OnPoint Warranty Solutions, LLC ("OnPoint"), a rapidly growing insuretech, mobile solutions and warranty services company, is elated to announce that, with three-year revenue growth of 1,286 percent, OnPoint was named to the Inc. 5000 list, for the first time, ranked number 338 among America's Fastest-Growing Private Companies, 22nd in our industry, and 3rd in the State of Kentucky.
LOUISVILLE, Ky., Aug. 16, 2024 /PRNewswire-PRWeb/ -- This accolade follows being named to the Southeast Regional Inc. list as #9 in February 2024.The prestigious ranking provides a data-driven look at the most successful companies within the economy's most dynamic segment—its independent, entrepreneurial businesses.
Microsoft, Meta, Chobani, Under Armour, Timberland, Oracle, Patagonia, and many other household-name brands gained their first national exposure as honorees on the Inc. 5000.
"We are honored to have been named by Inc., again, as a list honoree, said Chris Smith, CEO, OnPoint Warranty Solutions.
The Inc. 5000 class of 2024 represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges.
Among this year's top 500 companies, the average median three-year revenue growth rate is 1,637 percent; OnPoint's growth rate was 1,286%. In all, this year's Inc. 5000 companies have added 874,458 jobs to the economy over the past three years.
For complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, location, and other criteria, go to www.inc.com/inc5000. All 5000 companies are featured on Inc.com starting Tuesday, August 13, and the top 500 appear in the new issue of Inc. magazine, available on newsstands beginning Tuesday, August 20.
"One of the greatest joys of my job is going through the Inc. 5000 list," says Mike Hofman, Inc., Editor-in-Chief. "To see all of the intriguing and surprising ways that companies are transforming sectors, from health care and AI to apparel and pet food, is fascinating for me as a journalist and storyteller. Congratulations to this year's honorees, as well, for growing their businesses fast despite the economic disruption we all faced over the past three years, from supply chain woes to inflation to changes in the workforce."
Chris Smith, CEO, stated, "Our team continues to work hard to create the most innovative insuretech, mobile solutions and warranty service products designed to reduce risk, increase efficiency, delight consumers, and improve our clients' bottom lines.
Our latest insuretech release includes new consumer-facing functionality, as well as Flight Path, which provides up-to-the-minute repair status to consumers and client personnel, alike. The cutting-edge tool streamlines warranty service delivery, vastly improving customer satisfaction and brand loyalty.
New improvements to our dealer module enable dealers to seamlessly sell and manage warranty sales, while providing the same real-time status information via Flight Path.
New, native dispatching and claims management modules developed using the latest in geo- and AI technology, provide OnPoint with complete control over the customer repair service experience. When combined with Flight Path, as well as our claims module, which more intelligently adjudicates claims, while also disbursing digital payments to consumers as well as service providers, OnPoint is delivering the best warranty product service experiences in the industry.
We've also recently introduced a new product model for Bounce, our screen protection product, extending coverage to include repair services in the US, while providing retailers with both prepackaged as well as digital delivery of protection plans.
fixHomz, our direct-to-consumer home warranty brand, has also now been released as a packaged and digitally deliverable service, available to retailers, eCommerce platforms and marketplaces alike. Additionally, we have also enhanced our plans, available in all 50 states, with higher deductibles, more robust coverages and transparent terms, easier for sellers and buyers to understand, and for OnPoint to administer in more homeowner-friendly ways.
We've also expanded our home warranty offerings to the automotive sector, through home warranty products designed to more closely align to automotive warranties, adding clarity and more value for buyers.
Our industry-leading Guardian Protection furniture product has been redesigned, with new coverage options and streamlined administrative functions which make it easier for buyers to file claims, and for OnPoint to say "Yes!" when they need our help.
Lastly, Property Tender, our property management product, has penetrated the property management and proptech sectors at a much faster velocity, providing property owners with efficient repair protection and improved online ratings, bolstering rental rates in an economy affected by high interest rates and pricing, as well as diminishing consumer demand", stated Chris Smith, CEO, OnPoint Warranty Solutions.
"OnPoint has also expanded its risk options for clients. We provide not only fully insured risk models, but shared risk, as well as captive services. As we continue to build innovative mobile and warranty products for our clients, while providing alternative structures that minimize risk and maximize revenue.
Continued improvement to operational processes, as well as new Service Avenger functionality, simplify selling warranties for our clients, and service requests by our contract holders and homeowners" said Rob Christian, President and Chief Risk Officer, OnPoint Warranty Solutions.
About OnPoint Warranty
OnPoint Warranty was launched in 2018 by tenured and respected experts in service, manufacturing, warranty, insuretech and logistics.
We connect brands to their customers through insuretech solutions, as well as dynamic mobile and warranty service products, designed to reduce risk, increase efficiency, delight consumers, and improve our clients' bottom lines. For more information, visit: www.onpointwarranty.com
More about Inc. and the Inc. 5000
Methodology
Companies on the 2024 Inc. 5000 are ranked according to percentage revenue growth from 2020 to 2023. To qualify, companies must have been founded and generating revenue by March 31, 2020. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2023. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2020 is $100,000; the minimum for 2023 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to four decimal places.
About Inc.
Inc. Business Media is the leading multimedia brand for entrepreneurs. Through its journalism, Inc. aims to inform, educate, and elevate the profile of our community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating our future. Inc.'s award-winning work achieves a monthly brand footprint of more than 40 million across a variety of channels, including events, print, digital, video, podcasts, newsletters, and social media. Its proprietary Inc. 5000 list, produced every year since its launch as the Inc. 100 in 1982, analyzes company data to rank the fastest-growing privately held businesses in the United States. The recognition that comes with inclusion on this and other prestigious Inc. lists, such as Female Founders and Power Partners, gives the founders of top businesses the opportunity to engage with an exclusive community of their peers, and credibility that helps them drive sales and recruit talent. For more information, visit www.inc.com
Media Contact
Jenniffer Breitenstein, OnPoint Warranty Solutions, 1 502.338.5754, [email protected], www.OnPointWarranty.com
SOURCE OnPoint Warranty Solutions
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