A global original equipment manufacturer (OEM) of cutting-edge, industry-leading electronics and accessories wanted to extend its relationship with its consumers, improve customer experience, and increase customer loyalty, while building additional revenue and profits for its organization. Additionally, the OEM wanted to create a program that would support and complement its corporate strategy to drive the growth of usage of its electronic devices through a commercial (B2B) channel. Understanding the complex extended warranty landscape and nuances of launching an extended warranty product through multiple channels globally, the OEM engaged with Marsh to help it navigate this complex process.
Marsh engaged with the manufacturer to understand the business and build a comprehensive solution. Using our proven methodology, Marsh was able to:
- Define the OEM’s unique business needs, goals, and opportunities.
- Conduct a large-scale competitive request for proposal, seeking solutions for multiple geographies.
- Consult in negotiations of the most favorable financial and operational structure with the chosen carrier.
- Assist with ongoing program management and consultancy.
Our guidance and solutions allowed the organization to:
- Execute on a very tight implementation timeline, ahead of the holiday selling season, launching its first extended warranty product offering.
- Negotiate a financial structure with the carrier that was commensurate with the size and scope of the client opportunity.
- Transfer risk into a parent-owned captive.
- Create and plan for the implementation of a commercial (B2B) extended warranty offering.
- Evaluate and create a roadmap for its global strategy and expansion.