Warrantech And Volvo Ink Vehicle Service Contract Deal
BEDFORD - Warrantech Corporation has signed a three-year contract to serve as Volvo Cars North America LLC’s factory-authorized OEM service contract administrator for new and used Volvo cars and light trucks.
The Warrantech agent network will provide Volvo’s 370-dealer network with its nationally recognized sales and support for customized service contracts. The service contracts will be underwritten by Warrantech’s parent company AmTrust Group insurance carriers, which are each rated “A” (Excellent) by A.M. Best.
Warrantech develops, markets and administers service contracts and extended warranty programs in the automotive and consumer products industries in the United States and Canada, reported F&I and Showroom.
Warrantech was acquired in August 2010 by AmTrust Financial Services Inc. through its subsidiary, AMT Warranty Corp.
“We are committed to partnering with strong organizations like Volvo that seek to provide excellent value and service for their clients. We are pleased that Volvo recognized both our proven performance and experience as a third-party administrator of automotive vehicle service contracts, as well as the financial strength and stability of the combined Warrantech-AmTrust organization,” said Dominic Sansone, Warrantech’s automotive sector president.
Among the highlights of the program are the use of Volvo genuine factory replacement parts and labor hours for warranty work, all paid to dealers at MSRP rates established by Volvo. Additionally, Volvo dealers will gain access to Warrantech’s strong sales and marketing expertise, as well as a robust array of online tools that provide strong service and ease-of-use throughout the service contract process, including quotes, contract issuance, reporting and remittance, coverage verification and claims.
The three-year contract to administer this program, which is branded as Volvo’s “VIP Program” (Volvo Increased Protection) begins in February 2011, and is effective for all of Volvo’s approximately 370 auto dealers in the U.S. and Canada. Term options for new vehicles range from four to eight years and 50,000 to 120,000 miles beyond the manufacturer’s warranty, and one to four years and 12,000 to 60,000 miles on eligible used vehicles.
“Volvo is pleased to be partnering with Warrantech for our Volvo Increased Protection – Extended Warranty Plan, said Christopher Dauerer, vice president of customer service for Volvo Cars of North America. “Warrantech’s process is Web-based and provides complete ease-of-use from product selection to contract generation. Furthermore, Warrantech has a cadre of agents steep in automotive background to introduce, train and develop the VIP Program at all retailer locations. Warrantech has committed to us the service and follow-up at all levels within the dealership.
“Volvo is taking many steps forward with the direction of our new leadership; this change forward with Warrantech is just another of those steps. We believe our retailers will be very excited to work with Warrantech, their agents and our VIP Extended Warranty Program,” Dauerer added.
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