Understanding the Challenges of Setting Up a Product Performance Guarantee (PPG) Program
When establishing a Product Performance Guarantee (PPG) program, it’s mission critical for an OEM manufacturer to take time for conducting the appropriate due diligence. Product Performance Guarantee (PPG) programs may seem easy and straight forward on the surface. However, there are many important details and decisions to be considered. Such as:
How to structure the Product Performance Guarantee (PPG) program’s financial risk
Self-insure or utilize a 3rd party insurer?
Understanding insurance and warranty rules and regulations
Each country or state can have different requirements for how to implement and manage these programs.
Proper development and management of terms and conditions based on local jurisdictions.
Data security management
When managing Product Performance Guarantee (PPG) programs, it often necessitates managing personally identifiable data which is again governed by strict data compliance regulations.
Effective program management
Product Performance Guarantee (PPG) programs are very complex and requires the management of several distinct elements which are normally outside the skill set or resource availability for an OEM. Including: User registration, Claims Adjudication & Handling, Settlement & Reimbursement Pay-out in local currencies, Program Risk & Performance Monitoring; as well as Global Reach and Experience.
How We Work with OEM Manufacturers
ASFALIS takes a partnership approach through open collaboration with OEM manufacturers resulting in the delivery of a complete turn-key Product Performance Guarantee (PPG) solution. Our Warranty as a Service platform provides the foundation developing a comprehensive PPG offering for our OEM partners and their products.
ASFALIS will identify a suitable A-Rated insurance carrier to fully underwrite the risk for the OEM; as well as handle all legal, compliance and program management elements on behalf of the OEM.
ASFALIS will assist in the co-development and design of a Product Performance Guarantee (PPG) program to be fully compliant in every jurisdiction globally where the OEM wishes to offer that program. This will include advising on and customizing product packaging and program Terms & Conditions to be compliant with individual local market regulations.
ASFALIS has spent many years investing and continually developing its Warranty as a Service platform which supports the delivery for successfully managing all aspects of Product Performance Guarantee (PPG) programs on behalf of our OEM partners. The turnkey workflow includes:
User Registration - Fully integrated multi-lingual Native App for customer registration.
Claims Handling - Claims portal manages the end-to-end claim process and enables efficient and timely adjudication of all claims.
Settlement - Settlement engine manages reimbursement pay outs in 193 local currencies
Program Risk - Performance monitoring mitigates program risk. The Platform provides program management by utilizing extensive analytics and real-time visibility of program performance.
Global Support - The platform provides a multi-lingual and multi-currency solution, designed to help the OEM deliver a global product set.