LAS VEGAS – Organizers of Warranty Chain Management Summit (WCM) announced today that Dan Tafel of Hornbeam Insurance and Frost Brown Todd's Jesse Wilson will present "The Evolving Arena of Commercial Warranty Programs" at the 2021 event. WCM 2021 will take place Aug. 29 – Sept. 1 at the Bellagio Las Vegas.
Commercial warranty offerings provide manufacturers’ the opportunity to differentiate their product with performance guarantees and longer term service. – Dan Tafel.
There is an emerging and evolving market for commercial warranty. For many years, the commercial warranty market was limited to the medical field and restaurant markets. However, it’s growing at a rapid rate with demand creating several new warranty markets. The rapid change in consumer products have reshaped the warranty industry with the emergence of “Performance Guarantees.”
Warranty coverage for previously expensive and complex systems for security cameras, home automation, and audio systems are now available using relatively inexpensive connected devices. Commercial entities are increasingly using automation and artificial intelligence due to a shrinking labor pool driven by historically low unemployment.
New companies supporting this technology are driving demand for “warranty insurance” to stand behind their limited warranty or product performance. Increasing oversight of financials and services is driving companies to use financial tools such as Deferred Liability Insurance to remove long term liability on the books and increase current profitability. Overall, these markets have led to important developments in the, previously stagnant, commercial warranty market. For the time being, these markets are relatively unregulated allowing for creative new risk and warranty solutions.
Dan Tafel helped start Hornbeam Insurance, part of a well-established Life Insurance company founded in 1906. Hornbeam’s focus is exclusively in the warranty market providing insurance solutions to support innovative new programs in the small-middle markets. As a member of the Executive Team, Dan leads Hornbeam’s sales and marketing initiatives. Prior to joining Hornbeam Insurance, Dan was Vice President of AIG’s global sales and management team for multinational warranty clients. He initiated client relationships and managed a team to launch AIG’s first two global warranty client with both Apple and Dell.
Jesse Wilson is an accomplished legal, regulatory compliance, and risk management professional. With over 20 years of industry experience focused on risk identification and mitigation within the highly regulated transportation and insurance industries. He has diverse business and legal leadership experience with thorough understanding of compliance, legal, and operational complexities, and a proven ability to resolve complex operational and legal compliance issues through cross-functional teamwork and collaboration.
The WCM 2021 room block is available for reservations on the event website. Early-bird rates of $139 (plus tax) will remain in effect until Aug. 6 or until the block is full.
To inquire about sponsorship and exhibition opportunities, contact David Gesualdo via email or call 727-947-4027. Additional information regarding Pre-Conference Workshops will be made available in the coming weeks on the event's website.