Chartis Purchases Service Net

Chartis has acquired Service Net Warranty LLC. Chartis will integrate Service Net into its U.S. Warranty Division, which currently services more than 75 million active contracts. Chartis says the acquisition will enhance its insurers’ position as an underwriter of warranty business, and provide value-added services to other consumer products within the Chartis portfolio. Financial terms of the acquisition were not disclosed.

Service Net is a provider of administration, extended service programs, customer service support, service network management, claims processing services, and service contract underwriting services, says Chartis. Service Net provides warranty/extended service plan administration and services for a variety of manufacturers, retailers, buying groups and distributors, including a number of Fortune 1,000 companies.

Chartis says that a key differentiator for the company is a customer-driven focus to build programs that not only generate revenue, but also help clients build long-term customer retention and brand loyalty.