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Chartis Acquires 3rd-Party Admin Service Net


Consolidation within the warranty industry
continued this month with the acquisition of
third-party administrator Service Net by leading underwriter

Financial terms were not disclosed.

The move makes Chartis an end-to-end player in the
extended-warranty business while providing Service
Net with the financial backing of the global insurance

Service Net is being integrated into Chartis’ U.S.
warranty division, which currently services more than
75 million active contracts.

“With its inclusive service management platform and
customer-centric focus, Service Net is an excellent fit
for the overall growth strategy of Chartis’ consumer
lines business,” said Charles Williamson, president of
consumer lines for Chartis U.S. and Canada. “We see
tremendous opportunities to leverage
these capabilities to create
product differentiation and drive
customer engagement across our
multi-channel platform.”

James Mostofi, president of
Chartis’ U.S. warranty division,
said that the acquisition of Service
Net “provides significant value-added services
to our warranty clients by adding 24/7 multilingual
call center support, cutting-edge telecommunications
systems, claims adjudication, risk management, direct
marketing capabilities and aftermarket services to our
existing underwriting capabilities. Our ability to offer
a full spectrum of insurance and service solutions
will broaden our warranty opportunities here in North

Service Net vice chairman and founder Lansdon
Robbins added that “Chartis’ world-class clients and
global strength are the perfect complement to Service
Net. We are proud to be a part of this renowned organization
and have the opportunity
to leverage the synergies that exist
between our organizations for the
benefit of our current and future

Based in Jeffersonville, Ind.,
Service Net provides warranty/
extended-service plan administration
and support services for a variety of manufacturers,
retailers, buying groups and distributors, including
a number of Fortune 1,000 companies.

Chartis, which was spun off by AIG in 2009, is a
leading property-casualty and general insurance organization
serving more than 70 million clients worldwide.