CHICAGO — Virginia Surety Company Inc. (VSC), a subsidiary of The Warranty Group Inc., formed an agreement to provide home and appliance warranties, identity theft protection and travel benefits to Individual Assurance Company (IAC) as an expansion of VSC’s financial institution offerings.
Mike Frosch, senior vice president of VSC, said, “IAC is recognized as an industry leader in delivering fee-income insurance and debt-protection products to financial institutions through its unique FourPoint technology solution. VSC’s extensive product offerings and collaborative program-development approach assists clients in driving acquisition, retention and revenue-generation efforts. Our combined partnership provides a turnkey solution to meet the needs of clients in the financial services industry during these challenging times.”
According to Mike Strickland, president of IAC, “The collaboration between our two companies will offer our partners new and exciting solutions. Our financial institutions are seeking innovative ways to help their customers when the unexpected financial crisis occurs. VSC and IAC are pleased to be able to offer these valuable solutions.”
Both VSC and IAC have deep expertise in assisting financial institutions with customer-loyalty and brand-building programs.