GapCorp, Volkswagen Financial Services ink deal on Extended Warranty across the Middle East
GapCorp, recognized regionally as the largest international and local extended warranty provider, has signed an agreement with Volkswagen Financial Services – a wholly-owned subsidiary of Volkswagen Group – to provide Third Party Administration and Claims Handling for Extended Warranty across the Middle East.
With this agreement, the only Volkswagen approved Extended Warranty will launch across the region, covering all mechanical and electrical components for an unlimited mileage up to five years, thereby offering Volkswagen customers an enhanced residual value on their vehicles, while controlling their cost of ownership.
In his comments on the Agreement, Martin Warburton, Group General Manager and Vice-Chairman of GapCorp, said: "We are extremely privileged to enter into this agreement with Volkswagen Financial Services on TPA services and Claims Handling across GCC and Levant. This deal marks a significant step in our journey to offer the best services to our customers, thus reinforcing our commitment to their needs in line with the market demands."
He added: "The deal with VW Financial Services will go a long way in providing the end-buyers with a better resale value."
GapCorp, a global leader in extended warranty products, provides a basket of products and services in each of the GCC markets, Europe, South East Asia and the Americas. The Extended Warranty will be a duplicate of the manufacturers' warranty for electrical and mechanical components and will cover the vehicles during the most crucial time required – after the expiry of the original manufacturers' warranty.
The company also offers the F&I platform services - a mechanism that provides auto dealers with a platform to manage the needs of their customers by creating a one-stop-shop for the consumer at the time of purchasing a vehicle.
GapCorp already have a joint venture with Zuellig Group – one of the largest privately-held companies in South East Asia covering Thailand, Philippines, Singapore, Hong Kong, Malaysia and Indonesia under Asia Warranty Services and in the Gulf Council Countries under GAPGULF and in Europe through its European arm, the UK-based Euro Warranty and in the Americas under Latin America Extended Services.
GapCorp subsidiary Latin American Extended Services has a joint venture with Mexican conglomerate Qualitas Insurance and Mexbrit in North America.
The company is also a global implementer for Nissan and Infiniti value added products such as Extended Warranty, GAP products and Road Side Assistance. Apart from VW Financial Services, GapCorp has a comprehensive client list such as BMW Financial Services, DAIMLER (Mercedes) in KSA, Lexus, Toyota, Mazda, Mitsubishi, Orix Leasing, KIA and Hyundai, and now many more.