In 2019, ELEMENT and Intec AG - Germany's leading experts for warranty services - started a strategic partnership. The first product to be developed is a digital repair cost insurance for used car dealers, available online via the "Carbee" service platform.
The successful cooperation was extended in 2020 with a new digital repair cost insurance, called carGO!, for private customers. The insurance solution now makes it possible to insure private vehicles against expenses due to previous wear and tear after the manufacturer's warranty has expired.
Both insurance solutions are available in different tariffs and thus offer more flexibility than conventional warranty services. As a nice side effect, the simple administration and dynamic pricing increase the dealers' customer loyalty.
"Used cars have many advantages, however there are some financial pitfalls to consider, such as previous wear and tear. This is exactly where our warranty solutions come in and provide financial security for cardealers and buyers alike. We are sure, that with ELEMENT's digital insurance solutions, we are optimally positioned for the future."
Established in 1974, Intec AG is engaged in the distribution of service products in the warranty area of motor vehicles.
Success factors are the close relationship to car dealers, the fast and easy support in case of damage and the personal commitment of the company for the customers.
For more than 45 years, the family-run company guaranties the highest level of safety when buying a car. Simple. Fast. Reliable.
Additional digital insurance policies in the mobility sector, here as guarantee solutions for used cars, close the gaps in conventional comprehensive auto insurance. The product solutions are tailored to meet specific requirements of end customers; hence, they enable enterprises to react to new trends in the market.
Fully digital insurance products can be effortlessly integrated into the providers' product portfolio - precisely built to the needs and target groups of different commercial sectors.
Changing to digital products pays off in many ways: Digital and customisable insurance solutions not only set new market standards, but also open up new ways to reach a larger target group.
Maximum protection for used cars
Cost for spare parts and labor are covered in regard to repairs
Fast payout – usually one day after the claim was made