Warranty: Assurant Assures Its Growth
Consolidation has become a way of life in retail and manufacturing. The warranty industry is no different.
Assurant Solutions is a case in point. The company just finalized its acquisition with GE’s Warranty Management Group. As part of the deal, Assurant signed a 10-year agreement to market extended warranties and service contracts on GE-brand appliances in the U.S. Shortly after that, Assurant bought wireless handset servicer Signal Holdings. The deal is expected to close in the fourth quarter.
The upsides of the buys - both of which are in tune with Assurant’s aggressive growth strategy - include the ability to continue streamlining operations, creating greater control of the warranty transaction and execution process, and furthering the development of a transparent and seamless end-user experience, the company said.