Insurer Mapfre Assistance has launched a warranty business in the UK under the Mapfre Warranty brand.
Headed by Dennis Foley, the business aims to become a significant player in the UK market and will sit alongside Mapfre Abraxas, its GAP insurance business at its Bristol headquarters.
The business will utilise the firm’s existing underwriting and claims operation in Bristol, and is in the process of recruiting a field-based account management team to support its customers across the UK.
It aims to provide transparent products that people can trust and a level of customer service that is unrivalled in the industry.
Foley said: “The cornerstone of Mapfre Warranty's philosophy will be about supporting our customers as much as possible and making the execution of the warranty as easy as we can.
"We have been working in consultation with dealers to develop a product they can trust, that their customers will like, and that makes the sales process as easy as possible.
“What we have found in our discussions with car dealers and manufacturers, insurance providers, brokers and customers is that they want to see more openness and transparency in warranty products, and evidence of the value of the product.
"We aim to provide total clarity about what we cover to make it easier for our customers to build trust with theirs, and avoid surprises for the customer in the event that they need to make a claim.”