AUL CORP SURPASSES $1 BILLION IN CLAIMS PAID
(Napa, CA, February 22, 2022) – AUL Corp. (AUL), one of the nation’s leading automotive Finance & Insurance (F&I) providers, just surpassed $1 billion in claims paid, announced AUL President and CEO, Jimmy Atkinson. In 2019, AUL expanded upon its leading vehicle service contract (VSC) offerings with the addition of GAP insurance, EV battery coverage, auto technology coverage, and a full suite of ancillary F&I products – a strategic decision that has led to record growth. Since April 2019, the firm has paid out more than $1.7 million in GAP claims alone. And AUL’s overall revenues in 2021 were up 39% over 2020 and more than 70% over 2019.
“When we made the decision to grow beyond our VSC base, we knew that every policy had to deliver the same solid coverage and superior customer service that our partners and customers have come to expect,” stated Atkinson. “More importantly, we needed policies that would cover the emerging battery electric vehicles and the advanced technology systems found on all newer cars,” he added.
AUL recently opened a regional office in Denver, CO, the first outside its headquarters in Napa, CA, to help manage the increased business. Denver’s central location allows AUL to better support customers and process claims across all time zones.
In addition to AUL’s newer offerings, much of the firm’s recent success is due to the introduction of options for unlimited time terms, ensuring customers receive the full value of their policies. No longer will a contract expire due to too much time, while a vehicle sits in a garage due to the pandemic’s restrictions.
“One thing we learned in talking with our agents, dealers and customers, was that policies with limits on mileage and terms would expire prior to the full benefit being realized,” added Jason Garner, AUL’s SVP of Strategy Product Development. “With our new unlimited options, customers get to decide how long their coverage lasts, and have the peace of mind that systems not subject to road wear and tear will be covered for the duration,” he added.
AUL Corp is one of the nation’s leading F&I providers, selling a full suite of automotive protection policies though a national network of dealers, agents, and financial institutions. AUL’s products include vehicle service contracts, extended warranties, technology systems coverage, electric vehicle coverage, GAP insurance, theft protection, tire and wheel protection, key replacement, roadside assistance, scratch repair, pre-paid maintenance packages, and more.