AmTrust Financial Services (AFSI), the parent company of Warrantech, recently announced continued growth of operating earnings and strong operating on equity for the second quarter ended June 30, 2015.
Operating earnings were $130.5 million, or $1.55 per diluted share, an increase of 22%, compared to $107.1 million, or $1.34 per diluted share, in the second quarter of 2014. Second quarter 2015 net income attributable to common stockholders was $70.7 million, or $0.84 per diluted share, compared to $106.3 million, or $1.33 per diluted share, in the second quarter 2014. Second quarter 2015 annualized operating return on common equity was 26.3% compared to 28.0% in the second quarter 2014. Annualized return on common equity was 14.3% for the second quarter of 2015 compared to 27.8% for the second quarter of 2014.
Second Quarter 2015 Results
Total revenue was $1.11 billion, an increase of $0.10 billion, or 10%, from $1.01 billion in the second quarter 2014. Gross written premium was $40.3 billion and net written premium was $1.01 billion, an increase of $85.0 million, or 9%, compared to $923.7 million in the second quarter 2014. Net earned premium was $969.0 million, an increase of $94.0 million, or 11%, from $874.9 million in the second quarter 2014. The combined ratio was 90.5% compared to 90.9% in second quarter 2014.
A summary of Q2 results is listed below along with a link to the earnings release.
Second Quarter 2015
• Gross written premium of $1.68 billion, up 16% compared to $1.44 billion in the second quarter of 2014
• Net earned premium of $969.0 million, up 11% from $874.9 million in the second quarter 2014
• Operating diluted EPS of $1.55 compared to $1.34 in the second quarter 2014
• Diluted EPS of $0.84 compared with $1.33 in the second quarter 2014
• Annualized operating return on common equity of 26.3% and annualized return on common equity of 14.3%
• Service and fee income of $107.7 million, up 8% from the second quarter 2014
• Operating earnings of $130.5 million, up 22% compared to $107.1 million in the second quarter 2014
• Net income attributable to common stockholders of $70.7 million compared to $106.3 million in the second quarter 2014
• Combined ratio of 90.5% compared to 90.9% in the second quarter 2014
• Gross written premium of $3.41 billion, up 10% compared to $3.11 billion YTD 2014
• Net earned premium of $1.92 billion, up 13% from $1.70 billion YTD 2014
• Operating diluted EPS of $3.01 compared to $2.58 YTD 2014
• Diluted EPS of $2.69 compared with $2.60 in YTD 2014
• Annualized operating return on common equity of 27.1% and annualized return on common equity of 24.2%
• Service and fee income of $220.6 million, up 16% from $190.5 million YTD 2014
• Operating earnings of $251.9 million, up 23% compared to $204.5 million in YTD 2014
• Net income attributable to common stockholders of $225.4 million compared to $206.1 million in YTD 2014
• Combined ratio of 89.8% compared to 90.4% in YTD 2014
• Book value per common share of $24.05, up 8% from $22.34 at December 31, 2014
• AmTrust's stockholders' equity was $2.47 billion as of June 30, 2015 up 21% compared to $2.04 billion as of December 31, 2014
For more consumer tips and information regarding extended warranties and vehicle service contracts, be sure to visit: https://www.crowdrise.com/amtwarranty
Posted January 27, 2018 02:57
Extended warranty service plan is AMT Service Corp's program that provides customers with the highest level of coverage. They can be set up to protect new electronic products against most, if not all, potential malfunctions or failures, including those that are not covered by the product's original equipment manufacturer (OEM) warranty.
1. Allows customers to prepare for the unexpected and possibly avoid having to pay for any large, unforeseen repair bills.
2. Convenient, efficient and stress free, it takes away anxiety consumers might have should something go wrong with their purchase.
3. Affordable and costs a fraction of what one might typically pay for a new replacement.
4. Saves time as customers no longer have to search for a repair company to fix their damaged merchandise.
5. If a covered product is not repairable, it could be replaced with a new model.
6. Consumer products have become more complex and contain more electronics than they did just 10 years ago, which makes an extended service contract even more valuable to have.
7. As a value-added benefit, numerous service contracts provide toll-free call center support for immediate help with in-home repair and questions about covered products.
8. Some OEM warranties offer limited protection, which can be supplemented with an extended service contract once the warranty expires.
9. Electronic products have become more mobile over the years, which mean that they can be more susceptible to accidental damage from typical everyday use.
10. Many service plans offer on-site repair for added convenience.
For more consumer tips and information regarding extended warranties and vehicle service contracts, be sure to visit: -https://www.amtprotect.com/Home/Index
Posted January 10, 2018 01:50
Sym‐Tech Dealer Services (the “Company” or “Sym‐Tech”) announced today that AmTrust Financial Services, Inc. (NASDAQ: AFSI), through its subsidiary AMT Warranty, has partnered with Sym‐Tech through a minority investment in the Company.
