Tag Archive | "GWC"

GWC Warranty Surpasses $400 Million in Claims Paid

WILKES-BARRE, Penn. – GWC Warranty, the best-in-class provider of used vehicle service contracts and related finance and insurance products sold through automotive dealers, has successfully topped $400 million in claims paid to date.

GWC Warranty’s $400 million in claims paid, combined with sister-company EasyCare’s $3.1 billion, brings the APCO Holdings, Inc. claims paid total to more than $3.5 billion.

“Surpassing $400 million in claims paid is an important milestone for GWC and our dealers as well,” said Rob Glander, CEO and President of GWC Warranty.  “By partnering with an organization that has totaled more than $3.5 billion in claims paid, dealers who sell GWC service contracts can rest assured that we’ll stand behind it. And their customers can enjoy their vehicles knowing that if a breakdown occurs, GWC will be there to get them back on the road quickly.”

This new claims paid milestone is the latest accolade for GWC Warranty, which is a Motor Trend® Recommended Best Buy for Independent Dealers and rated A+ by the Better Business Bureau. Since 2015, GWC has been designated a Bronze Level National Corporate Partner of the NIADA. For the past two years, GWC has also been recognized in both SubPrime Auto Finance News’ SubPrime 125 and Auto Remarketing’s Power 300.

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An Interview with Mike Melby

Mike Melby wears his passion for the vehicle service contract segment on his sleeve. Read on to learn how Melby strives to fulfill his company’s mission to protect car buyers and be a true partner to agents and dealers.

Tell me a little bit about your company and its place in the industry.

Here at GWC, we view ourselves as the best-in-class vehicle service contract provider for used cars in the automotive industry. We’ve been in business for 20 years, paid over $350 million in claims and helped protect more than 1.5 million drivers during that time. We’re A+ rated by the BBB and all our products are backed by American Bankers Insurance Company, an Assurant Solutions company, which is rated A “Excellent” by AM Best.

I tell you all this because these numbers and accolades are the results of a simple mission to help dealers sell more cars by giving car shoppers the confidence to become car buyers. We firmly believe that, when a customer has a great experience with GWC, they improve the dealer’s CSI, generate strong referrals and become repeat buyers for dealers — all of which equates to added vehicle service contract business for agents. And while we do maintain an employee-based sales force, we remain respectful of the businesses our agents operate and have a history of safely and successfully coexisting in markets across the country.

How do we do it? Simply put, it’s the only thing we do. We’re not like some F&I product or warranty providers that dabble in several different industries with a wide array of products. At GWC, we specialize only in the service contract space and only on used vehicles. It’s a conscious decision to focus on this niche, and one that has benefited us and our dealer and agent partners greatly.

Specifically for our agents, it starts with personalized attention. I am hands-on with every one of our agents to make sure their needs are addressed in a timely and effective manner. It’s important to note, too, that we understand the needs of agents vary from business to business. We stay flexible to ensure we’re providing solutions tailored to each agent’s business.

Are there any recent or future developments within your company that you would like to tell us about?

In today’s marketplace, it’s all about service and technology. We’re constantly looking at ways to improve the way we work with agents, dealers and drivers to make sure we’re creating a best-in-class experience. In terms of service, we employ ASE-certified claims adjusters who have decades of experience in keeping drivers on the road.

When it comes to technology, the industry is quickly moving to more and more paperwork being done electronically. Because 60% of service contract business is now filed electronically, we are working with DMS providers all over the country to integrate our products onto their systems, and we’ve even created our own econtracting tool in the past year: the Dealer Portal.

We’ve been busy with even more technology offerings in 2015 too. We just introduced GWC Virtual Training — a free online, interactive training tool with content for every employee in a dealership — as well Covideo, which integrates video into a customized email template to help streamline walkarounds, lead conversion and post-sale follow-up. GWC is sharing the cost of Covideo with dealers and agents to offer an exclusive rate unavailable anywhere else.

How did you (personally) get started? What caused you to choose this career path?

