Allianz warranty sales on the rise
Allianz Global Assistance UK has reported a 15% increase in warranty sales during 2015 thanks to a widening of its cover options.
It says that warranty product enhancements, such as pay as you go, are vital to boosting customer renewals and building retention for motor manufacturers.
In the last year its focused on adding value with extended cover for keys and MOT test failure cover, supported by new website launches.
Liz Grindell, head of warranty and finance for Allianz Global Assistance in the UK, said, ‘We have been working in close partnership with our motor manufacturer clients to ensure our warranty offerings continue to evolve to meet the demands of their customers.
‘Over the past 12 months we have been focusing on delivering added value, in the shape of extended cover for keys and MOT test failure cover. This is supported by mobile friendly website relaunches, delivering their customers more channels to buy extended warranty.
‘The market is buoyant at the moment but we don’t see this as a reason to rest on our laurels. We plan to build on this success to drive more innovation into the warranty market, working with manufacturers to provide further products and services to enhance their customer retention.’