“We are very pleased that AMT Warranty chose to partner with Sym‐Tech,” said Brad Wells, CEO of Sym‐Tech Dealer Services. “AMT Warranty’s automotive expertise as well as their underwriting, OEM, insurance and reinsurance knowledge and experience will allow for an expanded offering of F&I products and services for clients in Canada.”
Sym‐Tech drives improved business office performance. A full suite of F&I products, industry‐proven training and in‐dealership development, as well as F&I menu and proprietary technology, combine to drive dealer performance and profitability.
Sym‐Tech’s 40 year history of serving Canadian dealers, combined with AMT Warranty’s extensive insurance services and solid financial backing, create a unique partnership that provides Canadian OEMs, auto dealers and automotive dealer groups with one of the most comprehensive offerings available. The full suite of solutions includes:
• A complete line of F&I products and programs
• Training and in‐dealership development
• Proprietary F&I technology
• Expertise in underwriting, actuary, insurance and re‐insurance services
“AMT Warranty has experienced tremendous success in the United States and we look forward to extending our success to the Canadian marketplace through a long‐term relationship with Sym‐Tech,” said Sean Stapleton, President and CEO of AMT Warranty. “Sym‐Tech has a solid reputation, one of the best F&I software platforms in the industry, extensive knowledge of the market and significant experience. Importantly, Sym‐Tech’s vision, values and strengths are strongly aligned with AmTrust.”
About AMT Warranty
AMT Warranty Corporation, a wholly owned subsidiary of AmTrust Financial Services, Inc. (NASDAQ: AFSI), provides finance and insurance products to automobile, RV/trailer, marine and power sports retailers, manufacturers and financial institutions. AMT Warranty offers innovative F&I products, program development and customer support. With over 25 million active contracts, AMT Warranty has a reputation for providing highly scalable and financially successful programs. By incorporating extensive industry knowledge, customized program options and a customer centric approach to service, AMT Warranty has become the leading provider of F&I products in the aftermarket industry.
About Sym‐Tech Dealer Services Inc.
Founded in 1971, Sym‐Tech Dealer Services Inc. is a leading Canadian F&I provider to the retail automotive industry. Sym‐Tech is a performance‐driven company with the mandate to help improve business office performance. Sym‐Tech offers F&I products, industry‐proven training and in‐dealership development, as well as F&I menu and a proprietary software platform (d.a.v.e®) which drive dealer performance and profitability.
For more information about AMT Warranty Corp feel free to visit: – https://www.crunchbase.com/organization/amt-warranty
Posted December 11, 2017 02:25
“The quality of RVs generally has increased, yet there are many and more devices,” claimed Joe Suttera, Warrantech’s vice president of specialty items. “From a warranty point of view, there does exist far more danger than there ever has been relating to these units.”
The continued progress of the actual RV industry in 2017 is great news not just for the nation’s RV brands, aftermarket providers along with retail dealers, but also for the companies providing extended-service contracts to this growing wave of RV consumers.
The truth is, the particular extended-service-contract business is growing, firms told RVBusiness, due to this sustained boost in the sales of new in addition to used towable and also motorized RVs.
Certainly, the market is currently encountering its 8th successive year of growth, along with wholesale deliveries of new RVs expected to rise 4.4% inside 2017 to 438,000 units, in line with forecasts by Richard Curtin from the University of Michigan’s Consumer Survey Research Center.
That continuous flow of new- and used-vehicle sales creates large prospects for dealers to trade their customers extended-service agreements, the expense of which is generally included in the vehicle loan at the time of purchase.
Regardless of whether their RV is completely new as well as used, people wish to have comfort with the knowledge that unforeseen repairs is going to be protected while his or her vehicle’s warranty ends. Whilst manufacturers offer unique variations of warranties to pay stuff that may malfunction in the mechanical as well as living regions of an RV, warranties only last for specific intervals. Extended-service contracts are actually designed to extend warranty protections for additional amounts of time with varying levels of coverage and cost.
Extended-service contracts are also available to cover stuff that aren't normally included in factory warranties like roadside assistance, tire-and-wheel coverage and paint-and-fabric protection.
Millennials, in particular, are in tune with the most recent innovations inside technology and they want it to operate.
Extended-service contracts might cover these items right after the warranties expire to offer shoppers reassurance with their RV acquisitions, irrespective of whether they have got pre-owned or new automobiles.
Bill Gilman, senior v . p . of sales for Warrantech, and AMT Service Corp Financial Company operating out of Bedford, Texas, said there were a lot more “fit and fitness issues” with RVs back in 2007 when the RV market had been struggling through the Great Recession. The economic downturn forced a lot of RV makers bankrupt. Although while the quality of today’s RVs has significantly improved from 2007, Warrantech and other extended-service contract suppliers see an abundance of possible hazards to pay for.
