Original Equipment Manufacturer (OEM) Warranty Programs
Universal Administrators provides turnkey, Inboard (included in the price of the product) Extended Warranty Programs for Original Equipment Manufacturers (OEM). HVAC, appliances, electronics, furniture, fitness, lawn & garden products, motors, components and widgets of varying description can be covered by flexible warranty programs that allow various lengths of coverage, normally from 1 to 10 years.
Inboard warranties provide high value to the customer in terms of quality, security and peace of mind. Manufacturers extended warranties are a competitive edge of great worth in todays quality conscious marketplace. If a manufacturer warrants his product when competitors do not, or can warrant his product for longer, or less expensively than his competition, it creates a huge advantage.
By utilizing UA third party administration, the manufacturer does not carry claim reserves for warranty coverage on its books. This approach lowers the manufacturers overall cost for reserves (because UA can do it less expensively), reduces the overall company risk exposure, and eliminates the company liability in covering the product. This strategy significantly enhances the manufacturers bottom line.
As third party administrator, Universal Administrators sets up the entire program. Ongoing, UA efficiently manages the contracts, premiums and reserves, call center, customer service, and claims processing. Years of actuarial experience assure low insurance risks that result in attractive profits for the underwriters.
Additional benefits include actuarial and market analysis reporting. Besides monitoring warranty program performance, these reports can be applied to retail market and product quality issues.
Universal Administrators claims processing and adjudication experience ensures high customer satisfaction and fair claims settlement. UAs expertise reflects favorably on the manufacturers reputation while eliminating improper payouts.
Value added Inboard Extended Warranty Programs from Universal Administrators ensure a superior, profitable competitive edge for all participants. The programs are proven to perform as promised. We draw upon over two decades of successful experience!
Your business is unique! Let Universal Administrators build a program that fits your needs:
- Retail Point of Sale Extended Warranty Service Programs
- Manufactured Home Extended Warranty Programs
- Deregulated Service Contract Programs