CALGARY, Alberta, May 09, 2018 (GLOBE NEWSWIRE) -- Calgary entrepreneur, Joe McBurney, walked away from a successful career to change perceptions around automotive warranties. Joe McBurney has launched Obvi Inc., which provides simple, clearly written and easy to understand extended automotive warranty and gap insurance that can be purchased directly online for a fraction of the price available through other providers.
“The extended automotive warranty industry has been stagnant for many years and consumers have become leery about these products,” explained Obvi President, Joe McBurney. “We saw a gap in the market and an opportunity to innovate. Our online platform provides a very cost effective extended auto warranty option that is clearly written and easy to understand.”
The Obvi policy is a standard 7-year/175,000 km term for all vehicles and it includes Canada and U.S. wide repair coverage, car rental and travel expense reimbursement. The policy also allows coverage to be transferred between owners upon resale or trade either through private sales or through automotive dealerships. Obvi was able to provide significant cost savings by cutting sales commissions, dealer fees and offering the product directly from the underwriter to the consumer.
“Both from a price and product perspective, the feedback we’ve received is ‘this is too good to be true,’” McBurney said. “The reality is that a lack of competition and innovation in this space has resulted in people overpaying for these products for far too long. I saw how technology was improving so many different aspects of the insurance industry around the globe and thought that someone should step up and do something in the warranty and GAP market, so I did.”
The retail world has changed rapidly over the past 10 years, and now, almost anything from A to Z can be purchased online. It is Obvi’s goal to leverage this reality with a simple online platform and a policy that clearly lists what is not covered – simply put – if it is not explicitly excluded, it is covered.
“It’s about trust. People are leery of insurance and warranties. We want to create trust with our customers. We are with you every step of the way,” McBurney said, adding, “we sell you the product, and you deal with us directly for claims.”
For more information about Obvi Insurance visit: obvi.ca.
A video accompanying this release is available at:
http://resource.globenewswire.com/Resource/Download/eeb325c9-b794-47c4-98b8-51ee14769103