Gulf Warranties launches extended warranty programme in the region

The product called Gulf Assure was unveiled at a launch seminar hosted at the Grand Hyatt hotel in Dubai on the 13th of April 2009.

The event was well attended by industry leaders and offered a promising chapter in retailing of the brown and white goods in the region.

Opening the seminar, Mr. Yassir Al Baharna, Chairman Gulf Warranties said:

"Gulf Assure brings a comprehensive product offering targeting this highly dynamic and growing industry by offering differentiated packages for the manufacturers, distributors and the retailers throughout the region. The product is specifically designed to offer complete peace of mind to the end consumer whenever they buy any product from our partners."

Unique Product Offering

Gulf Assure, the new initiative launched by Gulf Warranties provides Extended Warranty encompassing the Consumer Electronics, Home Appliances, IT, Telecom and Office & Home Automation arena.

With this initiative, Gulf Warranties has ventured into the growing consumer durables industry, wherein the products & services are suitably designed to offer complete peace of mind & longevity.

Gulf Assure is geared to cater to manufacturers for GCC wide regional extended warranty schemes, country importer/distributor programmes and large format retailers alike. It will also administer all risk-insurance or purchase protection insurance in conjunction with insurance partners.

Under the programme, Gulf Assure will reimburse the consumer for the cost of repair of the covered goods, in the event of a sudden failure, for a period of up to 2 years after expiry of the manufacturer's warranty. The reimbursement pertains to the cost of spare parts and labour charges associated with the repair.

Addressing the gathering, Mr Taha Harazy, General Manager, Gulf Warranties said: "We wish to bring about a noticeable change in the way products are packaged in the region. We are the only ISO certified company offering extended warranty products across the region and are geared up to provide value based services and products."

Since inception in 1994, over 600,000 auto warranty policies have been written and over 50 million US dollars paid out in extended warranty claims to customers in the region. With 24/7 coverage and a network across the GCC, Gulf Warranties has been constantly setting the standards of warranty services by providing innovative warranty products that add life and value to the goods thereby offering complete peace of mind.

According to Mr. Jaideep Singh, Business Unit Head, Gulf Warranties, "The industry is experiencing a double digit growth annually in the region. UAE in particular has seen new levels of retailing with large multi-brand retail format stores opening up across the country offering customers several product and service options. Looking at the market needs, Gulf Assure was conceptualized to offer a unique differentiator to our clients in this highly competitive environment."

Region's Leading Extended Warranty provider

Gulf Warranties, a leading provider of extended warranty services in the Middle East, is a joint venture between Arab Insurance Group (ARIG), Bahrain and Oman National Investment Corporation, Oman. An ISO certified company, it assures the best combination of protection, price and customer service standards.

With a track record of consistent growth, Gulf Warranties is headquartered in UAE and operate through a network of branch offices in Bahrain, Kuwait, Qatar, Oman, Saudi Arabia and Lebanon, with future plans of expanding into North Africa and the Asian subcontinent.

Regionally, Gulf Warranties provides a range of warranty products in conjunction with the leading insurance companies, Oman Insurance Company in UAE, Gulf Insurance Company in Kuwait, Bahrain Kuwait Insurance Company in Bahrain, Al Madina Gulf Insurance Company in Oman, Doha Insurance Company in Qatar and other insurance companies in respective markets, with the re-insurance support from the region's largest re-insurer, ARIG.

As the regional pioneer in extended warranty services, Gulf Warranties offers a wide range of world-class warranty products to choose from.

Products that are high value-for-money propositions, designed to give absolute peace of mind to customers.

They are products that encompass the automotive industry, both new and pre-owned cars segment as well as the dynamic consumer electronics, home appliances and IT industries.