By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Irving, Texas – A new extended-service contract company has joined the CE fray.
New Leaf Service Contracts, founded by former Warrantech president Sean Hicks and chief financial officer Rick Gavino, promised to bring “a whole new approach” to the service-contract industry.
The third-party administrator said it is backed by Dealers Assurance and Starr Indemnity and Liability, both A.M. Best-rated underwriters, and offers service contract coverage for CE, fitness equipment, musical instruments, furniture and other consumer categories.
Hicks and Gavino said they created a dealer-centric formula built around customized and branded service-contract programs. An example of the latter is ServicePro, a carded product utilizing a customer-friendly activation website that gives smaller independent dealers “a consumer-driven solution,” the company said.
In addition, New Leaf has developed a full suite of technology solutions to streamline and support retailers’ online businesses.
“The service contract market has been consolidating for years” as insurance and administration companies have combined, observed Gavino, New Leaf’s president and COO. “We’ve created a range of innovative programs that address the changing market by focusing on the driving force of the industry — the retailer.”
“We don’t believe in a one-size-fits-all service contract business model,” added Hicks, the new company’s CEO. “We listen to our clients and then work to develop unique programs tailored to their specific needs. This dealer-centric strategy reinforces the loyalty and value of the retailer’s brand to their customers.”
To that end, New Leaf has created Service & Service Contract Consulting Services (SSCS), which facilitates training, development and delivery; enhances service center operations, streamlines call center management; assists with software selection; and provides marketing design services for retailers.
The company also has partnerships with multiple direct marketing firms to provide outbound telemarketing, email, and mail services for missed point-of- sale and renewal campaigns.
In addition, New Leaf is looking to add a third A-rated underwriter, as “Having multiple underwriter relationships gives [us] the flexibility to select a service contract program most suited to the needs of the individual retailer,” Hicks noted.
The company, which contracts with more than 10,000 licensed and insured manufacturer authorized service centers nationwide, is also seeking call center certification with J.D. Power & Associates.
An early client, Appliance Direct CEO Sam Pak, who signed on prior to the company’s formal launch, said: “I chose New Leaf because of their dedication and commitment to their clients. With New Leaf we will see great progress with our [extended-service plan] sales.”
For more information, visit NewLeafSC.net or contact Hicks at (972) 573-1268 or email@example.com.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.