Presentation on theme: "The New Extended Warranty System"— Presentation transcript:
1 The New Extended Warranty System Tavant Warranty Management System (TWMS)Ali Isham – Channel Communications Mgr.Dennis Carey – Extended WarrantyWho is Tavant? Company who developed the tool (just as Office is made by Microsoft).Tavant is not a 3rd party warranty administrator, but rather a software vendorTavant has developed warranty systems for IR since the early 2000s and IR is invested in the Tavant business - IR has 19.5% equity in Tavant (part of the family)
2 TWMS - The Next Generation in Why a new EW System?Current System OutdatedAdapt to Changing Business EnvironmentOpportunity to ImproveChoices / FlexibilityFunctionalityFinal push towards paperlessOnly 10-12% currently using paperAlign with Ingersoll Rand EnterpriseTime to make a change as our current system is 20 years old and outdatedThe new system creates more flexibility that will allow us to keep up with the changing business environmentThe system will also allow you more Choices, Flexibility and Functionality in the futureTWMS - The Next Generation inWarranty Management
3 TWMS: Dealer Benefits Modify Agreements Online Claim Favorites Name & AddressOwnership TransferSystem maintains audit trailFavoritesSave submitted Applications for re-useOnline ClaimPre-Authorization processUpload & Attach required documentsInspection reportsService TicketsParts InvoicesWorks anywhere you have an internet connection!Modify agreements – you will be able to initiate the modification of an agreement through the Tavant system rather than you (or the homeowner) calling the Extended Warranty Dept. You will also be able to initiate the process for ownership transfers. Having this capability helps you serve your customers better.Favorites will allow you to save submitted applications for re-use – so if you only have two types of warranty coverage that you offer homeowners, you can place them in favorites so that you can quickly access them without searching through a long list of options each time.Currently all claim pre-authorizations are done via phone - Online pre-authorization will allow approvals within 1 business dayThe new system will allow you to upload and attach required documents rather than faxing them – this will help they are received and reduce follow-up with the Extended Warranty Dept.If you have a mobile device/laptop, you can access the Tavant system while you are away from your dealership if you ever need to do so. All of this will reduce time and effort and help you work more efficientlyReduce Time and Effort!
4 TWMS: Profiles and System Options Can specify EW Administrator informationContact InfoInformation Distribution Method ( or mail)How often to receive new EW contractsSystem OptionsLoss Ratio (previously known as DPG)Labor RateServicing and Installation RatioPerformance InformationCustomer Address BookConsumer InformationWith TWMS, you will have the following new features available to you:Contact Info – you will have the ability to specify Extended Warranty admin informationSystem Options – you can determine how you would like to receive information from usPerformance Information - DPG (Dealer Performance Grade) is going away and going to be replaced with Loss Ratio. The Loss Ratio is actual claims divided by expected claims. Labor Rates will now be visible and you will be able to see servicing and installation ratios. A servicing ratio is the percent of agreementServicing Ratio – Percent of agreements where the dealer is the servicer of record. Installation Ratio is the percent of agreements which the dealer is the servicer of recordInstallation Ratio – Percent of agreement on which the dealer is the installer of recordAddress book – will include all customers from expired/current contractsStreamline Operations
5 Dealers register one of two rate types Time & Material (T&M)Same as current systemClaims entered on T&M basisFlat (Default)Default rate is the rate that drives your flat-rate bookSpecify Drive-up chargeAbility to upload your flat-rate book entriesFlat-rate book entries are used for claims reimbursement if coverage is for both Parts & LaborDrive-up charge is new functionality
6 Submitting Application for EW Coverage Begin application from a Coverage TemplateSimilar to current TAYWAR productsCoverage information is pre-definedApplication (Residential or Commercial)EnvironmentEquipment typesCoverage Length (in months)Coverage Start (in days from application receipt)Markup TypeTravelDiagnosticsCoverage Templates are similar to TAYWAR products .Currently we have 3 warranty labor options – 1, 2, & 3 (no longer exist in TWMS)In TWMS, the part markup schedule will be Basic or Premium (Basic equivalent to labor option 1; Premium equivalent to labor options 2 & 3).Equivalent to current Labor OptionsPre-defined coverage
8 Two-phase Implementation January - March 2011Training & Setup phase:Dealer training sessionsDealers may register new labor rates (if needed)Dealer admin grants access to other users in their companyCurrent EW system shutdown effective March 11thGWD will provide new price booksApril 2011TWMS Go-live (4/4):Everyone will switch to TWMS at same timeAll functionality operationalApplicationsClaimsModificationsDealers should hold any new applications and claims until April 4th and submit them via TWMS.
9 GWD Tavant Training Schedule Live Meeting Training GWDRecordings AvailableVisit website for informationTraining aids and user guides available on ComfortSite
10 Your Support is Critical What We Need From YouComplete initial setup processAttend training sessionsExtended Warranty department offering Live Meeting training sessions on all dealer functionalityProvide us with your feedbackContact Territory Manager with Questions/ConcernsYour Support is Criticalto a Successful Launch!