Protect My Car is a leading provider of Vehicle Service Contracts, which are more commonly known as after-market extended auto warranties. The company was founded in 2005, but we relaunched our new brand as Protect My Car in 2012. Over the last 4 years we have experienced a growth rate of 250% - 275…
Protect My Car is a leading provider of Vehicle Service Contracts, which are more commonly known as after-market extended auto warranties. The company was founded in 2005, but we relaunched our new brand as Protect My Car in 2012. Over the last 4 years we have experienced a growth rate of 250% - 275% year over year, with no sign of slowing that trend down anytime soon.
When Protect My Car was founded, our executives and board members wanted to create something different than the traditional warranty sales offices. The industry as a whole is very fragmented, our competition has to pay 3rd party company for fulfillment services, a per contract sold fee to the company that provides the sales office with a customer relationship management system, which is used to provide a quote to a new potential customer. When a contract is then sold to a new customer, the next step for these traditional sales offices is to have their 3rd party finance company take ownership of that customer so the sales center gets paid in 30 days and the finance company retains the customer and collects the funds over the term of the agreement.
The next major difference that sets Protect My Car a part from our other companies in our industry is that in most cases the company that sells the warranty contract doesn't service the contract, handle the claims administration, nor do they have the right to work their own collection accounts. The customer again is passed on to the finance company and the obligor of the warranty so they can process any claims filed.
Protect My Car retains the customer for the entire 3 - 6 year terms of their contract so from the time they purchase a protection plan from us, until the last day of their 5-year protection plan. Protect My Car has our own in house "no fee payment plan", an in house claims department with licensed claims adjusters. Along with having our own financing program, claims department and claims adjusters, we also employee 5 senior software developers that have built our own proprietary CRM or contract quoting system, and all new contracts are queued up the next morning in us in house fulfillment center.
Protect My Car has created some very specialized programs that separate us from our competition, allowing us to have some level of coverage or protection for all consumers interested. With our Business Intelligence software and real time analytics we are able to leverage our risk at all times and make adjustments to pricing on contracts sold in order to stay ahead of any unexpected liabilities.
We have developed a unique infrastructure experience with no 3rd party dependencies to advertise, for telecommunication services, or e-commerce sales. Our company operates under one 25,000 square foot location where our 180 representatives sell different types of contracts based on our consumer’s vehicle age, mileage and current running condition. All plans come with 24/7 Roadside Assistance, rental car reimbursement while our customer’s vehicle is being repaired and many plans include oil changes and tire rotations.
We are expanding our product line with home warranty plans, cell phone and tablet warranty plans, and Protect My Car is a licensed insurance agency for Progressive, Safeco, Mercury and many other companies to save our customers the most amount of money.
Team (1)
Recent Transactions (1)
Protect My Car
Direct Property and Casualty Insurance Carriers, Finance and Insurance, Insurance Carriers and Related Activities, Reinsurance Carriers
Advised
Protect My Car
in securing investment from
GWSOF
August 2013
Sectors Protect My Car serves:
Financial Services
Consumer Services
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