extended warranty
How Long Does it Take to Form a New Service Contract Company
01-Aug-2023
How Long Does it Take to Form a New Service Contract Company
It is easier than you might think to form your own Service Contract Company. The basic elements are well defined and many great resources are available to help you with detailed items.
The best method is to engage with an advisor with experience and connections in the industry to help guide you through the many decision points, engage the right partners for regulatory or legal and help source the right insurance carrier to support your requirements.
You can have a solution up and running in as few as two months or up to 9 months, depending on the roles you in-source versus outsource. A good advisor will help explain the various options and who the best companies are to support a new company.
Many companies simply want to take control of the customer experience and maximize the profit by sharing in the underwriting profits in addition to the upfront commissions. This approach is very easy to set up and the lest time consuming.
Building the proper roadmap in the beginning is the key to launching a new company.
WarrantyResources.com is a property of Personal Safeguards Group, LLC. Contact Us with any Questions.
Retailers and Manufacturers - Take Control of Your Customer Experience
01-May-2023
Now more than ever, Retailers and Manufacturers need to focus on recovering lost margins and enhancing the customer experience by eliminating unnecessary layers and costs related to their Service Contract programs.
With many Retailers and Manufacturers already managing the customer experience with a replacement or repair program, there is no need to insert a third party for administration or for integration with the insurance carrier. A direct relationship is the most cost-efficient method, yet most companies don't realize that this option exists, and unnecessary layers can add as much as 40% to the cost of a program versus a direct model.
It’s never been easier to take control of a service contract program, maximize the value to the customer, and only use third parties for regulatory and insurance solutions.
A properly structured program does not impact revenue recognition, does not require the Retailer or Manufacturer to obtain a provider's license, and still allows the Retailer or Manufacturer to participate in the underwriting profit when the contracts earn.
WarrantyResources.com is a property of Personal Safeguards Group, LLC. Contact Us with any Questions.
With many Retailers and Manufacturers already managing the customer experience with a replacement or repair program, there is no need to insert a third party for administration or for integration with the insurance carrier. A direct relationship is the most cost-efficient method, yet most companies don't realize that this option exists, and unnecessary layers can add as much as 40% to the cost of a program versus a direct model.
It’s never been easier to take control of a service contract program, maximize the value to the customer, and only use third parties for regulatory and insurance solutions.
A properly structured program does not impact revenue recognition, does not require the Retailer or Manufacturer to obtain a provider's license, and still allows the Retailer or Manufacturer to participate in the underwriting profit when the contracts earn.
WarrantyResources.com is a property of Personal Safeguards Group, LLC. Contact Us with any Questions.