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AmTrust Financial Names New Warrantech Management Team

2/13/2012 12:01:00 AM Eastern
BEDFORD, TEXAS – AmTrust Financial Services has put a new management team in place at its Warrantech subsidiary, effective at the end of January.

The executive team is led by former Warrantech CEO Stuart Hollander, a senior VP of AmTrust North America, who has been promoted to chairman of Warrantech. Joel San Antonio will remain the chairman of Warrantech's holding company, AMT Warranty Corp.

Succeeding Hollander as CEO is Sean Stapleton, who also serves as VP and deputy general counsel for Am- Trust North America, with oversight of legal matters associated with the organization’s warranty and specialty risk programs.

In addition, AmTrust North America VP Bruce Saulnier has been named president of Warrantech sales; former chief operating officer Aleem Lakhani was named chief innovation and development officer; and AmTrust finance VP Steven Knapp was tapped as Warrantech’s chief financial officer.

AmTrust Financial Services acquired Warrantech through its former AMT Warranty subsidiary in 2010, and quickly consolidated the two third-party administrators under the Warrantech brand name, facility and management team. Since then, all new marketing activities have been conducted under the Warrantech brand for third-party administration services of extended warranties, although the AMT Warranty name continues as a legacy brand, a company spokesman said.

Warrantech recently implemented major enhancements to its core programs and service platform to better partner with retailers and distributors offering extended-service plans (ESPs). The changes, which include IT and infrastructure upgrades as well as step ups in its accounting and legal departments, were designed “to deliver an increased level of service, streamline processes and create opportunities for new product offerings and upgrades,” the company said.

One example of a recent investment in technology that has raised service levels is WCPSOnline. Warrantech said the online portal has significantly reduced administration costs, minimized administration errors and improved processing speed for retailers and distributors by offering service contract registration, terms and conditions retrieval, self-servicing repair order generation, real-time sales analysis and payment analysis, claim submission and express service.

The company also continues to offer its easy-to-implement RepairMaster ESP program, which can be presented to consumers as a pocket-sized card covering a range of categories and price options. The retailer or distributor partner simply purchases the card from Warrantech and sells it to their customers. The program can generate growth in their ESP businesses and help them realize stronger program growth than retailers who administer their own plans, Warrantech said, while building customer loyalty by providing reliable, convenient ESPs.

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