CHICAGO, July 17, 2017 /PRNewswire/ -- The Warranty Group, a leading global provider of warranty solutions and underwriting services, is pleased to announce the promotion of Justin Thomas to Executive Vice President of the newly established Specialty Solutions group. In this capacity, Thomas is responsible for the overall business operations and growth of this segment, including client management, client acquisition and operations. He is also responsible for the business development of Virginia Surety Company, one of The Warranty Group's wholly-owned insurance companies.
The Specialty Solution business grew out of – and will continue to include – the appliance, technology, and administration group that serves the needs of prominent OEMs, retailers, financial institutions, utilities, third-party administrators and other larger companies who are looking to increase their earnings while also strengthening brand loyalty among their customer base.
"The Specialty Solutions unit has become an incubator for innovation at The Warranty Group by focusing on creating dynamic, flexible programs that provide protection benefits and superior service levels," said Nelson Chai, Chief Executive Officer of The Warranty Group. "We are focused on working with our clients to provide the right products and Justin is the right leader to oversee this effort."
Thomas has been at the helm since 2013, and his elevation to Executive Vice President demonstrates the expanding importance of the business unit within The Warranty Group's portfolio as well as his contributions to the growth of this segment. The business unit has increased revenues by 49% during the last two years.
"We're proud of our foundation in the auto industry," explains Thomas. "and we recognize the need to provide exceptional underwriting, customized administration and consultative program management and insurance solutions across a variety of product categories outside the auto industry as well."
"The Specialty Solutions team works hand in hand with our clients to create turn-key programs to meet their retention, growth and consumer experience goals," explains Thomas. "Beyond that, we are continually evaluating how to evolve our business in order to provide these valuable services to an even broader range of verticals."
Thomas began his career in specialty insurance in 2003 and has held various roles through The Warranty Group during his tenure. In addition to his leadership role within The Warranty Group and Virginia Surety Company, Thomas serves on the Board of Directors for Virginia Surety.
About The Warranty Group: Celebrating more than 50 years of industry leadership, The Warranty Group is one of the world's premier global providers of warranty solutions and related benefits, with operations in more than 35 countries and nearly 1,700 employees. With Virginia Surety Company and London General Insurance as our wholly-owned insurance companies, The Warranty Group is a single-source solution that provides underwriting, claims administration, and marketing expertise to some of the world's leading manufacturers, distributors, and retailers of consumer goods including automobiles, homes, consumer appliances, electronics, and furniture, as well as specialty insurance products and services for financial institutions. For more information, visit www.thewarrantygroup.com.
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SOURCE The Warranty Group