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The New Extended Warranty System

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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 Warranty Who 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 vendor Tavant 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 Current System Outdated Adapt to Changing Business Environment Opportunity to Improve Choices / Flexibility Functionality Final push towards paperless Only 10-12% currently using paper Align with Ingersoll Rand Enterprise Time to make a change as our current system is 20 years old and outdated The new system creates more flexibility that will allow us to keep up with the changing business environment The system will also allow you more Choices, Flexibility and Functionality in the future TWMS - The Next Generation in Warranty Management

3 TWMS: Dealer Benefits Modify Agreements Online Claim Favorites
Name & Address Ownership Transfer System maintains audit trail Favorites Save submitted Applications for re-use Online Claim Pre-Authorization process Upload & Attach required documents Inspection reports Service Tickets Parts Invoices Works 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 day The 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 efficiently Reduce Time and Effort!

4 TWMS: Profiles and System Options
Can specify EW Administrator information Contact Info Information Distribution Method ( or mail) How often to receive new EW contracts System Options Loss Ratio (previously known as DPG) Labor Rate Servicing and Installation Ratio Performance Information Customer Address Book Consumer Information With TWMS, you will have the following new features available to you: Contact Info – you will have the ability to specify Extended Warranty admin information System Options – you can determine how you would like to receive information from us Performance 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 agreement Servicing 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 record Installation Ratio – Percent of agreement on which the dealer is the installer of record Address book – will include all customers from expired/current contracts Streamline Operations

5 Dealers register one of two rate types
Time & Material (T&M) Same as current system Claims entered on T&M basis Flat (Default) Default rate is the rate that drives your flat-rate book Specify Drive-up charge Ability to upload your flat-rate book entries Flat-rate book entries are used for claims reimbursement if coverage is for both Parts & Labor Drive-up charge is new functionality

6 Submitting Application for EW Coverage
Begin application from a Coverage Template Similar to current TAYWAR products Coverage information is pre-defined Application (Residential or Commercial) Environment Equipment types Coverage Length (in months) Coverage Start (in days from application receipt) Markup Type Travel Diagnostics Coverage 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 Options Pre-defined coverage

7 Live Demonstration

8 Two-phase Implementation
January - March 2011 Training & Setup phase: Dealer training sessions Dealers may register new labor rates (if needed) Dealer admin grants access to other users in their company Current EW system shutdown effective March 11th GWD will provide new price books April 2011 TWMS Go-live (4/4): Everyone will switch to TWMS at same time All functionality operational Applications Claims Modifications Dealers should hold any new applications and claims until April 4th and submit them via TWMS.

9 GWD Tavant Training Schedule
Live Meeting Training GWD Recordings Available Visit website for information Training aids and user guides available on ComfortSite

10 Your Support is Critical
What We Need From You Complete initial setup process Attend training sessions Extended Warranty department offering Live Meeting training sessions on all dealer functionality Provide us with your feedback Contact Territory Manager with Questions/Concerns Your Support is Critical to a Successful Launch!

11 Thank You! Q & A

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