Guarantee Administration


One of the most important but most often overlooked aspects of a successful product guarantee program is the administration of customer guarantees and claims.

Nassau Technologies Inc., as a member of the AGS Group of Companies, has successfully administered all aspects of this type of program for over ten years. The foundation of our administrative services is a very comprehensive proprietary software program developed specifically to manage product guarantee programs. This program allows us to provide our customers with the following benefits:

Document Tracking
All numbered customer registration forms can be recorded and tracked as they move from the initial inventory to a distributor, agent, dealership, Nassau Technologies for processing and ultimately to the insurance company. This is important for document security and provides the basis of management reports to monitor sales performance of agents and dealerships and to detect document submission breakdown by dealers.

Vehicle Accuracy
When the customer's vehicle identification number (VIN) is entered into the software it is automatically verified for accuracy by an internal algorithm. The software translates the VIN and automatically records the year, make and model of the vehicle. This assures consistent and accurate reporting of vehicle information.

Multiple Benefit Tracking
Our software was designed to manage multiple benefit levels, e.g., 3 year $1,000 benefit, 3 year $2,500 benefit, 3 year $3,000 benefit, etc. In the initial tracking stage our software "brands" the registration document with the applicable benefit to prevent any possible keypunch error that would register a customer with the wrong benefit. This benefit integrity is maintained throughout the claim process including the automatic print out of the check request reflecting the proper benefit amount. Our software also differentiates multiple products with multiple benefits on one customer registration form.

Customer Transfers/Resales
Our software recognizes and differentiates a transfer of an existing benefit to a second owner and a resale of a new benefit on the same vehicle. A transfer would only change the customer information, continuing the existing coverage, requiring no new premium due. A resale would have new customer information on an existing vehicle with new benefits resulting in a premium due.

Electronic Claims Processing
All steps of the claim process are recorded in the software program. Each step is electronically audited against the original customer registration to ensure compliance of all conditions of the guarantee. These electronically audited conditions include but are not limited to benefit amount, benefit term, reporting time limits, customer qualification, vehicle qualification, documentation (police report, proof of insurance payoff, proof of purchase, proof of repurchase, etc.), completion and claim submission time limits.

Insurance Bordereaux
Our software can compile and prepare the insurance bordereaux (both electronically and printed) on demand to meet any reporting time frames required by the insurance company. The bordereaux can also be prepared in any format required by the insurance company, i.e., by policy year, benefit amount, benefit term, by state of customer residence, etc. Safeguards built into the software prevent duplicate reporting of registrations to ensure premiums are only paid once.

Reports
In addition to the required insurance bordereaux, a listing of customer registrations by dealer can be provided to serve as confirmation of receipt of submitted registrations.

While our software is the foundation of our administrative services our experienced staff and time-proven procedures guarantee a professionally managed program which includes:


Data Entry
Customer registrations can be mailed directly to our processing center from the dealer. Our data entry staff promptly enters all submitted registrations and communicates with the dealer to resolve any incomplete or incorrect registrations.

Document Storage
Secure storage of customer registration forms filed by applicable policy year and dealer in our main office/warehouse.

Bordereaux Submission
Preparation and submission of the insurance bordereaux as detailed above to meet all reporting and schedule requirements of the insurance company.

Monthly Recaps
A “by dealer” listing of all registrations processed since the previous report can be provided as described above.

Toll-Free (800) Claims Hotline
A dedicated 800 number is assigned for customer claims. This 800 number is answered by a live operator 24 hours a day, 7 days a week including holidays. This initial call to the "Recovery Services Hotline" establishes a non-disputable reporting date and begins the claims process.

Claims Processing
Immediately after receiving the initial call a claims representative is assigned and contacts the customer to gather more detailed information about the theft and to give them an overview of the claims procedures. The following business day a confirmation letter is mailed acknowledging their claim and detailing their obligations and procedures for completing the claim. As the required documentation is received it is date stamped, recorded and reviewed for completion and accuracy. The required documentation is ultimately defined by the insurance company but may include the following: proof of insurance, proof of payoff showing to whom paid, VIN, and reason for loss, police report with VIN and proof of repurchase if applicable. The representative works with the customer to resolve any incomplete or inaccurate documentation. An ineligibility letter is sent at any time during this process if certain conditions are not met. Once all required documentation is received a claim package is assembled and submitted to the insurance company for payment.

Police and Primary Insurance Interaction
Immediately after receiving a loss claim we establish contacts with the law enforcement entity having jurisdiction of the theft. We confirm that the theft has been reported, the validity of the claim and that all the pertinent information, such as customer name, address, VIN, make, model and license plate number, have been accurately reported on the NCIC computer network. This procedure is critical to ensure all information is available to law enforcement agencies nationwide to increase the chances of the vehicle's timely recovery. Before the final claim package is submitted to the insurance company for payment, we reconfirm with the police department that the vehicle has not been recovered. We also contact the customer's primary insurer to check their claims history and profile to rule out potential fraud. A final verification with the primary insurer is made to confirm the subject vehicle has not been recovered and obtain verification of final payoff.

In summary, Nassau Technologies Inc. has the resources, proven experience and the desire to professionally manage all administrative aspects of any product guarantee program.

 

 

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