Added Value, Warranties in 2005
According to Hourigan, the intent and focus behind extended service providers remains steady.
"During the year, the NEW product development team has been hard at work creating many new programs and service enhancements," he says. "These programs have all been created with the same goal— increase our clients' bottom-line profits, enhance the loyalty of their customers and give them a competitive edge in a tough market."
Aside from looking forward to an overall boost in business through the sale of more replacement plans, the buzz phrase for those living in the world of warranties and extended service plans is "added value." While the growing sales of new technologies like plasma televisions, home theaters and digital imaging products are giving providers of warranties an extra wellspring of profits, many service contract providers are finding ways to garnish their plans with other services in order to make their offerings more attractive to consumers.