I’ve known nothing but the auto industry throughout my entire career. I’ve spent almost 30 years in the automotive industry. I started at GMAC, working throughout the company in sales, credit and operations. After that, I moved on to AutoNation, where I was the director of F&I product development. Working for some of the biggest players in the automotive industry was the perfect way for me to blend my passion for business with what’s now a deeply rooted connection to the auto industry.

What are your outside interests / what do you like to do on your days off? What activities/sports are you passionate about?

I work a lot and travel often, but when I’m home, family is first. I try to spend as much time with my wife and kids as possible. Come wintertime, I enjoy lacing up the skates in a local ice hockey league. In the summer, I try to get on the golf course when I can fit in the time for 18 holes — which is far less often than when I lived in South Florida!

What are the biggest issues you see facing the industry today and in the future?

For VSC providers, it’s always a matter of protecting our reputation. Unfortunately, the VSC industry is an easy one to break into and a difficult one in which to sustain success. One thing we see contribute to this far too often is the mispricing of contracts. At GWC, we have 20 years of underwriting data to draw from so we know exactly how each make and model will perform, what will break down and when. This allows us to price the risk on each vehicle accordingly.

How does this benefit agents and their dealers? First of all, companies without such a history can sometimes charge prices that are insufficient to cover the required reserves. While unsustainably low prices may be appealing to a dealer in the short term, a series of much less pleasing events usually follow: First comes frequent and substantial price increases to correct an under-reserved portfolio, then comes stricter claims approvals. And once all these belt-tightening measures are exhausted, those companies that seemed like a good low-price alternative at the beginning exit the service contract space altogether.

With GWC, those fears don’t exist. Our rock-solid reputation is one that will help an agent or dealer maintain theirs. We have a long history of doing something simple: keeping our promises. It sounds basic, but we pay claims. Aside from that, we invest in talent, training and technology to make sure we’re delivering the best-in-class experience we commit to providing.

By maintaining these principles as a priority throughout our organization, it’s our hope to attract likeminded agents who are looking to join us.

What advice would you give to someone new to this industry?

Simply put, do things the right way. Sometimes we see companies and individuals in this industry looking to get rich overnight. But if you do things the right way and catch on with a company with strong leadership, you can be part of something special that helps consumers hit the road worry-free and businesses continually improve upon themselves.

Is there anything else you would like to add?

For me personally, I have such a strong passion for GWC Warranty. It’s what gets me out of bed each morning. I’m here each day to make this a great company. I would encourage agents and dealers to give us a look to see how this same passion is shared by every GWC employee. Everyone at GWC takes pride in helping our partners succeed, and it’s something that is clearly evident from your first conversation with us.

If I could give any advice to agents and dealers, I would tell them it’s imperative they do their due diligence before selecting a partner. Not all VSC providers are created equally. If you make a decision solely based on price, the consequences could be disastrous. Agents and dealers work too hard to put their reputations and customer satisfaction at risk by partnering with the wrong VSC provider.

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GWC Warranty Improves Product Suite With New Offerings

WILKES-BARRE, Pa. – GWC Warranty, the best-in-class provider of used vehicle service contracts and related finance and insurance products sold through automotive dealers, has bolstered its already expansive product offering. The company recently introduced a new 5-year, 100,000-mile used vehicle coverage term length and a Service Lane product.

“At GWC Warranty, we pride ourselves on providing the products, service, technology and training to help dealers sell more cars,” said GWC CEO and President Rob Glander. “We know the needs of automotive dealers nationwide are constantly evolving and these new additions demonstrate our commitment to providing a product set that meets the ever-changing needs of our dealer partners and their customers.”

Based on input from dealers across the country, the new 5-year, 100,000-mile coverage term is available on select used vehicle protection plans, and provides the same high-quality, reliable GWC Warranty coverage that has helped protect more than 1.5 million drivers since 1995 at a new, longer term length.

