Arch enters the consumer product and home warranty markets
Arch Insurance has entered the consumer product and home warranty markets.
The Bermuda-based re/insurer is focusing on its underwriting only partnership approach for original equipment manufacturers (OEM), third party administrators, obligors and insurtechs, providing underwriting, compliance, data analytics and nationwide obligor access.
The new programmes are supported by the Arch warranty and lender solutions (AWLS) team, based in Kansas City, Missouri, which specialises in underwriting consumer warranty, automotive finance and insurance (F&I), and lender-placed insurance.
The offering offers coverage for products such as consumer electronics, appliances, mobile, furniture, HVAC and home warranty. Arch said its clients can create custom solutions for retail and OEM limited warranty and service contract programmes, and avail themselves of proprietary predictive data analytic platforms, state and federal compliance support and localised customer service.
Emilee Kuhn, executive vice president of AWLS, said Arch had built a 50-state obligor solution with leading back-end data analytics capabilities. “We’re unique in our ability to seamlessly support both US and Canadian business for partners needing a comprehensive North American solution,” she added.
Brian Olson, vice president of AWLS, said: “With over 15 years of limited warranty and service contract experience and millions of contracts covered, the consumer and home warranty markets are a logical extension for us.”