GAPA Publishes New Minimum Standards to Drive Efficiencies

Members of the Guaranteed Asset Protection Alliance (GAPA), along with their peers in the Service Contract Industry Council (SCIC) and the Motor Vehicle Protection Products Association (MVPPA) recently approved new minimum standards applicable to product refunds and forms.

In the fall of 2023, GAPA, SCIC and MVPPA embarked on a mission to enhance overall industry compliance to maximize positive outcomes for consumers. One strategy was to identify opportunities to enhance process efficiency for Voluntary Protection Products (VPPs) such as GAP, car service contracts (aka, extended warranties) and other motor vehicle protection products like key fob replacement, paintless dent repair, windshield repair or replacement, tire & wheel protection, appearance care, and vehicle theft protection.

Specifically, Minimum Standards for Refund Quote Portals and Forms Databases were developed and recently approved as official external policy documents for the three trade associations. Developed with input from lenders and providers alike, these new standards are meant to communicate necessary requirements to software developers and systems vendors. While the three trade associations do not actively endorse or otherwise qualify platforms against these new standards, the trade associations strongly encourage software providers and vendors in the market to align their systems to these new minimum requirements.

An industry that can leverage common, consistent processes for consumer refunds and forms management helps drives efficiencies – ultimately to the benefit of consumers.