“The quality of RVs on the whole has increased, but there are additional and much more gadgets,” claimed Joe Suttera, Warrantech’s vp of specialty products. “Now you’re covering 50-inch flat-screen TVs, full walk-in showers. From a warranty understanding, there is unquestionably a lot more danger than there ever has been in terms of these products.”
As one may well expect, businesses that provide extended-service contracts closely check their claims reports to enable them to price their contracts as required. They also monitor feedback from RV dealers as well as frequently possibly update their extended-service contracts to pay for new releases or perhaps develop fully innovative varieties of extended-service contracts for dealers to offer.
Extended-service contract organizations offer a number of educational programs and significantly sophisticated electronic applications to expedite contract sales as well as claims processing.
However the time to make the initial pitch to customers is within the F&I process when they’re buying their own used or new RVs. That’s when dealers come with an possiblity to educate clients to determine the variations among warranties along with extended-service contracts.
Warrantech Automotive, an AmTrust Group Co. Bedford, Texas
Product offering: Warrantech markets exclusionary as well as stated extended-service contracts while using CampersEdge brand name. The company handles motorhomes valued at up to $5000,000 and with up to 100,000 miles. In addition, it includes towable units valued at up to $150,000 and that are approximately 15 years old. The company also provides specialty contracts for RV technical help; 24/7 roadside guidance; windshield repairs; painting and interior; tire and also wheel coverage; in addition to key/remote replacement coverage. Warrantech also provides Towbusters coverage with 24-hour emergency towing, roadside support, lost key as well as lockout service, map routing help in addition to theft and also hit-and-run protection. The organization also provides confirmed asset protection (GAP) coverage.
Key contact: Bill Gilman, senior vice president of sales, (210) 788-2555 or email@example.com
Posted May 5, 2017 07:22
Warrantech’s parent corporation, AMT Service Corp, Inc. (AFSI) today proclaimed 3rd quarter 2016 net income as a result of common stockholders had been $103.6 million, or $0.60 per diluted share, when compared to $182.7 million, or $1.09 per diluted share, inside the third quarter 2015.
For the 3rd quarter 2016, operating earnings had been $126.3 million, or $0.73 per diluted share, when compared to $150.9 million, or $0.89 per diluted share, in the 3rd quarter 2015. Annualized return on typical equity had been 15.9% for the third quarter 2016 when compared to 35.4% for the 3rd quarter 2015. Third quarter 2016 annualized operating return upon common equity was 19.4% when compared with 29.2% in the third quarter 2015.
"We delivered an excellent performance inside the 3rd quarter, having strong investment outcomes, increased service plus fee income, and also boost in gross written rates, in comparison with exactly the same period last year," said Barry Zyskind, Chairman, President in addition to Chief Executive Officer, AmTrust. "Our performance mirrors a full quarter's contribution from Republic Companies, along with ongoing robust policy retention and also self-disciplined underwriting of new business within our tiny commercial business portion, as revealed by our stable loss ratio. The top-line results of our specialty risk as well as extended warranty segment reveal the impact of the diminish in the British pound compared to the 3rd quarter during the past year, and we are happy with the actual performance of this section."
Mr. Zyskind also said, "We are positive regarding our organic growth prospects, given our differentiated model in workers' reimbursement as well as commercial lines products within the U.S., along with prospects within our warranty insurance providing around the globe. We remain aimed at constructing a portfolio of commercial which leverages our proprietary technologies together with our effective operating structure to reinforce shareholder comes back."
Third Quarter 2016 Results
Total income was $1.41 billion, a boost of $181.3 million, or 15%, from $1.23 billion from the 3rd quarter 2015. Gross written premium was $2.03 billion, a growth of $253.3 million, or 14%, from $1.78 billion within the third quarter 2015. Net written premium had been $1.22 billion, a boost of $73.1 million, or 6%, compared to $1.14 billion in the 3rd quarter 2015. Net earned premium was $1.20 billion, an expansion of $150.8 million, or 14%, from $1.05 billion inside the 3rd quarter 2015. The combined ratio was 91.5% in comparison with 92.6% in 3rd quarter 2015.
A summary of Q3 final results shows up beneath in addition to a hyperlink to the income release.
