Toco Warranty wins the Grand Stevie, the highest honor offered at the Stevie Awards for Sales and Customer Service

Toco Warranty wins the highest award at the Stevie Awards, including awards in Customer Service, Training, Sales, Business Development, and more.

HOUSTON, TX, USA, April 17, 2024 /EINPresswire.com/ -- Toco Warranty impressed judges of the Stevie Awards for Sales and Customer Service, gaining enough points to be recognized as Grand Stevie winner, the highest award offered by the Stevie's. Toco also added an impressive 9 awards to their trophy case for honors in Customer Service, Employee Training or Coaching, and Business Development. Since 2021, Toco has accumulated honors such as the Stevie Awards (21) and the Titan Business Awards (19), cementing Toco as the "Highest Rated Provider" of vehicle service contracts, industry-wide.

The Stevie Awards for Sales & Customer Service are the world’s top honors for customer service, contact center, business development and sales professionals. The Stevie Awards organizes nine of the world’s leading business awards programs, also including the prestigious American Business Awards^® and International Business Awards^®. Winners were announced during a gala event attended by more than 400 professionals from around the world at the Bellagio in Las Vegas, Nevada on Friday, April 12.

The 10 most-honored organizations in the 2024 Stevie Awards for Sales & Customer Service received Grand (“best in show”) Stevie Award trophies. Nominees were not able to apply for Grand Stevie Awards directly. Winners were determined by a points system based on the total number of awards won, as well as having the highest average score in selected categories.

More than 2,300 nominations from organizations of all sizes and in virtually every industry, in 44 nations and territories, were considered in this year’s competition. Winners were determined by the average scores of more than 200 professionals worldwide on seven specialized judging committees. Entries were considered in more than 90 categories for customer service and contact center achievements, including Contact Center of the Year, Award for Innovation in Customer Service, and Customer Service Department of the Year; more than 60 categories for sales and business development achievements, ranging from Senior Sales Executive of the Year to Sales Training or Business Development Executive of the Year to Sales Department of the Year; and categories to recognize new products, services, and solution providers.

“The high scores given the winning nominations in this year’s competition are evidence of the high levels of achievement portrayed in them,” said Stevie Awards president Maggie Miller. “We join with the judges and all members of the Stevie Awards community in congratulating and celebrating the winners for their

One of Toco Warranty's notable Gold trophies was in the Business Development category for its "Toco At Work" (TAW) employee benefit program. TAW is available to employees at sponsoring companies. Developing a benefit plan that affordably meets the needs of a diverse workforce is a significant challenge for Human Resource teams nationwide. TAW is being recognized as a key part of a well rounded corporate financial wellness program. Vehicle breakdown expenses can cost thousands of dollars, and recent studies indicate car repair costs are now the #1 financial concern in the US, outpacing healthcare bills, food, and housing costs. With car repair cost inflation running at 17% annually, companies are racing to add TAW to their benefit package.

“Car troubles are routinely one of the top reasons why employees call out of work,” states Paul McGee, EVP of Toco Warranty. “When employees miss work, they cost the company money, increase stress amongst employees, and reduce the customer experience. Our goal with Toco At Work was to provide employers a new benefit for their needs, while also preventing employees from experiencing expensive, unexpected, and frustrating vehicle repair costs."

Toco At Work also helps employers target employee recruitment & retention, known pain points for any Human Resource director or employer. Employee attrition in the 2023 US and Canada Turnover Survey, produced by Mercer, states “The Average turnover rate among US businesses between 2022 and 2023 was 17.3%”. Replacing employees is estimated to cost from 50% to 200% times the employee’s annual salary.

The direct-to-consumer market for vehicle service contracts (VSCs) is the fastest-growing segment of the $97 billion automotive F&I industry, growing at 12.3%2 compared to 3.6% for the total industry. The market opportunity is significant as 55% of vehicles on the road under 16 years old do not have a VSC. The consumer price index claims that car repairs are up almost 20% in the past year triggered by supply-chain issues, newer technology, fewer technicians, and longer vehicle ownership.

Details about the Stevie Awards for Sales & Customer Service and the list of Stevie winners in all categories are available at www.StevieAwards.com/Sales. Nominations for the 2025 competition will be accepted starting this July.

About Toco Warranty
Founded in 2012 Toco Warranty is the highest overall-rated provider of Vehicle Service Contracts (VSC) as reported by the Better Business Bureau, Consumer Affairs, Trustpilot, and Google. Toco originated the month-to-month subscription version of comprehensive and simple-to-use vehicle repair. In 2019, Toco Warranty expanded its offering to include the first and only vehicle service plan offered directly to employers as an employee benefit program. Backed by A-rated insurance carrier, AmTrust Financial, Toco offers vehicle service contracts nationwide, as well as mechanical breakdown insurance for California residents. Toco’s plans cover parts for a car’s engine, transmission, drive axle, electrical, cooling system, AC, fuel system, and more. Toco’s dedication to putting customers first is supported by the Ethos Council, which was designed to encourage transparency and ethical practices across the company and industry.

About The Stevie^® Awards
Stevie Awards are conferred in nine programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, the Middle East & North Africa Stevie Awards, The American Business Awards^®, The International Business Awards^®, the Stevie Awards for Great Employers, the Stevie Awards for Sales & Customer Service, the new Stevie Awards for Technology Excellence, and the Stevie Awards for Women in Business. Stevie Awards competitions receive more than 12,000 entries each year from organizations in more than 70 nations. More than 1,000 professionals around the world participate in the Stevie Awards judging process each year. Honoring organizations of all types and sizes and the people behind them, the Stevie's recognize outstanding performances in the workplace worldwide.

Paul McGee
Toco Warranty
info@tocowarranty.com
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