Product category:
General insurance
News Release from: Allianz Cornhill Insurance plc | Subject: Insurance
Edited by the Insidemoneytalk Editorial
Team on 18 June 2007
Allianz Schemes in drive to help
electrical manufacturers grow their
income
Allianz Schemes are on a major drive to help the makers of electrical goods maximise the income they receive from offering their customers extended warranties.
In response to recent research carried out on the opinions of a number of leading electrical manufacturers Allianz Schemes are developing a fresh approach to warranty schemes Their main aim is to help manufacturers earn more profit than is currently obtainable in the marketplace over the lifetime of each warranty policy
This article was originally published on Insidemoneytalk on 23 Feb 2007 at 8.00am (UK)
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Also, in contrast to many existing warranty schemes, manufacturers will keep full control over their data and consequently be in a better position to preserve the relationship they enjoy with their customers.
Caitlin Gomes, product development manager, says it is an approach that will help to foster profitable, long-term relationships: "This will make it easier for both the insurer and the manufacturer to work closely together to identify and exploit any new opportunities for income generation." To support the launch of this initiative Allianz Schemes has strengthened its manufacturing team with a number of key appointments.
Transferring from within the business is Sallie Hare who takes on the role of new business controller while recent external appointees, Logan Steele and Nicola Mohns, join as business consultant and senior communications controller respectively.
Caitlin Gomes believes that many major electrical manufacturers will be keen to explore Allianz Schemes' new proposition: "Margins in the electricals sector have always been tight - and are getting tighter, largely due to the rising price of raw materials and the impact of the regulations on Waste Electrical and Electronic Equipment".
"These costs have put added pressure on manufacturers to find new ways of generating extra income".
"As a key player in the warranty market and one that has over 25 years' experience, we'd be only too happy to assist them in that process.".
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