PSG provided support in every step of creating a new service contract program in North America including:
Regulatory and Compliance
Sourcing an Admitted Carrier
The PSG process is designed to support Independent Providers, Original Equipment Manufacturers (OEM) and Retailers. OEMs and Retailers can in-source or outsource individual elements of their program for their Service Contract Program allowing individual structures to address revenue recognition issues, customer experience & lifetime value and overall program design and development.
Harley-Davidson India, premium motorcycle maker announces the roll out of an Extended Warranty program for its customers in India. Under the Extended Warranty program, all Harley-Davidson motorcycles can now be covered for four years.
In the Brazilian market, where large upfront payments are the norm, Zurich Insurance Group announced that its Brazilian subsidiary Zurich Minas Brasil Seguros S.A. has expanded its client base.
Zurich Minas Brasil Seguros S.A. now has an exclusive 8 year distribution agreement with Via Varejo S.A. for the sale of extended warranty insurance products through almost 1,000 stores in the Casas Bahia and Ponto Frio branded store networks of Via Varejo.
Zurich reported that is has agreed to pay BRL 850 million (approximately USD $350 million) under the distribution agreement to Via Varejo for channel exclusivity and commission advancement and expects to generate a premium volume in excess of BRL 1.3 billion (approximately USD $530 million) in the first year.