Evolution Warranties will launch the Evolution Warranties Admin Scheme on 1 August. The service aims to remove hassle of self-administered warranty schemes.
Dealers can load their admin scheme vehicles onto the Evolution platform, free of charge, and Evolution will manage the full lifecycle of the warranty. Only a £25 administration fee is applicable for cars that have a claim against them.
Paul Watson, co-Founder and Chief Trading Officer, says “Managing a warranty efficiently and quickly is our bread and butter, so it makes sense for us to offer that as a back-office plug-and-play solution for dealers who want to get back to their core business of selling cars without paying over the odds to administer their warranty.
“Our service is designed to let dealers make more money for their shareholders and we’re the first warranty company to offer this service free of charge.”
“It makes sense for dealers to let us run their warranty scheme for them because we have the expertise and the skills to keep claims costs low. If a dealer has a 1 in 10 claims rate, effectively our scheme means that instead of paying for 10 policies, we only charge you for 1, therefore saving you money. It’s a quick win for dealers!”
Dealers will be able to offer customers more convenient and cheaper warranty products.
Sam Watson, national sales director at Evolution Warranties, said: “We know how difficult it can be for dealers to self-administer a warranty scheme, and what a distraction this can be from their core focus of selling cars, so we’ve come up with a solution that helps dealers focus on their core business and reduce their overhead, thus making more profit.”
