DALLAS--(BUSINESS WIRE)--EFG Companies, the innovator of the award-winning Hyundai Assurance program, today unveiled its Owner Essentials Home Warranty, bringing the company’s 40+ years of experience providing industry-leading consumer protection to call centers looking to generate revenue beyond pure vehicle service contract sales. The Owner Essentials Home Warranty draws on call centers’ current success of positioning the value of protecting oneself from unexpected vehicle repair bills to consumers, and enables them to capitalize on those skills through positioning affordable protection for consumers who may struggle to cover an unexpected home repair. For more information, visit: http://bit.ly/EFGHome
Sales of existing and new homes are expected to rise 7-9 percent in 2021, while prices will continue to climb 5.7 percent. Yet only 39 percent of Americans can afford an unexpected $1,000 expense. With 15 customizable options, call centers can better tailor the product to each customer’s personal needs, giving them a viable product for every customer, further increasing contract sales and revenue.
The Owner Essentials Home Warranty covers the repair or replacement of the home appliances and systems that break down most often, providing consumers with confidence that unexpected repairs will not create financial hardship.
“With the Owner Essentials Home Warranty, call centers have a better ability to motivate purchasing behavior by providing protection for the consumer’s most valuable asset – their home,” said Mark Rappaport, President, Diversified Solutions, EFG Companies. “As the pace of change continues to accelerate in the retail automotive market, the call centers which specialize in the automotive consumer protection product market need to diversify their offerings to remain competitive and profitable in the coming years.”
Over the last four years, EFG has brought its more than 40 years’ worth of experience innovating and administering consumer protection products to the home warranty space. Recently, the company was recognized with two Stevie Awards – a feature of the American Business Awards, the USA’s top business awards program – for its home warranty product administration, receiving:
- A Gold Award in Contact Center (Up to 100 Seats) recognizing EFG’s home warranty administration for maintaining EFG’s above industry standards benchmarks for speed to answer, abandonment rates, and average hold times, while also reducing the average claim cost by 26 percent.
- A Silver Award in Customer Service or Call Center Training Practice of the Year for the company’s ability to quickly pivot its home warranty call center training to a shorter, online and in-person model and ending the year outperforming industry standards as measured by BenchmarkPortal. EFG ended 2020 with the home warranty team achieving an average speed to answer of 53 seconds; an average abandonment rates of 2.96 percent, and an average hold time of only 2:02.
About EFG Companies
EFG Companies, the innovator of the award-winning Hyundai Assurance program, provides clients with more than 40 years of industry leading consumer protection programs in the automotive and residential real estate industries. Operating as an extension of its clients’ management teams, EFG consistently delivers solutions to increase client profitability, market share and market reputation, resulting in a client satisfaction Net Promoter score that is higher than national corporate leaders such as Nordstrom, USAA Banking and Insurance, Ritz Carlton, Amazon and Netflix. Learn more about EFG at: www.efgcompanies.com.