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News & Events
BATON ROUGE, La. – July 20, 2009
Wolters Kluwer Financial Services’ AppOne Offers Penn Warranty Service Contracts to its Auto Dealer Network
Penn Warranty Now Part of AppOne’s Online Product Marketplace
BATON ROUGE, La. – July 20, 2009 –
AppOne, a part of Wolters
Kluwer Financial Services, announced today that it will provide its
auto dealer clients with access to The Penn Warranty Corporation products through
AppOne’s online Product
Marketplace. Penn Warranty provides service contracts to used car dealers
across the United States.
Through this new relationship, dealers using the AppOne platform will have the ability
to sell Penn Warranty service plans, which offer a wide range of coverage options.
All of the forms necessary to complete the sale of a Penn Warranty service contract
will be built into the AppOne system. Additionally, AppOne will remit warranty premiums
for vehicles financed through its portal directly to Penn Warranty.
For AppOne’s dealer clients, this simplifies the process of establishing a warranty
since they have easy access to the forms they need and no longer have to worry about
making separate premium remittances to a warranty provider. It also allows dealers
to offer an added service to their customers because car buyers’ warranty coverage
goes into effect quickly when they purchase a vehicle.
Lenders who have seen some warranty premiums become delinquent in the tough economy
will also benefit since AppOne can control the distribution of funds at closing
and make timely and accurate payment of all warranty premiums directly to the warranty
plan provider.
“By integrating Penn Warranty products with the AppOne platform, we offer our dealers
another convenient way to serve their customers, while providing another layer of
protection for lenders, which is critical in the current marketplace,” said Lee
Domingue, CEO of Indirect Lending at Wolters Kluwer Financial Services.
“AppOne’s automated platform makes it easy for us to connect with more dealers and
mitigate operational risk,” said Jude Tuma, president at Penn Warranty. “This allows
us to continue to expand our reach and provide warranty protection to more consumers.”
About Wolters Kluwer Financial Services
Wolters
Kluwer Financial Services provides best-in-class compliance, content, and
technology solutions and services that help financial organizations manage risk
and improve efficiency and effectiveness across their enterprise. The organization’s
prominent brands include Bankers Systems, VMP® Mortgage Solutions, PCi, AppOne®,
GainsKeeper®, Capital Changes, NILS, AuthenticWeb™ and Uniform Forms™. Wolters Kluwer
Financial Services is part of Wolters Kluwer, a leading global information services and
publishing company with annual revenues of (2008) €3.4 billion ($4.9 billion) and
approximately 20,000 employees worldwide. Please visit our Web site for more
information.
About Penn Warranty
For more than two decades, Penn Warranty has been the trusted provider of vehicle
service contracts to car buying customers of independent dealerships. As a leading
innovator in the service contract industry, Penn Warranty has created several successful
programs that address the unique needs of independent dealers and their customers.
These programs enable independent dealers to maximize their profits without sacrificing
value and coverage for their customers.
As one of the oldest auto service contract companies in the United States, Penn
Warranty has served as the trusted and reliable partner to more than 20,000 independent
dealers. For more information about Penn Warranty, or to become a Penn Warranty
dealer, please visit www.PennWarrantyCorp.com, or call 800-356-9441.
About Geminus Capital Partners, LLC
Based in Philadelphia, PA, Geminus Capital Partners is a unique private equity firm
which buys, actively operates, and grows successful companies by infusing capital
and management talent. Geminus Capital has a particular focus on companies in the
automotive industry. Penn Warranty is a portfolio company of Geminus Capital. For
more information about Geminus Capital, visit www.GeminusCapital.com.
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