Feature in Warranty Week: Extended Protection Plans
Jimmy Bynum, Founder and CEO of Alexander & Preston, was featured in Warranty Week with an article on Extended Protection Plans. Learn more about our extended protection plans which can increase resale value, raise customer loyalty, boost uptime, and lower operating costs. Read below for an excerpt from the article:
Any consumer who has purchased an electronic device — whether it is a television, a refrigerator, or even a car — will hear a sales pitch to purchase an extended warranty on the product. This warranty may cover parts and labor for a designated period of time ranging from several months to several years. Such extended warranties are commonplace for retail consumer products.
On the commercial side, extended protection plans provide coverage and reimbursement for failures due to defects in material and workmanship beyond the standard warranty. Regardless of the value you place in extended warranties for consumer products, business-to-business extended protection plans, when fully optimized, can increase company profits and strengthen customer loyalty.
About Alexander & Preston
Alexander & Preston is a leading extended protection plan service provider offering specialized risk management solutions to manufacturers, distributors and dealers of commercial and industrial products. Alexander &Preston partners with companies using enhanced analytics to calculate risk and quantify quality and reliability issues. By implementing extended protection plans and alternative forms of risk management, including captive insurance entities, Alexander & Preston drives value across the product life cycle. Change what you think is working for you at alexanderpreston.com.