WARRANTYDESIGN
Our Solutions
Warranty Design brings together deep expertise in both warranty product development and compliance & legal strategy, creating a seamless, turnkey solution. By integrating these critical disciplines, we help businesses design, implement, and manage warranty programs that are not only innovative but also fully compliant—minimizing risk while maximizing value. Most solutions involve all three facets below, which can be performed in unison.
Program Design
Creation of new programs or businesses including add-on offerings. This often includes all aspects of program design, including: business structuring, rating and pricing, financial modeling, and process mapping.
Common Initiatives:
01
Commercial product businesses adding Product Protection as a service expansion. This is particularly common with innovative or high tech products, or products with specific or unique repair and maintenance requirements. May require: coverage creation, cost development, process mapping, consideration of service methods and levels and insurer selection.
03
Energy companies, ISPs, or others with subscriber-based services adding a Product Protection option. Often, these companies do not sell the underlying product.
02
Commercial or consumer product businesses in-sourcing services currently provided by a 3rd party vendor. The initiatives focus on improving service and profits. Special consideration is necessary to determine which functions should remain third-party operated while allowing program control as well as reinsurance and risk retention viability.
04
Entrepreneurs interested in the creation of new administrative entities which may provide coverage for auto, home, or consumer goods service contracts.
Vendor Selection
Industry vendors include insurers, administrators, servicers, software companies and other providers of support services. We have active programs with nearly all industry vendors. Trusted relationships with these parties as well as direct knowledge of their capabilities allows us to identify best-fit solution providers and hold leverage in negotiations.
Common Initiatives:
01
Consumer service businesses interested in adding Product Protection on existing products such as home warranty or home electronics bundles. Requires a deep understanding of existing industry participants, far beyond what is shared in their presentations.
03
Existing Protection Product industry participants looking for best-fit, synergistic partnerships with entities in adjacent spaces or affinity-based cross sale opportunities.
02
Self-administering companies who wish to utilize an existing insurer/obligor for risk management that may consider reinsurance options.
04
Existing industry participants seeking consultation in RFP design and evaluation.
Regulatory & Compliance
We have a deep understanding of the Protection Product regulatory environment and can structure programs that are both innovative and compliant. We support and manage ongoing compliance for several industry participants.
Common Initiatives:
01
Review of unique coverage concepts for compliance and insurability.
03
Acquisition of legal opinions via our partnerships with third-party law firms.
02
Form development, administrator/obligor licensing and regulatory matter management.
04
Cost and benefit analysis of self versus third-party management of the product's compliance program.
Product Protection Programs
Solutions designed to keep a product functioning. This includes all types of warranties, performance guarantees, and specialized insurance products for loss, theft, and other benefits.