CHICAGO – Personal Safeguards Group (PSG), the warranty and specialty products start-up, is entering 2014 on a head of steam.
Founder/president Mike Frosch, formerly president of The Warranty Group, reported that his six-month-old business has established relationships with many leading CE and majap manufacturers – in addition to auto, home and affinity firms – for underwriting, administration and technology and marketing solutions.
A key initiative for the new year includes helping retailers and OEMs build new programs or modify existing ones to bring components of their extended-warranty programs in-house.
“PSG helps clients structure programs with leading providers for underwriting and compliance, yet retain the customer experience and interaction to ensure the highest quality experience,” Frosch said in an email.
PSG is also pursuing aftermarket extended-warranty programs targeting customers who do not purchase at point of sale. This includes traditional cardbased and web-based registration programs that utilize direct mail and digital aftermarket solicitations, but with much richer data analytics and improved marketing, Frosch explained.
In addition, new device-based registration and solicitation programs are becoming a reality, he noted. “If you can buy a book via your device you can buy a warranty, for example. Many of today’s electronics let you interact with the consumer in many new ways including apps, web access and product support.”
He added: “With such a significant percentage of customers not purchasing an extended warranty at point of sale, it creates a great opportunity to generate additional sales.”
Frosch has more than 25 years of experience in the warranty and specialty products industries. Besides The Warranty Group (formerly Aon Warranty Group), he also served as president of its wholly owned insurance subsidiary Virginia Surety Co. and as executive VP of Niteo Partners, a professional services arm of NEC Corp. of America.
For more information, visit PersonalSafeguardsGroup.com.