Scottsdale, Ariz. — 2017 was a truly exceptional year for CNA National Warranty Corporation (CNAN). During the past 12 months, the company notched numerous achievements, including the introduction of its most robust vehicle service contract program to date: Z2 Series.
"Since 1982, CNA National has been at the leading edge of service and product excellence," said Alan Miller, senior vice president of sales. "Z2, which launched last April, represents the top tier of vehicle service contracts. With comprehensive benefits and deductibles that encourage customer loyalty, our VSC program will both help a dealer's customer satisfaction and ensure our continued position as the industry leader."
CNAN also reached several major milestones during 2017:
- Passed the mark of having more than four million vehicle service contracts in force.
- Exceeded payment of $3 billion for claims across all product lines since the company's founding. The majority of this amount was paid to its participating dealers on behalf of customers who returned to the dealerships where they purchased their service contracts for covered repairs.
- Handled over 1.4 million calls and one million contract transactions, enabling the payment of more than 400,000 claims.
The company also positioned itself for further growth by bringing the following key executives on board:
- Jim Lee, chief information officer
- Keith Mahoney, chief development officer
- Trace Thaxton, senior vice president of customer service center
- Rob Hehr, vice president of reinsurance
- Rose Larsen, vice president of product development
In addition, Mike Bacosa, a long-time employee and senior manager of the Claims Department, was promoted to vice president of claims.
During 2017, CNAN improved upon its technology by launching a new public website, as well as new portals for its agents and dealers. The company also overhauled many of the applications used by both agents and dealers to conduct business and offer CNAN products to consumers.
Throughout this year of change, CNAN continued to provide outstanding service. The company retained its A+ rating with the BBB and earned first-place Diamond Awards for "Best Service Contract Provider" and "Best Reinsurance Provider" in the 2017 Dealers' Choice Awards (DCAs). With these two most recent accolades, CNAN remains the most-awarded service contract company in the industry with a total of 22 DCAs, 16 of which are first place.
"2017 was a year of significant accomplishments across our company," says Joe Becker, president and CEO. "With the addition of many new skilled staff members, a continued winning track record, the launch of Z2, as well as advancing our technology, CNA National is poised to effectively execute our goals and meet greater success in 2018 and beyond."
About CNA National Warranty Corporation
Headquartered in Scottsdale, Arizona, CNA National is recognized as a leader in the vehicle service contract industry. The company offers a choice of reinsurance structures (both CFC and NCFC) as well as GAP waiver coverage and tire-and-wheel protection. CNAN was the first and one of only two service contract companies recognized for "Highest Overall Dealer Satisfaction" by J.D. Power and Associates* and its service contract program has had the exclusive endorsement of the American International Automobile Dealers Association (AIADA) since 1995. It is a wholly owned subsidiary of CNA, one of the nation's oldest and largest insurers with over $55 billion in assets. Learn more at CNANational.com.
*J.D. Power and Associates 2003 Dealer Service Contract Satisfaction StudySM based on 5,053 dealer evaluations, www.jdpower.com
Julie Fosgate, Julie.Fosgate@CNANational.com