Tag Archive | "The Warranty Group"

The Warranty Group Announces Agreement with Coverdell

CHICAGO – Virginia Surety Company, Inc. (VSC), a wholly-owned subsidiary of The Warranty Group, Inc., today announced an agreement with Coverdell, Inc. to provide a customer loyalty program and support.

Coverdell, a full-services marketing company, will offer “Shop Ship Protect,” a program including price protection, extended warranty, purchase assurance and satisfaction guarantee benefits. Offered to financial institutions and others, the program is designed to enhance customer loyalty and generate fee income.

“Coverdell’s strategy is to provide high value enhancements to consumer purchases, and the logical choice was VSC, the industry leader. Solid financial backing is essential for all our offers, and VSC brings that and more to the relationship,” said Kathy Lannen, Executive Vice President of Coverdell.

According to Mike Frosch, President of North America at The Warranty Group, “Coverdell’s requirements align perfectly with our abilities to drive customer acquisition, retention and loyalty. Their clients will benefit from our strong financial backing and administrative capabilities and our proven record of adding value to every customer touchpoint through automation and technology innovations.”

Shop Ship Protect will be available nationwide this month through financial institutions and affinity groups.

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Resource Automotive’s TWGConnect℠ Drives Dealer Profits

CHICAGO – Resource Automotive Inc., a training, consulting and financial services provider and a unit of The Warranty Group Inc., announced that TWGConnect, its proprietary online warranty management system, is now a key component of its strategy to increase dealership profitability through the use of technology.

TWGConnect allows dealers to submit warranty claims electronically, reducing paperwork and expediting the claims process. Additionally, TWGConnect permits dealers to attach electronic documents and photos directly to the claim, further assuring quick and accurate claims settlement and facilitating payment.

“Efficient claims administration is key not only to customer satisfaction, but also to cash flow in our fixed operation,” said John Francek, chief operating officer of the Gary McGrath Auto Group in Elgin, Ill. “With online tutorials and on-site support as needed, TWGConnect streamlines our submission process and provides a broad suite of warranty management tools.”

“TWGConnect is a critical component of our strategy to drive per vehicle gross profit using an integrated approach to operational efficiencies, benefitting both our dealers and their customers,” said Mike Frosch, president North America for The Warranty Group. “People, products and process drive the numbers, and technology provides the efficiencies and metrics. From inventory management to claims administration, we look at every opportunity to push profit per vehicle. TWGConnect is key to those efforts.”

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A.M. Best Affirms Ratings of Virginia Surety Company

CHICAGO – The Warranty Group, Inc., today announced that A.M. Best has affirmed the financial strength and issued credit ratings of its wholly-owned Virginia Surety Company, Inc. to A- (Excellent) and revised the outlook to positive from stable.

According to A.M. Best, “The rating actions reflect Virginia Surety’s supportive capitalization, profitable underwriting results and management’s specialty niche expertise in the extended warranty market.”

Virginia Surety and its affiliated companies are the largest underwriters of consumer extended warranties worldwide. Underwriting activities principally include coverage for extended warranty programs on automobiles, household appliances, consumer electronics, credit card enhancement programs and nonstructural home warranty.

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The Warranty Group Named Finalist in Sales and Customer Service Competition

CHICAGO – The Stevie Awards for Sales and Customer Service has named The Warranty Group, Inc. as a finalist in two different categories – Innovation in Customer Service and Customer Service Department of the Year.

This competition awards businesses both big and small for their innovation and achievements in sales and customer service.

Business leaders representing small organizations and global corporations alike serve every year as the judges for the competition. Among hundreds of entries for sales and customer service, the judges honored The Warranty Group for its innovation, values, and unrelenting promise to maintain the highest level of respect for clients’ needs.

David Cole, chairman and CEO said, “At The Warranty Group, we consider our commitment to excellence part of our identity. We can write about our standards, we can talk about them, and we can assure our clients of them, but the most powerful testament to our promise of meticulous, consumer-driven service is national recognition. We are proud and honored to accept this acknowledgment, and we will continue our mission to exceed the expectations of our industry, our clients, and ourselves.”

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Virginia Surety Announces Administrative and Marketing Agreement with Express Systems

CHICAGO – Virginia Surety Company, Inc. (VSC), a subsidiary of The Warranty Group, Inc., will provide underwriting and actuarial services for Express Systems, Inc.’s reinsured product offerings.

“We are excited to announce the expansion of a nearly 20‐year relationship with Express and its associated companies,” said Mike Frosch, senior vice president of VSC. “This new endeavor includes
guaranteed asset protection (GAP) as well as other related finance and insurance product offerings.

Our goal is to help Express continue to grow its business by providing world class underwriting and actuarial services that compliment their value proposition.”

“Our partnership with VSC is another significant step in the growth of Express Systems,” said Dan Haugen, general manager of Express Systems. “We will be bringing more product and service value
to the dealer reinsured industry through leveraging VSC’s underwriting and marketing strength.”

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