Warranty and Service Contract Management: Best Practices

Course Details
Code: BGWSCA
Tuition (USD): $2,475.00 • Classroom (3 days)

Effective warranty management can have significant impact on your company's bottom-line profitability and drive competitive advantage. Whether you represent a large multinational corporation or a much smaller firm, your warranty management program is of growing importance. This course, developed by recognized experts in the discipline, introduces you to techniques that will improve the effectiveness and efficiency of your warranty management processes and includes a comprehensive discussion of the analytics that will help you manage information intelligently.

Skills Gained

  • handle claim flow and call centers
  • manage campaigns
  • file claims accurately
  • process claims
  • use analytics to identify suspect claims
  • manage supplier relationships
  • time payments
  • analyze contracts
  • drive organizational change.

Who Can Benefit

  • Those who have varying levels of experience with warranty and service-contract programs and want to learn how successful programs operate

Prerequisites

  • None

Course Details

Introduction and Overview: The Warranty Business Space

  • origins of warranty law
  • sources of warranty law and regulation
  • types of warranties
  • breach and remedies
  • disclaimers and limitations
  • litigation
  • the Warranty Maturity Model
  • warranty analytics

Customer Satisfaction

  • elements of a successful warranty program
  • warranty and the customer
  • re-establishing the relationship with dealers and customers
  • introducing the case study
  • exercises: the warranty case study

Service Contracts I: Introduction and Overview

  • overview
  • sales and marketing strategies
  • service contracts, service, and returns
  • dealing with data

Service Contracts II: Regulations and Processes

  • regulatory history
  • the NAIC Model Act
  • regulations today
  • role of the actuary and financial analyst
  • key points in claims loss forecasting

Supplier Cost Recovery and Claims Management

  • tracking service contracts and warranties
  • service and fulfillment
  • key technology drivers
  • claims cost controls
  • supplier cost recovery: the relationship
  • agreements
  • claims resolution
  • responsibilities of parties in a claims investigation
  • communication
  • dispute avoidance and resolution

Warranty Finance

  • warranty finance
  • warranties and service contracts
  • data management: best practices
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