The US branch of Italian insurance giant Generali has announced the launch of a new specialty insurance division that will focus on providing warranty services and solutions.
The new division will provide both insurance and obligor services for warranty programs worldwide and partner with consumer retailers and dealers, third party administrators, and other consumer-facing entities.
Generali says its multinational and domestic capabilities will allow the new warranty service line to support a variety of warranty program structures including Insurer as Obligor Programs, Administrator Obligor Programs, Direct Insurer Programs, and Dealer Obligor Programs.
“Our US Specialty Insurance Division is uniquely positioned to leverage Generali Group’s 200 years of proven service and its vast network of over 400 companies in over 50 countries, to provide specialized offerings both in the US and internationally,” explained Jose Luis Menéndez, Executive Vice President and Chief Insurance Officer, Generali US Branch.
“The backing of Generali Group, with more than €500 billion in assets, provides an incredibly deep and established platform for our new of warranty services and solutions.
“Our warranty services line will also allow us to execute on the larger strategy of promoting B2B2C relationships and provide clients both in the US and abroad with a single-stop solution for both regular and extended warranties,” Menéndez added.
“We will continue to expand our Specialty Insurance Division, leveraging the depth and breadth of our global organization to provide unique solutions to an evolving insurance and services marketplace.”