Service Lane is a new, exciting addition to the GWC product suite. Specially designed for dealers with on-site service facilities, the new Service Lane product allows dealers to sell GWC service contracts directly from their service facility.

In the past 15 months, GWC Warranty has completely revamped its product offering to better meet the ever-changing demands of used car dealers. In July 2014, the company announced changes to its core products. The improved products were built to better serve a greater variety of drivers’ budgets and coverage needs. At the same time, GWC also introduced its own Certified Pre-Owned Program to help dealers sell more cars by taking advantage of an industry trend proven to sell vehicles for $700 more per unit and move inventory 12 days faster.

To learn more about the complete GWC product suite with something for every used car dealer, visit www.gwcwarranty.com/products.

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GWC Warranty Introduces iPad App for Dealers

WILKES-BARRE, Pa. — GWC Warranty, a provider of vehicle service contracts and related finance and insurance products, recently unveiled the new GWC Warranty Dealer App for iPads, reports F&I and Showroom. The app is now available in the Apple App Store.

The GWC App features an educational video library, interactive coverage selection tool, real-time, reactive virtual shopping cart and mobile rating engine with VIN scanner to create a fast, easy, user-guided experience for selling vehicle service contracts.

“In developing the GWC Warranty Dealer App, our goal was to create the easiest way to sell a vehicle service contract by taking customer education and contract rating from the top of a desk to the palm of a hand,” said GWC Warranty CEO and President Rob Glander. “This app is yet another tool for our dealers that lets them and their customers know they are working with the best-in-class vehicle service contract provider. Part of our promise as a company is to help our dealers sell more cars by investing in technology to make them more efficient and progressive.”

The GWC Warranty Dealer App for iPads is the latest in a line of the company’s technological innovations designed to help dealers sell more cars. In the past year, GWC also introduced its web-based Dealer Portal, which offers the ability to rate and remit vehicle service contracts online. For Elite and WealthBuilder Dealers, GWC also recently introduced online claims service to help expedite the claims process for customers of GWC’s top dealer partners.

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An Interview with Rob Glander

Rob Glander, CEO and president, GWC Warranty Corporation, is an interesting person. He seems to be one of those rare people who live life to the fullest. When talking to Rob, he is just as passionate about providing the best service in the business as he is about his family, books, music and a sundry of other topics, all of which he also discusses on his blog. He lists his biggest accomplishment in life as convincing the most beautiful woman in Madison to marry him.

Glander writes a blog at GWCWarranty.com that makes for an engaging read. His humor, intellect and story-telling ability will draw you in. You will quickly find yourself reading one entry after another as he draws parallels from everyday life events to the principles of running a successful business. He also recommends a wide variety of books, TV series and movies to readers. The topics range from the history of the circus, to stories of bank robbers and punk rock stars, and from Nobel-prize-winning economists to the latest political thriller. Glander says the blog “humanizes” the company a little and has been helpful in recruiting new employees and dealer and agent customers.

On his blog, Glander talks about how he joined Twitter “primarily to keep with the thoughts of musicians, actors and other creative types.” But soon, he found business colleagues were following his tweets. Glander describes it as “a bit jarring.” He likens the experience to an episode of Seinfeld, where George’s compartmentalized worlds collide. Glander then invites readers to tweet him with their own experiences engaging in the new social media universe while maintaining personal dignity.

Certainly, Glander has so far achieved many significant things in life. In 2009, GWC recruited Glander to help guide the company out of the depths of the recession. He joined and spent most of 2010 recruiting a top leadership team to re-engineer the entire company, modernizing it from a very traditional, family-run type of business into a more professional operation. Before that, he worked in a variety of finance, operational management, marketing and executive roles at GM/GMAC, Chase Auto Finance, and Barclays Bank after earning a MBA from Northwestern.

Glander’s energy and enthusiasm for life spill over into everything he talks about. When asked about his company, he explains with pride that it was founded nearly 20 years ago, and they are a leading provider of vehicle service contracts and a trusted partner to over 20,000 independent and franchised car dealerships. As he explains the workings of his company and services they offer, he speaks fondly as if he is a proud father recounting the achievements of his children. It is clear that Glander takes his company’s slogan of, “No Worries. Just Drive,” as a personal driving mission.