3rd Quarter 2016
• Gross written premium of $2.03 billion, up 14.2% in comparison to $1.78 billion in the 3 rd quarter 2015
• Net earned premium of $1.20 billion, up 14.4% from $1.05 billion inside the third quarter 2015
• Net income as a result of widespread stockholders of $103.6 million in comparison with $182.7 million within the third quarter 2015
• Operating earnings of $126.3 million as compared with $150.9 million inside the third quarter 2015
• Diluted EPS of $0.60 in comparison to $1.09 within the third quarter 2015
• Operating diluted EPS of $0.73 as compared to $0.89 in the 3rd quarter 2015
• Service in addition to fee income of $146.6 million, up 16% from $126.1 million within the 3rd quarter 2015
• Combined ratio of 91.5% in comparison to 92.6% inside the 3 rd quarter 2015
• Weighted average diluted shares outstanding of 173.1 million, up 3% when compared to 168.3 million in the 3 rd quarter 2015
Posted February 2, 2017 05:29
AMT Warranty Corp/Warrantech is without a doubt a subsidiary of AmTrust Financial Services, Inc., 1 of the most powerful and most economically stable corporations on the market. AmTrust brings this financial toughness to Warrantech, that allows us to supply custom-made ideas in addition to benefits that many competition just can't provide.
Financial Durability along with Balance - Publicly traded on the NASDAQ (AFSI) with more than $6.1 billion in gross written premium and over $15 billion in property, having an A.M. Best rating of “A” (Excellent), Financial Size “XIII.”
Multi-State Functionality - Workers’ comp designed in in excess of 40 states, and all of lines of insurance written in greater than thirty states.
Adaptable Payment Plans - Installment plans, AmTrust AutoPay (direct debit) and also Pay-As-You-Owe® (PAYO®) provide seamless high quality repayments, conserving time and funds.
Superior Claims Managing - 24/7 claims reporting utilizing live guidance, as well as veteran claims professionals together with assigned case loads well within the industry average.
Exceptional Loss Control - Associates located all over the country to help carry out safety inspections, site evaluations and also loss prevention education.
User-Friendly Submission Technique - Easy-to-use, web-based technique delivers policy, endorsement and loss history close to hand, in addition to helps you submit along with chat online with your underwriter in regards to submitted risk.
Competing LCM Rate Composition - We're continuously researching plus fine-tuning our LCMs to reflect our loss experience along with competitive atmosphere.
Aggressive Agency Commission - Our commission costs generally vary from 9%-20% determined by the merchandise written.
Extending P&C Merchandise Offering - We have been consistently evaluating the market and also our agents’ needs to provide new coverage’s from Workers’ Comp to Commercial Package plus a wide array of niche merchandise.
Gratifying Customer Service - Remarkable service is the actual rule at AmTrust, provided by our field marketing distributors, local underwriters in addition to centralized customer support specialists.
For more information feel free to visit:-https://about.me/amtservicecorp
Posted December 20, 2016 06:06
Yesterday at the Third Annual GWSCA Conference on Warranty and Service Contracts in Chicago, Illinois, Warrantech’s parent organization, AMT Warranty Corp, Inc., gained the award for “Innovation in Warranty” for the “Complete” program.
Complete is a complete protection plan program developed for Microsoft’s OEM as well as third-party devices offered with Microsoft’s many sales channels, including their brick and mortar store destinations, their own online store, distribution partners, and also resellers world-wide. In 2009, the whole program unveiled in a single Microsoft store. Today, AmTrust is definitely the exclusive provider of Microsoft Complete in 60 countries, with plans that cover Surface Pro, Surface Book, Surface Hub, Xbox, Band, HoloLens as well as third-party OEM PC items marketed by Microsoft.
Experienced leadership, powerful management, strong technology platforms, efficient operations, in addition to focused client management are among the essential capabilities driving the prosperity of AmTrust meant for Microsoft Complete.
AmTrust works carefully in addition to speedily to facilitate Full sales in all the territories where hardware is definitely being sold. In just eighteen months from original launch, these people presented Complete in sixty countries and also expanded the product offerings to include almost all Microsoft OEM products. They’ve formulated one of a kind mobile applications to market, sell as well as sign up smart phone insurance coverage together with Microsoft Mobile, earlier known as NOKIA.
The particular Global Warranty and Service Contract Association (GWSCA) assists the warranty and also service contract communities world-wide. Launched and also operated by industry experts who volunteer time and skills, GWSCA offers programs, resources along with services which develop as well as enhance the knowledge, capabilities along with performance of its constituency, both individuals in addition to companies. In this manner, GWSCA encourages and also promotes industry wide innovation and advancement towards excellence.
AMT Warranty, Inc. is actually a financial holding business with 27 insurance carriers operating worldwide and giving small business insurance, unique risk, in addition to warranty along with specialty risk solutions. All their insurance companies are generally “A” rated by A.M. Best. AmTrust is usually a publically traded firm trading within the symbol “AFSI” on NASDAQ.
