Newcomer Genric Automotive creates a one-stop for automotive customers
15 October 2013 | Company News & Results | Genric | Genric
GENRIC Automotive Underwriting Managers, a new underwriting management agent (UMA), looks at automotive insurance differently. The company has been created for motor dealers and their customers to be a one-stop shop for peace-of-mind motoring.
It offers warranties on motor vehicles where comprehensive insurance would not normally give cover. What makes GENRIC Automotive different to other warranty providers is that it offers a variety of products from one shop floor, with all of these products serviced by the same team of experts.
"GENRIC Automotive is an innovative one-stop shop for customers and motor dealerships, where the product is fair to the customer, and the commission to the motor dealer or broker is also fair,” Rodney Driver, marketing executive at the new UMA, says. "When you buy a new car, things sometimes go wrong, whether you want it to or not. With GENRIC Automotive you have something to fall back on, something that will assist you and that will revive and revitalise your car buying experience.”
The company is underwritten by GENRIC Insurance, a triple-A-reinsurance-backed niche insurer that specialises in innovative specialist products. GENRIC Insurance is also a vested stakeholder in this UMA.
"GENRIC Insurance gives excellent support to us, viewing us as part of the company and its growth strategy going forward, as opposed to us being a separate entity,” Driver says. "This brings immense security and stability to our product offering, having this kind of solid backing from an insurance company like GENRIC Insurance.”
The company is set to grow its product offering, he adds. The UMA officially launched in October.
GENRIC Automotive offers the following designer warranties:
REVIVE SILVER – For older vehicles in the event of mechanical or electrical failure.
REVIVE TITANIUM – For mid-range age and mileage vehicles in the event of mechanical or electrical failure.
REVIVE PLATINUM – For expensive low-mileage vehicles in the event of mechanical or electrical failure.
REVIVE EXTENDED – A warranty extending the benefits of the factory warranty.
REVIVE GAP ASSIST – A warranty that pays for the shortfall on a warranty claim.
RESTORE AUTOBODY WARRANTY – For dents, scratches and stonechips.
RESTORE INTERIOR PROTECT – For repairs of tears, scuffs, scratches and burn marks anywhere inside your car.
GENRIC ROTATE TYRE AND RIM WARRANTY – Peace-of-mind replacement or restoration of tyres and rims when damaged.
