Stay Secure the Smart Way
Established in 2013, Warranty Smart is one of Malaysia’s first and leading providers of vehicle warranties, specialising in mechanical breakdowns for vehicles of up to 10 years of age. Warranty Smart provides an additional layer of coverage beyond the standard manufacturer’s warranty, in hopes that everyone will feel safe and comfortable owning a car – be it second-hand or brand-new. Headquartered in Malaysia, Warranty Smart now has sales offices in Thailand and Indonesia, with plans to further expand in Asia.
Warranty Smart began as a solution to expensive car breakdowns and a lack of security for second hand cars in the Malaysian market. Previously active in the car hobbyist circle, the director noticed a lack of affordable maintenance and replacement parts, causing complications and acting as a barrier for those interested in owning a car.
In Malaysia, a car is often considered a necessary but expensive liability. When break downs occur, many are unable to afford the repair costs, creating an even bigger problem. Broken parts or mechanical issues were often ignored, resulting in more expensive repair work or a complete and dangerous vehicle failure.
Consequently, while second hand cars were often much cheaper, many still opted for expensive new cars due to a lack of security, assuming that second-hand cars were more likely to break down. This realisation opened up a potential market for added vehicle warranties, helping not only protect the buyer, but also encouraging the sales of used cars.
What originally started as a small project between 3 people grew extensively over the years. Warranty Smart now has over 30 staff working around the clock, a headquarters in the bustling township of Petaling Jaya, and two sub offices in neighbouring Penang and Johor Bahru. The number of panel workshops also continues to grow. There are now over 100 registered and authorized workshops located throughout Malaysia, enabling a better level of service and convenience for customers.
Warranty Smart aims to become the largest extended vehicle warranty provider in Asia. We want to make vehicle warranties effortless for everyone through fast and easy claim approvals. This in turn helps propel the second-hand car industry, reducing vehicle wastage and benefitting dealers and customers alike. To us, our customers are the forefront of everything we do, and service is our priority. Our warranties are competitively priced and covers an extensive range of vehicle repairs, ensuring you are always protected – no matter where.
Most people wonder why an extended warranty is needed, but did you know – 44% of vehicles suffer a breakdown in their fourth year and beyond. Ironically, most manufacturer warranties last only 3 years, leaving most vehicles unprotected and at risk. At Warranty Smart, we have a policy suited for every budget. Choose between bronze, silver, gold or platinum. Either way, all our policies include parts and labour, all vehicle model coverage, and breakdown recovery. They can be purchased by anyone at any time; as soon as a manufacturer warranty is about to end, and even for cars that have none.
What Makes Us Different?
Unlike most extended car warranties in the market, Warranty Smart allows our policy holders to service their cars in any of their preferred workshops. Policy holders are only required to utilise our list of panel workshops during a claim. This opens up a much wider client segment as convenience and trust is an important factor for many. Additionally, our claims are also fuss-free and can be processed quickly, ensuring a smooth and seamless standard of operation.
At Warranty Smart, service is our priority. We provide dedicated Call Centres for claims and customer service support, while a 24/7 Auto Assistance handles break downs and emergencies. Other departments include an ever-growing Sales Team who are constantly in search of new opportunities, Accounts to ensure profitability and accurate sales reporting, and a specialised Inspection Team to ensure warranties are issued with minimal risks.
Clientele and Growth Prospects
At present, Warranty Smart is located in Malaysia, Thailand and Indonesia, with a client base of over 200 dealers and a revenue registration of over 500 to 600 new cars per month in each country. In 2018, Warranty Smart will not only begin operations in Indonesia, but has also begun offering vehicle warranties directly to consumers, entering a whole new market previously untouched. Additionally, there are plans to further expand throughout Asia, with various potential contracts presently in discussion.
Future plans also include an extended warranty expansion into brown and white household goods – electronics widely used in the modern-day society. Brown goods include light electrical consumer products such as radios and computers, while white goods refer to heavy items such as air conditioners and large kitchen appliances. It is in hopes that an extensive portfolio and an aggressive expansion strategy will allow Warranty Smart to eventually become the largest extended warranty specialist in Asia.
Corporate Social Responsibility (CSR) Programme
To give back to the people and country, Warranty Smart partakes in a yearly CSR event prior to Chinese New Year. The team contributes to charity by volunteering and providing donations to a number of organisations that are especially in need of funding, manual labour, and help. These organisations range from orphanages, old folks’ homes, down syndrome children, and more.
Extensive research is always done prior to each visitation, ensuring that these organisations are truly in need, and that each visit creates an impact in the lives of those involved.