AmTrust underwrote $6.8 billion within Gross Written Premium inside 2015 and contains assets well over $17 billion. They've already offices in more than 40 locations as well as work with more than fifty nations around the world. Inside 2014, AmTrust has been ranked 63rd in Fortune magazine’s Fastest Growing Businesses. Inside the same year, Forbes called AmTrust as one of the best run companies (insurance). Warranty Week, the top online authority in the warranty industry identified AmTrust as the most ‘warranty-centric’ firm.
Congratulations to AmTrust Financial about this remarkable fulfillment. To find out more regarding the corporation and their services, check out amtrustgroup.com.
Posted November 30, 2016 04:18
AMT Warranty does a great job at comprehending as well as answering the requirements of companies within our target markets, so we offer you a variety of programs to offer those wants. In the world of extended service plans (ESPs), extended warranties, or even service and parts replacement programs, a lot of buyers are becoming immune to the regular practices familiar with promote most of these programs. The truth is, in the event your salesforce is still advertising the “what if” situation to today’s really qualified people, your store is definitely passing up on beneficial sales that guide drive high-margin progress along with sales revenue.
In line with NBC News, extended warranties support fuel a booming $15 billion-a-year organization; consequently, it’s essential that retail sales staff hone their sales techniques for “add on” product sales for example ESPs. By means of constant training and education, sales teams are usually far better in a position to triumph over “new” arguments to these successful strategies and figure out which prepare best suits the consumer’s need.
The below marketing tactics are quite obvious, but effective ways to strengthen your sales reps express the value of ESPs and therefore turn much more buyers:
Get consumers’ attention: - By way of expressing the well-known for instance, “This technique is included under the manufacturer’s warranty for merely 1 year,” chances are you'll pique the actual consumer’s curiosity enough to have him/her inquiring much more about extended warranty coverage.
Listen to consumers’ responses: -It seems uncomplicated, but often sales representatives get so active pushing sales out the door, they don’t hear what precisely people actually want to know more about. If a adviser works on many of the feedback shoppers reveal throughout the sales procedure, then customers might be very likely to hear sales talk on the subject of policy. Bear in mind, always address consumers’ arguments along with indicate exactly how ESPs defeat the argument.
Offer choices: -Often buyers could be more inclined to obtain lengthy coverage should they realize they have got alternatives. This puts them in the driver’s seat to decide on the plan which best suits their desires. For example, propose prolonged and also regular warranty coverage as well as allow them to ask queries regarding the difference, that may result in the sale of a plan that they have faith in.
Maintain positivity: -Much like in life, when you focus on the advantages, you’ll more likely receive beneficial feedback. Concentrating on the actual solid pros and cons of the ESP, consumers might discover the up front cost can be worth the expenditure.
Pro source: -Provide people with sales representatives’ experience or perhaps the instruction they obtain prior to marketing on to the ground. (Furthermore this is most effective if the store posts signs on the floor regarding the quality of its staff members.) In doing so, each time a sales associate claims, “In my expertise, ESPs are required,” the consumer carries a frame of reference why this can be a measurable statement. Testimonials are generally another excellent solution to converse value along with benefits (leverage your own personal encounters, your customer, your store’s client, etc.).
Brands which matter: -We’ve almost all fallen victim to the brand game at some time within our lives as well as individuals are no different. People typically buy the brands they think stand for high quality or reputation in addition to grimace on unknown brands. But while some companies develop a good washing machine, they can not make a fantastic Television set and yes it reveals in the manufacturer warranty details (in particular materials). Your staff needs to know the details of the maker warranties equally well as the ESP to help clarify the value extended coverage offers.
Explain the fine print: -Helping shoppers better realize what’s covered, what’s not along with exactly why make your sales staff their ally. This particular dialogue not simply builds trust, but additionally present sales people a way to reveal some of the holes within the manufacturer’s warranty.
Consider this: -Once buyers have all the important points about the warranties or maybe ESPs, it’s all right to permit them consider their own options. Get them walk across the store, speak with their spouse/significant other or maybe consult with customer service distributors regarding the products they see returning or even how much it costs to repair a variety of merchandise. Often, an alternative source generally is a welcomed change of pace with regard to buyers that don’t desire to fall prey to “sales hype.”
Advise it: -If you think in it, your prospects may too. Become acquainted with the features and rewards and also remind buyers exactly how costly repairs as well as replacements could be if they’re not supported by a strong ESP.
Inquire “why not” an ESP: -Sometimes the most obvious questions go unasked for example “Why wouldn’t you want to shield your purchase?” or maybe, “What’s stopping you from proceeding?” After your sales staff knows the reply to why, they might be in a position to employ numerous sales tactics to sell or even attach an ESP.
