Wolters Kluwer Financial Services’ AppOne Offers Penn Warranty Service Contracts to its Auto Dealer Network
BATON ROUGE, La.--AppOne, a part of Wolters Kluwer Financial Services, announced today that it will provide its auto dealer clients with access to The Penn Warranty Corporation products through AppOne’s online Product Marketplace. Penn Warranty provides service contracts to used car dealers across the United States.
Through this new relationship, dealers using the AppOne platform will have the ability to sell Penn Warranty service plans, which offer a wide range of coverage options. All of the forms necessary to complete the sale of a Penn Warranty service contract will be built into the AppOne system. Additionally, AppOne will remit warranty premiums for vehicles financed through its portal directly to Penn Warranty.
For AppOne’s dealer clients, this simplifies the process of establishing a warranty since they have easy access to the forms they need and no longer have to worry about making separate premium remittances to a warranty provider. It also allows dealers to offer an added service to their customers because car buyers’ warranty coverage goes into effect quickly when they purchase a vehicle.
Lenders who have seen some warranty premiums become delinquent in the tough economy will also benefit since AppOne can control the distribution of funds at closing and make timely and accurate payment of all warranty premiums directly to the warranty plan provider.
“By integrating Penn Warranty products with the AppOne platform, we offer our dealers another convenient way to serve their customers, while providing another layer of protection for lenders, which is critical in the current marketplace,” said Lee Domingue, CEO of Indirect Lending at Wolters Kluwer Financial Services.
“AppOne’s automated platform makes it easy for us to connect with more dealers and mitigate operational risk,” said Jude Tuma, president at Penn Warranty. “This allows us to continue to expand our reach and provide warranty protection to more consumers.”
About Wolters Kluwer Financial Services
Wolters Kluwer Financial Services provides best-in-class compliance, content, and technology solutions and services that help financial organizations manage risk and improve efficiency and effectiveness across their enterprise. The organization’s prominent brands include Bankers Systems, VMP® Mortgage Solutions, PCi, AppOne®, GainsKeeper®, Capital Changes, NILS, AuthenticWeb™ and Uniform Forms™. Wolters Kluwer Financial Services is part of Wolters Kluwer, a leading global information services and publishing company with annual revenues of (2008) €3.4 billion ($4.9 billion) and approximately 20,000 employees worldwide. Please visit our Web site for more information.
About Penn Warranty
For more than two decades, Penn Warranty has been the trusted provider of vehicle service contracts to car buying customers of independent dealerships. As a leading innovator in the service contract industry, Penn Warranty has created several successful programs that address the unique needs of independent dealers and their customers. These programs enable independent dealers to maximize their profits without sacrificing value and coverage for their customers.
As one of the oldest auto service contract companies in the United States, Penn Warranty has served as the trusted and reliable partner to more than 20,000 independent dealers. For more information about Penn Warranty, or to become a Penn Warranty dealer, please visit www.PennWarrantyCorp.com, or call 800-356-9441.
About Geminus Capital Partners, LLC:
Based in Philadelphia, PA, Geminus Capital Partners is a unique private equity firm which buys, actively operates, and grows successful companies by infusing capital and management talent. Geminus Capital has a particular focus on companies in the automotive industry. Penn Warranty is a portfolio company of Geminus Capital. For more information about Geminus Capital, visit www.GeminusCapital.com.