operating Officer

NEW YORK, Aug. 16, 2017 (GLOBE NEWSWIRE) — AmTrust Financial Services, Inc. (Nasdaq:AFSI) (the “Company” or “AmTrust”) today announced that Ariel Gorelik, an experienced global insurance industry executive and most recently Chief Operating Officer of AmTrust’s AMT Warranty division, has been appointed Senior Vice President and Chief Information Officer (CIO), reporting to Chairman and Chief Executive Officer Barry Zyskind. Mr. Gorelik succeeds Christopher Longo who continues as EVP and Chief Operating Officer, appointed in 2016, who has guided technology development at AmTrust as the Company’s CIO since 2006.

Mr. Gorelik will lead AmTrust’s global IT organization, with a focus on operational excellence across the IT function. He is responsible for ensuring that AmTrust will continue to lead through technology innovation and capitalizing on technology solutions to help enable AmTrust fulfill its business goals. Mr. Gorelik’s extensive operational leadership experience in the insurance sector includes expertise in centralization of operations and transformation of service delivery to improve customer satisfaction.

Mr. Gorelik joined AmTrust in 2014 as Senior Vice President AmTrust North America operations, and in January 2016 was promoted to Chief Operating Officer of AMT Warranty, one of the Company’s operating subsidiaries in the U.S. Prior to joining AmTrust, from 2013 to 2014, Mr. Gorelik was a managing consultant of the ICON division for Zurich North America, a property and casualty insurer. From 2010 to 2013, he served as deputy chief operating officer at SK Allianz/Allianz Group, a German property and casualty insurer. He was responsible for the procurement, real estate management, and transportation departments, as well as for areas of IT relating to Allianz’s core insurance system. He also led the organization’s full automation of the policy life cycle. Prior to his role as deputy COO, Mr. Gorelik served as head of Allianz Eurasia’s business services, where he established a shared service center with a number of back and middle office functions, including claims handling, P&C policy administration, payments, and call center.

“AmTrust has always led with technology and innovation, which have been a competitive differentiator for us,” said Barry Zyskind, Chairman and Chief Executive Officer. “Under Ariel Gorelik’s leadership as Chief Information Officer, we will continue to harness the power of our technology platforms and digital capabilities. Similarly, we now can maximize Chris Longo’s management focus as AmTrust’s Chief Operating Officer to enable us to undertake the initiatives and processes to optimize results across our business units and product and service offerings.”

Mr. Zyskind continued, “With more than 400 knowledge developers within our IT staff of 1,000 men and women supported by in-house underwriting, actuarial and claims processing experience, innovation is in our DNA. Chris has been instrumental in developing our technology platforms and building our IT organization into the powerhouse it is today. He led the development of a single proprietary platform that allows us to continually improve the experience of our agents and our customers. It also allows us to develop new products and integrate emerging technologies quickly. With our IT function well established, Ariel, as Chief Information Officer, can move us further forward, utilizing his abilities to increase efficiencies across broad organizations and platforms, while enhancing the experience of our brokers, agents, and policyholders.”

3 Keys to Customer Satisfaction: Speed, Efficiency, Knowledge

Customers want fast service or support from knowledgeable people where, when and how they prefer to receive it, based on results of a study the CMO Council published Tuesday.

Together with SAP Hybris, the CMO Council last year conducted an online survey of 2,000 respondents, equally divided between men and women. Fifty percent were in the United States, and 25 percent each resided in Canada and Europe.

Among the findings:

• 52 percent mentioned fast response time as a key attribute of an exceptional customer experience;
• 47 percent said knowledgeable staff, ready to assist whenever and wherever needed, was key;
• 38 percent wanted an actual person to speak with at any time and place;
• 38 percent wanted information when and where they needed it;
• 9 percent wanted brand-developed social communities; and
• 8 percent wanted always-on automated services.

Consumers have a shortlist of critical channels they expect to have access to, the survey found, including the company’s website, email, a phone number, and a knowledgeable person to speak with.

“The mindsets of consumers — whether B2B or B2C — are shifting, said Liz Miller, SVP of marketing at the CMO Council.

Marketers “have to start asking, ‘Are we set up to be a responsive organization that looks at data, looks at analytics, understands what’s coming in through CRM and is able to reflect that back through all touchpoints, including physical ones, quickly? Or are we simply waiting to react?'” she told CRM Buyer.

Serve Us Well or Die!

Angry customers hurt brands. The survey identified the following behaviors:

• 47 percent of respondents said they would stop doing business with a brand if they were continually frustrated;
• 33 percent were annoyed because of slow service or dealing with reps who knew nothing about their past history or purchases;
• 32 percent said they would email a company to complain; and
• 29 percent said they would tell their family and friends about their bad experience.

That’s a possibility that Warrantech, which provides extended service plans and warranties nationwide, is well aware of.

The company on Tuesday announced a partnership with mobile workforce management ServicePower, which will let it instantly connect customers who have service needs with available repair technicians.

“Prompt response time is critical in our line of business,” said Brian Weaver, director of service operations at Warrantech.

The teamup is expected to reduce overall customer turnover time by up to 10 percent across all verticals and “ultimately translate into commensurate lifts in clients’ sales and customer retention,” he told CRM Buyer.

The Customer Wish Conundrum

One problem marketers face is that customers appear to have conflicting desires, as shown by the survey results:

• 36 percent of respondents were angry about not being recognized for their loyalty;
• 12 percent wanted companies to recognize their history with the brand at any touchpoint;
• 10 percent wanted multiple touchpoints; and
• 23 percent felt they were being followed online.

That poses a conundrum for marketers.

“This survey did indicate the respondents wanted knowledgeable staff — and for that, I’d argue part of the knowledge is knowing about the customer, not just the product, so that the advice can directly address the customer’s unique problem,” said Rob Enderle, principal analyst at the Enderle Group.

“Knowing about the customer improves the quality of the engagement,” he told CRM Buyer.
That said, consumers don’t care how companies do what they do — they only care about the results, the CMO Council’s Miller noted.

“It’s a sausage factory. Consumers don’t care how you make them, they just want tasty sausage. At the end of the day, consumers want to be treated like persons,” she said.

“Each firm needs to survey their own customers, assess the impact and costs of changes, then formulate a strategy that applies uniquely to them,” Enderle suggested. “Some may find that the cost/benefit ratio is still better with automation.”

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.