ESPs add appreciably to a retail organization’s bottom line given that they don’t require inventory space or carrying costs and so they offer high margins. Numerous rrndividuals are receptive to purchasing ESPs, however they do need to be sure to add an idea to their basket and are also seeking to your sales staff to speak the functions and rewards of the plans, as well as your organization’s commitment behind the particular programs. Sprucing your sales tactics - off and on the sales floor - is often a critical key to increasing ESP sales as well as improving the value these plans bring to buyers.
Posted November 21, 2016 04:46
Is an extended warranty very important for used vehicles? This is usually a question you think of when you buy a used car. Before buying an extended warranty you ought to clear all of your current questions pertaining to extended warranties. There are lots of players available in the market but one that may clear your own questions when buying extended warranty on your vehicle is usually AMT Warranty.
1. When you elect to obtain an extended warranty you should definitely understand the business that backs up the particular warranty. Confirm the reputation of the organization and read the actual online reviews submitted by customers for that company on various review websites.
2. Exactly what car elements are covered in the extended car warranty program?
3. Whenever your car gets repaired, exactly how does the mechanic get paid? Does your own warranty provider company cope withthe particular mechanic directly or do you need to speak to the particular mechanic or perhaps repair shop yourself?
4. Is towing being included by the warranty?
Here are several details to clear your current uncertainties about precisely how important an extended warranty is any time you're buying a used car.
(1)Shield your financial allowance from future repairs:-
The main purpose of an extended warranty could be to present monetary protection to suit your needs from long term repairs. Buying a used car is not an bad choice however used vehicles need regular maintenance. If unexpected repairs arise along with your car or truck then an extended warranty addresses all the repairs.
(2) Growing Resale Value:-
Do you wish to sell your vehicle later on? Having an extended warranty increases the resale price of your car or truck. A vehicle with an extended warranty is usually a signal that the owner has established great initiatives to be sure the good maintenance of the vehicle. If the extended warranty is transferable then its good for the next buyer which means you can sell your car or truck at very good price.
An extended warranty provides you reassurance when you know that your truck is beneath financial protection which means you don’t need to be concerned with regards to any kind of unanticipated expenses in your car or truck. You don't need to be worried about expensive vehicle repairs because your warranty is there so that you can take the load from you. Prior to selecting an extended warranty for your vehicle you ought to read the terms and conditions of your warranty meticulously.
(4)Lowering your Stress:-
The challenge of unexpected malfunctions can present you with plenty of strain. If your car or truck faces a car accident then you've to discover someone to tow the car and choose a repair center. For those who have an extended warranty for your vehicle then you only need to contact your warranty provider and they'll send you all the assist you to need.
An extended warranty will be cheaper when you buy it from the organization for instance AMT Service Corp rather than from a dealer. It provides you bumper to bumper coverage when you pay a smaller amount for maintenance.
In the end an extended warranty a great idea for used vehicles. You should think about getting an extended warranty with your vehicle for the many different motives mentioned on top of.
Posted November 16, 2016 04:06
AMT Warranty deals with every one of the management of Protect-it plans. You finally worked up the actual gumption to order the one product you’ve discussed buying for several months. Whether it is a whole new auto, technologically sophisticated equipment or maybe the most up-to-date electronic system, you’ve managed to get through second guesses, fiscal information as well as a lengthy checkout line to ultimately make your purchase. Relieved as well as ecstatic, you smile as the sales associate rings up your preferred merchandise.
When you daydream about how precisely wonderful life will probably be with your brand-new “toy,” you are aware of the actual sales associate asked you a question. You beg their pardon.
“I asked what kind of protection plan you’d like. You will discover a number of extended warranty choices,” the associate answers.
Your smile fades. Seemingly the decision making isn’t quite over after all.
Will this sound familiar? For many folks, the issue of whether or not to buy an warranty (far more correctly termed as an extended service plan, or ESP)* is really a difficult one, and might not be a choice they're prepared to make. Just when is this kind of buy highly recommended? Could it save cash, or simply just add cost to a purchase? The resolution to these inquiries rely on quite a few variables specific to each purchase. Look at the subsequent before you reach the point-of-sale down the road, and you will probably save your time and avoid anxiety:
*NOTE: While a good many store associates and buyers consider the purchase to be an extended warranty, this really is definitely not the case. A lot of extended plans aren't truly adding on to the unique manufacturer’s warranty, rather, lengthen the particular post-warranty service alternatives and are generally therefore far more suitably termed as an extended service plan, or ESP.
What exactly is the product or service and also who created this?
Reputation is obviously a vital consideration when attemping to predict the robustness of an item. Particular sorts of items are statistically more inclined than the others to need repairs inside their first couple of years of use. According to Consumer Reports, for instance, pcs, self-powered mowers along with some fridge styles top the list of items most likely to crash.
