Gulf Warranties, provider of extended warranty for motorcars in the Gulf, announced its foray into the retail sector with the launch of a new brand, Warranty Plus, aimed at individual vehicle owners. Warranty Plus, available only from Oman Insurance Company, covers mechanical and electrical breakdown of cars. Initially, the product is being offered for used-cars only, said V.R. Ajitkumar, general manager of Gulf Warranties.
Having originated from Warranty Holdings, UK Gulf Warranties has operations in all the Gulf Cooperation Council (GCC) countries. Gulf Warranties is also expanding into Lebanon, Syria and Jordan this year. Gulf Warranties had appointed 12 authorized garages to carry out pre-warranty checks on cars where necessary.
"In the first year, we expect to sell 2000 policies in the UAE itself," Ajitkumar added. "This is our first attempt in the UAE to reach the public directly. The product will target both used and new car owners. While new car warranty will be sold mainly through dealerships, used car warranty will be available 'over the counter' from various outlets."
In 1994, a joint venture between Oman National Insurance Company and Warranty Holding, UK, created a dedicated division under the name of Gulf Warranties. By partnering with other leading insurance companies, within the Arabian peninsula, Gulf Warranties offers the concept and product of extended warranty throughout the region. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
