Veritas Global Protection Highlights The Importance Of Innovation In Business

Last Updated:
November 21, 2022
Kay Nicole

A picture of a person pointing at a drawing of a lightbulb. Veritas Global Protection Highlights The Importance Of Innovation In Business

Running a business is more challenging than some people may think. Many people usually get into business thinking they can make quick cash by doing almost nothing. The truth is that running a successful business, such as Veritas Global Protection, is a lot of work, and it's easy for the company to fail. Successful companies can stagnate and fail if the owner does not take the necessary steps.

Sound financial practices, exceptional customer service, and a robust marketing strategy can help promote a business's success. Innovation is another key ingredient for success. By constantly auditing systems, products, and services by soliciting customer feedback, business owners can get the information they need to develop new products and services. The founders of Veritas Global Protection understand the role of innovation in business.

The Importance of Innovation

Innovation is the key to long-term business success. Innovation is important because:

i) It Helps a Company Grow

Without innovation, a company cannot grow. This is because the company will need help attracting new customers. As a result, the customer base will remain the same while revenues will stagnate.

The same will apply to the company profits. Anyone who wants to grow their business has to be innovative, as this is one of the only ways of attracting new customers and growing their business.

The rapid growth and success of Veritas Global Protection can be attributed to innovation. The company developed innovative vehicle protection plans that addressed the gaps in the industry.

ii) Avoid Becoming Obsolete

Innovation helps to ensure a company remains relevant. You must develop new products and services or improve your customer service to retain your customers. Otherwise, the market will consider you obsolete. Eventually, you'll have to close shop due to lack of business.

By constantly being innovative, Veritas Global Protection continuously attracts new customers and avoids obsolescence.

iii) Differentiate Yourself

Whichever industry a company is in, there is probably a lot of competition. This means that customers usually look for reasons to go to a given business rather than others. The best way for a business to differentiate itself is to offer innovative products and services.

An excellent example of innovation is the exotic and electric vehicle protection plans created by Veritas Global Protection. These unique plans made it possible for the company to stand out from the crowd.

How Veritas Global Protection Showed Innovation

 A picture of an exotic car that can be covered by a vehicle protection plan from Veritas Global Protection.

1. Simplified Contracts

When Veritas Global Protection was established, vehicle protection plans were mysterious. Many people did not see the need for a vehicle protection plan because they did not understand what they were.

Veritas created simple contracts that were written in plain language. This innovation helped customers understand and appreciate the benefits of vehicle protection plans. This is what contributed to the rapid growth of the company.

2. Exotic Plans

As noted earlier, Veritas Global Protection came up with innovative vehicle protection plans that disrupted the industry. One of them is the exotic vehicle protection plan. It is meant for high-end vehicles, such as Ferraris, Rolls Royce, Lamborghini, Bentley, and Bugatti, among others.

These vehicles are expensive, so they are not easily found on public roads. Consequently, finding an authorized service center in the country isn’t easy. Spare parts are also hard to come by.

That is why many firms do not offer vehicle protection plans for exotic cars. Veritas Global Protection offers one of the most innovative exotic plans for different types of high-end vehicles.

Three types of exotic plans exist. They include; exotic premier, exotic deluxe, and exotic preferred plan. Exotic premier offers the equivalent of bumper-to-bumper coverage for high-end foreign vehicles.

It is an exclusionary vehicle protection plan, so consumers should pay attention to the exclusions to ensure they do not get disappointed later on. The deluxe and preferred plans are inclusionary plans that only state what is covered, so consumers should read their contract before signing it.

3. Electric Plans

Vehicle protection plans for fully electric vehicles have been increasing over the years. However, Veritas Global Protection was one of the first companies to offer plans for electric vehicles. This innovation endeared the company to the public, as many people have embraced electric vehicles. The coverage available for electric vehicles is also among the best in the industry.

The electric plans offered by the company include; electric premier and premier plus, electric preferred, electric drivetrain, and electric deluxe. Customers who want bumper-to-bumper coverage for their electric vehicles can choose the electric premier or electric premier plus. Those who are only interested in covering their drivetrain can opt for the electric drivetrain plan.

4. Hassle-Free Bonus Services

Veritas Global Protection offers three free services. These are; free car rental services, roadside assistance, and towing. When a customer's vehicle breaks down, they only need to file a claim and wait for emergency roadside assistance.

The company will send a team of mechanics to the client's location to offer assistance. The company will also provide the client with a free rental car until their vehicle is ready.

It's important to note that many companies only approve the free rental car if the auto repairs are estimated to take 6 hours or longer. However, Veritas Global Protection undertakes to approve the free rental car immediately, regardless of how long the repairs will take. If a client files a claim, the company will provide a rental car for the client to use as soon as possible. Alternatively, the client can rent a car and forward the invoice to Veritas Global protection.

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