It's important, furthermore, to bear in mind if the product you’re getting utilizes cutting-edge technologies or possibly a first-generation product. With less of these items active in the marketplace, we have a better likelihood of glitches or maybe issues that might possibly not have been discovered in the course of tests. Additionally, factor in just what organization created the product you happen to be acquiring. Do they have a reputation of releasing products before the “bugs” have been worked out?
How much will the product cost and how challenging could it possibly be to exchange?
When acquiring a pricey object, you must think about simply how much repairs or maybe replacement would cost as opposed to the expense of an ESP. When the object is of essential importance to you, perhaps a personal computer utilized to make a living, a costly part failure may be very unfavorable.
“For a lot of people, satisfaction is the better benefit of an extended service plan,” according to Sean Stapleton, CEO of Warrantech. “They want to find out that if their product should cease to perform appropriately, they'll be covered, especially when replacement could be challenging to finance.”
Who is the product for and just how would they deal with it?
It is essential to think about who'll be utilizing the actual product you’re acquiring, the environment in which it may reside, along with the frequency it will probably be used. Are you investing in a product for a youngster? Is the particular merchandise for use while on-the-go? Do you want to utilize the product or service routinely? When the answer to any of these queries is “yes,” you may want the confidence and also protection that the product will last. Understanding your end user along with end-use environment is essential any time deciding on whether to spend money on an extended service plan. Constantly review plan information meticulously, guaranteeing you realize exactly what is and isn’t protected.
The next time you're making a significant investment in a service, think about these 3 questions and be prepared once you get towards the point-of-purchase.
Posted November 2, 2016 05:22
In today’s remarkably cut-throat retail marketplace, offering useful add-on solutions is definitely important to raising earnings and bettering customer satisfaction. Yet, deciding the necessity of an extended service plan (ESP) is often within the eye of the observer. For quite a few buyers, it’s known as safety blanket, understanding their particular purchase is protected even after the vendor's warranty expires. Other folks, nevertheless, find warranty plans as an additional line item on their own receipt they can’t validate during challenging economic periods. As retailers look to enhance income in times of flat sales, it’s crucial to clarify the extensive benefits ESPs offer shoppers above and beyond the actual warranty terms and conditions.
One Size Doesn’t Suit All
Considering slumping retail sales, extended warranty programs are actually a necessary as well as lucrative value-add for suppliers. Extended warranty plans such as product replacement programs, extended service plans, on-site service and comprehensive service plans offer definitely different alternatives to aid customise a strategy which most closely fits the consumer. By knowing the specifics, your employees will certainly much better equipped to maximize the value these kind of plans present.
Full satisfaction Confirmed?
The only method to have valuable dialogue with the consumer should be to possess a well-represented team offering products as well as the services related to them. Usually, you'll find four elements that go through the actual consumer’s mind when considering an ESP:
1. Value of product being obtained
2. Expense of extended warranty
3. Lifetime of manufacturer's warranty
4. Length of extended warranty in addition to date coverage will begin
Via various sales techniques and methods, the sales team can easily re-engage the buyer beyond the usual talking points by simply highlighting the services your warranty provider presents that frequently get unnoticed:
1. Save time and your money - If a product stops working during the extended term, the customer won't have to manage restore issues or maybe bills due to the fact either a alternative (provided same day or even overnight) as well as repair of the product will probably be handled by the supplier. Locating an approved service center by the consumer’s ZIP Code is another precious time savings.
2. On-going support - With regard to recurring product support or perhaps concerns about a plan, shoppers may call a dedicated toll-free ESP hotline for questions or some other details through the term of their extended warranty.
3. Trusted partner - The actual extended warranty plan is connected to the buyer, certainly not the store. Considering that the rate of foreclosures and bankruptcies tend to be up in today’s economy, it by no means hurts to indicate the particular ownership aspect of the ESP.
The Bottom Line
The joy of consumer electronics is actually cut throat - profit margins are slim, expenses should stay competitive or even merchants lose business. For suppliers, finding new solutions to enhance profits are not easy to get. Yet, ESPs cost very little to market, take up very little inventory area and are also easy to market. Retail personnel, particularly, will be in a unique position to market extended plans to people considering that the transaction takes place live, in-person and at the stage of purchase. Timing is undoubtedly part of the sales equation, nevertheless marketing value to an advised customer gives better customer satisfaction and also sought-after revenue.
Posted October 22, 2016 06:31
AmTrust Financial Services, Inc. (AFSI) at present declared continued growth of operating earnings and strong operating return on equity for the 1st quarter of 2016.
For the first quarter 2016, operating earnings were actually $136.6 million, or $0.77 per diluted stock, when compared to $121.4 million, or $0.73 per diluted share, within the first quarter of 2015. First quarter 2016 net profit because of frequent stockholders was $100.3 million, or $0.56 per diluted stock, compared to $154.7 million, or $0.93 per diluted stock, within the initial quarter 2015. Initial quarter 2016 annualized operating return on common equity had been 22.1% in comparison with 26.1% in the very first quarter 2015. Annualized return on common equity was 16.2% for the initial quarter of 2016 in comparison to 33.3% for the first quarter of 2015.
