Victor Insurance, a global managing general underwriter managing over $4 billion in premium, announced Wednesday the debut of Victor Extended Warranty, a new international service aimed at underwriting solutions for insurers and reinsurers. According to a news release, this initiative seeks to address a growing demand for reliable warranty options in a market increasingly influenced by complex technological advancements.
The new offering will encompass underwriting services for a diverse range of extended warranty solutions. These include coverage for original equipment manufacturers (OEMs) of internal combustion engine (ICE) and electric vehicles, motorbikes, scooters, light commercial vehicles (LCVs), vans, trucks, and tire protection.
It will provide fee-based services such as the development and annual review of underwriting and claims management services. These services are designed to assist insurers and reinsurers in launching their own extended warranty solutions, leveraging data-driven insights to manage risk across the product lifecycle. The company said this new venture builds on Victor’s existing automotive-related insurance programs, including the Victor Insurance Italy’s Auto Dealers program.
Accompanying the launch, Victor Insurance has named Sunjay Patel as managing director of the newly established Victor Extended Warranty team. In his new role, Patel will oversee the overall management and strategic direction of the new offering. He brings 25 years of experience in the insurance sector, most recently serving 14 years as head of underwriting at White Oak Underwriting Agency Limited. Based in London, Patel will lead a global team of specialists with expertise in extended warranty underwriting and claims.
“By providing tailored warranty underwriting and claims expertise, and utilizing strong data and analytics to support Victor Extended Warranty, our insurer and reinsurer partners around the world are well-positioned to deliver exceptional value to their clients,” Patel stated. “I look forward to working with the talented team at Victor to address the increasingly complex needs of consumers in an era of rapid technological advancement.”
Victor Insurance, with over 65 years of experience, operates in the US, Canada, UK, Netherlands, Italy, Germany, and Australia.
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