Great article from David Sulfridge on General Motors path back into the Vehicle Service Contract and Protection Plan business.
Full Article: https://www.linkedin.com/pulse/gms-new-protection-plan-business-david-sulfridge-are-arc/
Author Archives: Editor
PCMI Named to “20 Most Promising Automotive Technology Solution Providers 2017” by CIOReview
PCMI’s administration software, Policy Claim and Reporting Solutions (PCRS), automates the full lifecycle of all aftermarket products.
Full Article: http://www.pcmicorp.com/2017/10/pcmi-20-automotive-technology-cioreview/
Assurant to Acquire The Warranty Group in Transaction Valued at $2.5 Billion
The transaction values The Warranty Group at $1.9 billion in equity value, or $2.5 billion of enterprise value, including their existing debt.
The deal is expected to yield $60m in pre-tax operating synergies. View Assurant’s presentation on the deal breakdown: http://s1.q4cdn.com/131015182/files/doc_presentations/2017/Assurant’s-Acquisition-of-The-Warranty-Group-Presentation.pdf
CarMD and CARCHEX Announce Strategic Partnership
CarMD, a leading provider of automotive diagnostic information, and CARCHEX, the industry-leading provider of direct-to-consumer Vehicle Protection Plans, today announced a strategic partnership to provide CarMD customers with additional means to reduce unforeseen car repair costs.
Full Release: https://www.prnewswire.com/news-releases/carmd-and-carchex-announce-strategic-partnership-300539274.html
2-10 Home Buyers Warranty Introduces Next-Generation Home Warranty Service Agreement
2-10 Home Buyers Warranty (2-10 HBW), the industry-leading provider of structural warranties for new construction homes and systems and appliances protection for pre-existing homes, announced today the release of their all-new Home Warranty Service Agreement.
Full release: http://www.prweb.com/releases/2017/10/prweb14808849.htm#!
Five Major Trends Surfacing in the U.S. Consumer Service Contract Industry
Warranty Week estimates the U.S. service contract industry generated $40 billion in revenue in 2016 with $17 billion from vehicle service contracts and $23 billion from all other products and devices. Personal Safeguards Group estimates U.S. consumers spent approximately $33.4 billion on new and used vehicle service contracts (at retail prices) in 2016. The numbers are hard to pin down, in part, because of the different ways contracts are classified and revenues reported. Sellers report revenue from retail sales whereas administrators report revenue from wholesale sales, and insurers report gross written premium. Warranty Week attributes slightly more than half the total volume to ten major players and the balance spread among 140 administrators and 33 admitted insurance companies. Any way you measure it, it’s a big industry, and getting bigger.
Allied Solutions and Interstate National Announce 5 Year Partnership Renewal
Strengthening their longstanding commitment to the credit union community, Interstate National announced that Allied Solutions has renewed their strategic partnership for another five years.
Starr Companies Appoints Matthew Taylor as Vice President of Extended Warranty
Starr Companies today announced the appointment of Matthew Taylor as vice president of extended warranty. He will focus on expanding Starr’s presence in consumer warranty products.
Full Release: http://www.businesswire.com/news/home/20170925005140/en/Starr-Companies-Appoints-Matthew-Taylor-Vice-President
Fortegra Introduces Jon Mikow as VP of Wireless
Fortegra announces the appointment of Jon Mikow as Vice President of Wireless.
Full Release: http://blog.fortegra.com/fortegra-introduces-jon-mikow-as-vp-of-wireless
Volkswagen Extends Powertrain Warranty to Six Years/72,000 Miles
For the 2018 model year, most new Volkswagen vehicles in the US will come with a six-year, 72,000-mile bumper-to-bumper limited warranty – which doubles the current warranty.