Over the years, GWC has evolved into a company whose products are sold by both an employee-based sales force and what Glander describes as “a network of some of the most reputable agents in the country.” They offer a full suite of vehicle service contract products, including stated component and exclusionary policies and wraps that dovetail with manufacturer warranties. They have expanded their financial backing to include majority ownership by Stone Point Capital and product backing by Assurant. On the service side, Glander explained, their in-house claims department is co-located with their headquarters in Wilkes-Barre, PA and is staffed by ASE-certified adjusters. “This means that customers, dealers and service shops are always in close communication. The arrangement allows our professionally trained representatives to provide the very best service in the business.”

With over a hundred companies competing in the vehicle service contract industry, Glander says very few do things well and do them honestly. “GWC is proud to be one of the most trusted names in the business and to partner with agents and dealerships who also treat their customers well. We offer our dealers and their customers a “No Worries” experience through outstanding service and expansive coverage options. We also offer agents a “No Worries” experience by allowing them to focus on building their business, spending time on dealer relationships, not dealer problems.”

When GWC establishes relationships with agents, Glander explained, they offer them exclusivity in an area. This eliminates the frustrations many agents face when they are forced to compete with other agents selling the identical product from the same company – a situation that often times forces agents to cut their commissions in order to compete.

While GWC has partnerships with agents, dealerships and finance companies, they have traditionally served independent dealers. In recent years, however, they have experienced rapid growth among franchised dealerships. As those franchised dealerships sell more and more used vehicles, particularly 60,000 plus mileage vehicles, Glander says they look for a VSC provider with experience in underwriting and administering products appropriate for those vehicles. They also enjoy the opportunity to keep some of those riskier vehicles out of their reinsurance pools and let the experts manage the risk. This is a niche Glander says GWC serves especially well and they do so with affordable pricing.

When asked what he views as the biggest issues facing the industry today, Glander shared his concerns about how easy it is for VSC companies to start up in some states. “They are a threat to our industry’s reputation. I’ve actually had competitors tell me that they’re funding their business on a ‘pay-as-you-go’ basis, which is insane and will lead to a disaster for their dealers and end customers. GWC has never operated that way, even in its earliest days. We have always been over-reserved and strived to be the players in the ‘white hats’ in our industry. We pay claims! It seems obvious, but in this business, where ‘bottom feeder’ companies start up with very little financial backing and ultimately fail, we have a long history of living up to our promises. Unfortunately, these disreputable approaches have led to some of the regulatory heartburn we are all feeling today.”

In order to succeed in today’s market, Glander says you need to be focused on treating customers honestly and fairly, in part because of regulation but more importantly just because it’s the right thing to do. He believes that many of the excesses of the past have been wrung out of the system and the companies that are succeeding are doing it the right way. For a company to continue thriving in the future, Glander says they will have to invest in talent, training and technology to bring a truly superior product to their customers. “That’s what GWC is focused on and it’s why we’re attracting like-minded agents who share our business values.”

When Glander is not at work, you might be surprised to find him frequenting the local, or international music scene with his kids. “I met my wife in college at Merlyn’s, a legendary punk rock club, and to this day I remain an unapologetic indie-rock music geek. I try to see bands at clubs and festivals, even if it means I’m one of the oldest people there. There’s nothing like spending three days in the California desert at Coachella with your daughter or traveling across the U.K. from club to club with your son to stay connected to your kids while recharging your batteries.”

What advice would Glander give to someone new to the industry? “Join a company with an exceptional leadership team, strategy and culture. If you find that, you will have the opportunity to learn from the best and apply your strengths immediately… You spend a good portion of your life at work, so you better give it the best you have to offer. If you can’t say that you’re proud of what you’re doing, then you’re either doing the wrong kind of work, or you’re the wrong kind of person.”

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