The division will provide both obligor services and insurance for warranty programs around the world. A release said that the obligor services – combined with the financial strength of Generali Group – will allow the warranty services business to offer dedicated support with financial backing to both US and multinational businesses.
“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,” said Generali US Branch executive vice-president and chief insurance officer Jose Luis Menéndez.
A release said that the specialty insurance division will partner with a variety of consumer retailers and dealers, third party administrators, and other consumer-facing entities to offer customized warranty services for consumer products. The division will offer warranty for products that include motor vehicles, watercraft, travel trailers, new homes, home systems, major appliances, televisions, consumer electronics, computers and other peripherals.
Menéndez commented that the warranty services line will allow Generali to execute on the larger strategy of promoting B2B2C relationships. The executive also mentioned that the specialty insurance division will continue to expand to offer other “unique solutions.”