Initial Quarter 2016 Results
Total profits was basically $1.28 billion, an increase of $0.16 billion, as well as 15%, from $1.11 billion inside the first quarter 2015. Gross written premium appeared to be $1.93 billion, a boost of $0.20 billion, or 12%, from $1.73 billion in the first quarter of 2015. Net written premium was $1.22 billion, an improvement of $0.18 billion, or 17%, as compared with $1.04 billion within the initial quarter 2015. Net earned premium was $1.07 billion, an increase of $0.12 billion, or 13%, from $0.95 billion in the first quarter 2015. The actual combined percentage was 91.2% as compared to 89.0% within first quarter 2015.
A summary of Q1 results shows up below along with a link to the income release.
1st Quarter 2016
• Gross written premium of $1.93 billion, upward 12% in comparison with $1.73 billion in the first quarter 2015
• Net earned premium of $1.07 billion, upward 13% from $0.95 billion within the 1st quarter 2015
• Operating diluted EPS of $0.77 in comparison with $0.73 in the first quarter 2015
• Diluted EPS of $0.56 when compared with $0.93 in the 1st quarter 2015
• Annualized operating return on common equity of 22.1% and also annualized return on common equity of 16.2%
• Service along with fee income of $144.2 million, up 28% from $112.9 million within the initial quarter 2015
• Operating earnings of $136.6 million compared to $121.4 million within the 1st quarter 2015
• Net income attributable to common stockholders of $100.3 million in comparison with $154.7 million within the first quarter 2015
• Combined ratio of 91.2% when compared with 89.0% inside the first quarter 2015
• Weighted average diluted stocks outstanding of 177.9 million, up 7% when compared to 166.9 million inside the first quarter 2015
• Book value per common share of $14.35, up 20% from $12.00 at March 31, 2015
• AmTrust’s stockholders’ value was $3.14 billion as of March 31, 2016, way up 8% in comparison with $2.91 billion as of December 31, 2015
Posted August 30, 2016 07:50
Warrantech’s parent firm, AmTrust Financial Services, Inc. (AFSI) today announced second quarter 2016 net income as a result of common stockholders was $134.8 million, or $0.78 per diluted share, compared with $70.7 million, or $0.42 per diluted share, in the second quarter 2015.
For the second quarter 2016, running profits was in fact $140.3 million, or $0.81 per diluted share, when compared to $130.5 million, or $0.78 per diluted share, within the 2nd quarter of 2015. Annualized return on common equity was 21.1% with regard to the 2nd quarter of 2016 as compared to 14.3% for the second quarter of 2015. Second quarter 2016 annualized operating return on common equity was 21.9% as compared with 26.3% in the 2nd quarter 2015.
2nd Quarter 2016 Outcomes
Total profits seemed to be $1.39 billion, an improvement of $0.28 billion, or 25%, from $1.11 billion within the second quarter 2015. Gross written premium was basically $2.07 billion, an increase of $0.39 billion, or 24%, through $1.68 billion inside the second quarter of 2015. Net written premium was $1.27 billion, an improvement of $0.26 billion, or 26%, compared to $1.01 billion in the second quarter 2015. Net earned premium was $1.18 billion, an increase of $0.21 billion, or 22%, from $0.97 billion inside the second quarter 2015. The actual merged ratio was 91.7% as compared to 90.5% in 2nd quarter 2015.
A summary of Q2 results shows up below along with a link to the gains release.
2nd Quarter 2016
• Gross written premium of $2.07 billion, up 23.5% compared to $1.68 billion in the 2nd quarter 2015
• Net earned premium of $1.18 billion, up 22.0% from $0.97 billion inside the second quarter 2015
• Net income attributable to common stockholders of $134.8 million as compared to $70.7 million inside the second quarter 2015
• Operating earnings of $140.3 million as compared with $130.5 million in the second quarter 2015
• Diluted EPS of $0.78 in comparison with $0.42 in the second quarter 2015
• Operating diluted EPS of $0.81 in comparison with $0.78 in the second quarter 2015
• Annualized return on common equity of 21.1% and annualized operating return on common equity of 21.9%
• Service and fee income of $138.3 million, up 28% from $107.7 million in the 2nd quarter 2015
• Combined ratio of 91.7% compared to 90.5% in the second quarter 2015
• Weighted average diluted shares outstanding of 173.0 million, up 3% compared to 168.1 million in the 2nd quarter 2015
• Repurchased 3.58 million common shares at a weighted average price of $24.82 per share
Posted August 26, 2016 06:34