Generali US Branch’s new division Specialty Insurance division will provide insurance and obligor services for warranty programmes
Image: Generali building in Rome, Italy. Photo: Courtesy of Assicurazioni Generali S.p.A.
Generali US Branch, a subsidiary of Italian insurance company Generali Group, has launched the new Specialty Insurance division which will offer comprehensive warranty services and solutions.
The new Specialty Insurance Division will offer insurance and obligor services for warranty programmes worldwide. The company will offer the new services by leveraging its experience of serving more than 61 million customers across the globe.
By combining obligor services with financial backing from Generali, the new warranty services business is expected to offer dedicated support with sound financial backing to both US and multinational consumer-facing businesses.
The Italian insurer with its position in Western Europe and its growing presence across the US, Central and Eastern Europe, Asia and South America, through its 400 subsidiaries, is expected to enable the new division to offer unparalleled level of international support.
Generali US Branch executive vice president and chief insurance officer Jose Luis Menéndez said: “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.
“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.”
Generali stated that the new Specialty Insurance Division will partner with several consumer retailers and dealers, third party administrators and other customer-facing entities to offer robust and tailored warranty services for consumer products.
Generali’s capabilities could allow the new warranty service line to support several warranty programme structures such as Insurer as Obligor Programs, Administrator Obligor Programs, Direct Insurer Programs and Dealer Obligor Programs.
The new division will also support products like motor vehicles and homes
The new division also aims to provide warranty services to products such as motor vehicles, watercraft, travel trailers, new homes, home systems, major appliances, televisions, consumer electronics, along with computers and other peripherals.
Menéndez continued saying: “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.
“And our warranty services line is only the beginning — 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.”