New product suite features optimized pricing for dealers, convenient digital experience for drivers
ATLANTA, Sept. 21, 2023 – Assurant, Inc. (NYSE: AIZ), a leading global business services company that supports, protects, and connects major consumer purchases like automobiles, introduces Assurant Extended Care, a comprehensive new suite of vehicle protection products available for offer by dealers through Assurant’s Dealer Obligor program. Assurant Extended Care offers dealers the following enhanced products:
- Vehicle Service Contracts
- Guaranteed Asset Protection
- Ancillary Products (Tire & Wheel, Paintless Dent Repair, Key Replacement), bundled and sold separately
- Dealer Certified Limited Warranties
- Prepaid Maintenance
- Appearance Protection
“For dealers who prefer the dealer obligor model, these products offer more coverage and greater flexibility and are optimized for pricing and approvals.”
Assurant Extended Care brings dealers expanded and simplified terms, and a reduced number of forms, making it easier to do business. The product suite also features a seamless new digital experience for consumers, via the Vehicle Care by Assurant app and VehicleCarePlan.com, a comprehensive customer-facing website. These easy-to-use digital tools allow drivers to digitally manage their product contracts and keep their vehicles in top condition.
“Just as Assurant’s Dealer Obligor program remains unique in the industry, this new suite of products provides industry-leading solutions for our dealer obligor partners and their customers,” said Martin Jenns, EVP & President, Assurant Global Automotive. “For dealers who prefer the dealer obligor model, these products offer more coverage and greater flexibility and are optimized for pricing and approvals.”
Product enhancements to the Assurant Extended Care vehicle service contract include:
- Expanded vehicle eligibility – moving from “current plus 12 model years” to current plus 15 model years
- Open to vehicles with less than 200,000 miles (up from 150,000 miles)
- A wider choice of Terms, now including 12, 24, 36, 48, 60, 72 and 84 months
“Assurant Extended Care leverages decades of industry expertise and data to create customer-focused automotive protection products in terms of coverage, benefits, eligibility and more,” said Jeff Strickland, SVP, Assurant Dealer Services. “The result is benchmark coverage within the industry, tailored to best serve our partners in the industry-leading Dealer Obligor program.”
The streamlined portfolio of products in Assurant Extended Care is designed to help dealers and consumers stay ahead of another persistent challenge as inflation elevates repair costs and claim totals.
We looked at years of proprietary data on cost of claims, claims frequency and other factors to optimize these products with pricing designed to future-proof them against the effects of inflation," added Strickland. “This will help protect dealership revenue while giving consumers expanded coverage, even as the cost of both new and used vehicles are historically high.”
To meet consumer expectations for digital-forward tools, the Vehicle Care by Assurant app and VehicleCarePlan.com help drivers stay better connected to their vehicle – and their dealer – to easily manage their protection plans and vehicle care. With these online tools, drivers can:
- Digitally store their service contracts and protection plans
- Stay updated on the status of a repair claim
- Document service history
- Track upcoming maintenance
- Check for safety recalls
- Transfer a policy
When customers purchase Assurant Extended Care, they also get a convenient, intuitive online customer experience through the Vehicle Care by Assurant app and VehicleCarePlan.com website. Consumers want digital solutions for the products they purchase to make overall car ownership easier, which in turncan enhance customer loyalty.
To help dealers educate customers and market this new suite of products, Assurant has created easy-to-understand, needs-based videos and digital collateral that help dealers build value and place consumers front and center in the ownership experience.
About Assurant Global Automotive
Assurant Global Automotive is a leading global solutions provider in the automobile and commercial equipment industries. Automotive industry partners span manufacturers, large group and independent dealers, agents, third-party administrators, financial institutions, insurance providers, and vehicle technology companies. With over 50 years of automotive industry experience, Assurant protects 54 million motor vehicles in 19 countries by providing innovative solutions like vehicle service contracts, guaranteed asset protection, and ancillary products, while providing dealer performance management and training, participation options, and more. Assurant Global Automotive is also a market leader in protection products for the commercial equipment industry, with more than 30 years of equipment protection expertise. Assurant provides a full suite of protection products and services for equipment dealers and financial institutions supporting commercial equipment. These include extended service protection plans, physical damage protection, guaranteed asset protection, automatic insurance, portfolio protection, insurance tracking services and more.
Assurant, Inc. (NYSE: AIZ) is a leading global business services company that supports, protects and connects major consumer purchases. A Fortune 500 company with a presence in 21 countries, Assurant supports the advancement of the connected world by partnering with the world’s leading brands to develop innovative solutions and to deliver an enhanced customer experience through mobile device solutions, extended service contracts, vehicle protection services, renters insurance, lender-placed insurance products and other products.
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