CARMEL, Ind., Nov. 14, 2019 /PRNewswire/ --
Preferred Warranties Inc. (PWI), a business unit of
global vehicle remarketing and technology solutions provider KAR
Auction Services d/b/a KAR Global (NYSE: KAR), announces it has
added ride-share coverage to its vehicle service contract
offerings. These new ride-share options 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, 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," said Edmund Field, president of PWI. "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."
"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,
SVP 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."
The ride-share coverage is available on all products except
Preferred Truck or Powersports. PWI has added various term and
coverage enhancements to its Plus Plan, Premier Plan, Preferred
Truck Plan and Base Plan vehicle service contracts.
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," said Field. "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 automotive dealers. With a full menu of
service contracts and extensive coverage levels, PWI products drive
high levels of confidence, value, and revenue for partner dealers.
To supplement product offerings, PWI provides best-in-class service
and training to assist dealers with selling these products, which
in turn creates value and enhanced satisfaction for their
customers. For more information, please visit
www.warrantys.com.
KAR
Contacts
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Media
Inquiries:
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Analyst
Inquiries:
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Gene Rodriguez
Miller
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Mike
Eliason
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(317)
343-5243
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(317)
249-4559
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gene.rodriguez@karglobal.com
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mike.eliason@karglobal.com
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About KAR
KAR Auction Services Inc. (NYSE: KAR), known as KAR Global,
provides sellers and buyers across the global wholesale used
vehicle industry with innovative, technology-driven remarketing
solutions. KAR Global's unique end-to-end platform supports whole
car, salvage, financing, logistics and other ancillary and related
services, including the sale of nearly 3.5 million units valued at
over $40 billion through our
auctions. Our integrated physical, online and mobile marketplaces
reduce risk, improve transparency and streamline transactions for
customers in more than 70 countries. Headquartered in Carmel, Indiana, KAR Global has approximately
15,000 employees across the United
States, Canada,
Mexico, U.K. and Europe. For more information, go to
www.KARglobal.com. For the latest KAR Global news, follow us on
Twitter @KARspeaks.
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SOURCE KAR Global