Generali US Branch, the U.S. arm of Generali Group, announced the launch of its Specialty Insurance Division, which will focus on providing warranty services and solutions.
The Specialty Insurance Division will provide both insurance and obligor services for warranty programs worldwide, said Generali in a statement.
The Specialty Insurance Division will partner with consumer retailers and dealers, third party administrators, and other consumer-facing entities to provide robust and tailored warranty services for consumer products, the company added.
The new warranty service line will support a variety of warranty program structures including Insurer as Obligor Programs, Administrator Obligor Programs, Direct Insurer Programs, and Dealer Obligor Programs. At the same time, warranty services will be provided for a wide array of products including motor vehicles, watercraft, travel trailers, new homes, home systems, major appliances, televisions, consumer electronics, as well as computers and other peripherals.
“Our warranty services line will also allow us to execute on the larger strategy of promoting B2B2C relationships and provide clients both in the U.S. and abroad with a single-stop solution for both regular and extended warranties,” said Jose Luis Menéndez, executive vice president and chief insurance officer of New York City-based Generali US Branch, the U.S. representative office of the Generali Group, which was established in 1935.
Menéndez added that the warranty services line is only the beginning with further product expansion planned.
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