One of the many experts who appeared on stage during Used Car Week 2019 quipped about how the ride-sharing vehicle taken from the airport to the Red Rock Resort in Las Vegas could have used some “TLC,” likely stemming from its extensive use while in service.
The anecdote provided a vivid example of what Preferred Warranties Inc. (PWI) is trying to accomplish with its latest offering.
The business unit of KAR Global recently announced it has added ride-share coverage to its vehicle service contract offerings. These new ride-share options can support consumers participating in the burgeoning mobility market.
The additional offering and other enhancements to plan coverage and terms align with the introduction of a new underwriter for PWI — Assurant. Rated an “A” by AM Best Ratings, officials explained the Assurant partnership brings expertise and experience as one of the most respected and successful underwriters in the business.
“Expanding into the mobility space is a strategic priority for KAR Global, and PWI’s new ride-share coverage helps solidify our investment in this growing market space,”, of PWI president Edmund Field said in a news release.
“Now backed by Assurant, our enhanced protection plans give dealers more reasons to choose PWI for vehicle service contracts that provide confidence and peace of mind to consumers and a critical revenue stream to dealers,” Field continued.
The ride-share coverage is available on all products except preferred truck or powersports. PWI said it has added various term and coverage enhancements to its Plus Plan, Premier Plan, Preferred Truck Plan and Base Plan vehicle service contracts.
“The ride-sharing economy relies heavily on well-maintained vehicles and drivers who have the resources they need to keep their cars on the roads,” said Rich Howse, senior vice president of mobility solutions for KAR Global.
“We are making investments across the enterprise at KAR Global to support the changing nature of car ownership and use — creating the tools and solutions for the evolving mobility landscape,” Howse continued.
The company added that the PWI sales team is providing dealers with new contracts and marketing materials, as well as training on the expanded plan offerings to assist in helping consumers choose the right plan for their needs.
“We are committed to listening to customer feedback and implementing improvements to services and products for both dealers and consumers,” Field said. “We give careful consideration to direct feedback, and many of these suggestions are reflected in PWI’s new enhancements.”
Established in 1992, PWI offers extended service contracts to more than 3,000 independent dealers. With a full menu of service contracts and extensive coverage levels, PWI products look drive high levels of confidence, value and revenue for partner dealers. To supplement product offerings, PWI provides service and training to assist dealers with selling these products, which in turn can creates value and enhanced satisfaction for their customers.
For more information, visit www.warrantys.com.