Scottsdale, AZ, August 25, 2017 CNA National recently exceeded $3 billion paid for claims across all product lines. The majority of this amount was paid to the company's participating dealers on behalf of customers who returned to the dealerships where they purchased their service contracts for covered repairs.
"Passing this $3 billion mark is a testament to our fast, hassle-free claims process," said Joe Becker, president and chief executive officer. "We've seen tremendous growth and changes over the past 35 years. Although we have developed into one of the largest service contract companies in the industry, we are still committed to our founding philosophy of being the best one in the industry. Customer service has been and always will be the cornerstone of our values."
Since its founding in 1982, CNA National has set a new standard for claims excellence, as well as defined what it means to work with dealerships as an integral part of their business strategy, not just an F&I provider. One way the company has done this is by designing its contracts with an option for a "disappearing deductible" that encourages customers to return to the selling dealership for repairs.
"The fact that over half of the $3 billion was paid to selling dealers demonstrates our commitment to helping our clients retain customers," said Alan Miller, senior vice president of sales. "We are grateful to our agents, dealers and staff, who all contributed to helping us reach this milestone."
About CNA National Warranty
Founded in 1982 and 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 coverage and tire-and-wheel protection. CNAN was the first service contract company recognized for "Highest Overall Dealer Satisfaction" by J.D. Power and Associates* and has been named "Best Provider" in Auto Dealer Monthly's Dealers' Choice Awards for ten consecutive years (2005-2010, 2012-2014 for service contracts and 2011-2013 for reinsurance). CNAN's 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, 480-941-1626 x770