Offering provides unique North American insurance and obligor solutions including custom underwriting, data analytics and full compliance support
NEW YORK–(BUSINESS WIRE)–
Arch Insurance today announced its entry into the Consumer Product and Home Warranty markets. With this offering, Arch will focus on its “underwriting only” partnership approach for original equipment manufacturers (OEM), third party administrators, obligors and insurtechs by providing underwriting, compliance, data analytics and nationwide obligor access.
The new programs are supported by the Arch Warranty and Lender Solutions (AWLS) team, which is based in Kansas City, Missouri, and specializes in underwriting consumer warranty, automotive finance and insurance (F&I), and lender-placed insurance. The offering provides best-in-class solutions for products such as consumer electronics, appliances, mobile, furniture, HVAC and home warranty.
“We knew that Arch could be a unique solution provider in the Consumer and Home Warranty markets,” said Emilee Kuhn, Executive Vice President of AWLS. “So we started building the pipes and plumbing necessary to support our client partners. That meant having a 50-state obligor solution, leading back-end data analytics capabilities, and processes all ready to go. Additionally, we’re unique in our ability to seamlessly support both U.S. and Canadian business for partners needing a comprehensive North American solution.”
Client partners can create custom solutions for Retail and OEM limited warranty and service contract programs. Arch services include use of proprietary predictive data analytic platforms, state and federal compliance support and superior localized customer service.
“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,” said Brian Olson, Vice President of AWLS. “Arch’s world-class team of industry and subject-matter experts brings next-level insight and expertise into underwriting, compliance and data analytics.”
Sales inquiries should be directed to Brian Olson at [email protected] or 785.917.9834.
About Arch Insurance North America
Arch Insurance North America, part of Arch Capital Group Ltd., includes Arch’s insurance operations in the United States and Canada.
About Arch Capital Group Ltd.
Arch Capital Group Ltd., a Bermuda-based company with approximately $15.2 billion in capital at Sept. 30, 2020, provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries.
Cautionary Note Regarding Forward-Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. This release or any other written or oral statements made by or on behalf of Arch Capital Group Ltd. and its subsidiaries may include forward-looking statements, which reflect our current views with respect to future events and financial performance. All statements other than statements of historical fact included in or incorporated by reference in this release are forward-looking statements.
Forward-looking statements can generally be identified by the use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe” or “continue” or their negative or variations or similar terminology. Forward-looking statements involve our current assessment of risks and uncertainties. Actual events and results may differ materially from those expressed or implied in these statements. A non-exclusive list of the important factors that could cause actual results to differ materially from those in such forward-looking statements includes the following: adverse general economic and market conditions; increased competition; pricing and policy term trends; fluctuations in the actions of rating agencies and the Company’s ability to maintain and improve its ratings; investment performance; the loss of key personnel; the adequacy of the Company’s loss reserves, severity and/or frequency of losses, greater than expected loss ratios and adverse development on claim and/or claim expense liabilities; greater frequency or severity of unpredictable natural and man-made catastrophic events, including pandemics such as COVID-19; the impact of acts of terrorism and acts of war; changes in regulations and/or tax laws in the United States or elsewhere; the Company’s ability to successfully integrate, establish and maintain operating procedures as well as consummate acquisitions and integrate the businesses the Company has acquired or may acquire into the existing operations; changes in accounting principles or policies; material differences between actual and expected assessments for guaranty funds and mandatory pooling arrangements; availability and cost to the Company of reinsurance to manage the Company’s gross and net exposures; the failure of others to meet their obligations to the Company; changes in the method for determining the London Inter-bank Offered Rate (“LIBOR”) and the potential replacement of LIBOR and other factors identified in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”).
The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with other cautionary statements that are included herein or elsewhere. All subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Arch Capital Services LLC
Source: Arch Capital Group Ltd.