EV Insurance Company, Inc. dba OZOP Plus Enters Agreement with Cal-Tex Protective Coatings, Inc.
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Cal-Tex to White Label the Fully Charged VSC and market to their existing 4,000 Dealerships
Warwick, NY, Aug. 08, 2023 (GLOBE NEWSWIRE) -- EV Insurance Company, Inc. dba OZOP Plus, a wholly owned subsidiary of Ozop Energy Solutions, Inc. (OZSC or the “Company”), announces the execution of an Agent Agreement with Cal-Tex Protective Coatings, Inc. (“Cal-Tex”), a leading provider of environmental protection and aftermarket products to the automotive industry.
Under the agreement, Cal-Tex will white label the Royal Administration’s Fully Charged Vehicle Service Contract (“Fully Charged VSC”), incorporating their own branding. OZOP Plus will be providing the battery protection and will be ceding the battery portion of all premiums sold through Cal-Tex. Cal-Tex's version of the Fully Charged VSC will offer the same enhanced features and benefits of the Fully Charged VSC to their extensive customer base through their well-established relationships with auto dealerships and F&I personnel.
The benefits of this partnership are that Cal-Tex can immediately go to market with their branded version of the Fully Charged VSC and will also be able use Royal Administration as the Third-Party Administrator (the “TPA”) for any claims. Royal Administration provides their TPA services for processing claims through their claims center. This seamless integration of services ensures that consumers and dealerships will experience a smooth and efficient claims process, further enhancing their overall experience.
Brian Conway, CEO of OZOP Plus, stated, "We have been very impressed with the speed that Cal-Tex has shown in wanting to add an EV VSC to their portfolio. We look forward to seeing their marketing of the Fully Charged VSC through their well-established and respected agent network. Cal-Tex represents the perfect fit for the type of distribution partner OZOP seeks, as they have the necessary key relationships with car dealers and the Finance and Insurance employees of dealerships. We envision other entities to be able to utilize our comprehensive battery protection within any VSC, as we believe our white-label VSC product will be best in class and provide the most 'peace of mind' to EV purchasers."
This agreement opens new revenue opportunities for OZOP Plus, from Cal-Tex’s existing network of 4,000 automotive dealerships nationwide that currently partner with Cal-Tex. This expansion allows the Fully Charged VSC to be accessible in a total of 7,000 dealerships, consolidating the strengths of both Royal Administrations and Cal-Tex within the automotive industry.
Cal-Tex, a trusted name in the market, boasts a remarkable 40-year track record of specialization in protective coatings for vehicles at the point of sale. As they launch a new charging product, the company is equally enthusiastic about integrating the Fully Charged VSC into their existing portfolio. This move aims to fortify their position in the market and provide their customers with a comprehensive suite of offerings to protect and enhance their electric vehicles.
John Luckett, Executive Vice President of CalTex, voiced his enthusiasm about the product launch: "Here at CalTex, we don't just strive for innovation - we are committed to transcending the status quo and pushing the boundaries of possibility. With immense pride, I am excited to announce our groundbreaking partnership with OZOP Plus and Royal Administration, a true game-changer in the domain of Fully Charged Vehicle Service Contracts. We have channeled significant efforts, research, and resources into finding not just a product, but a strategic partner that will consistently exceed our customers' expectations."
Elaborating further on this collaboration, Luckett added:
"The Fully Charged Vehicle Service Contract offered by OZOP Plus through Royal Administration is a testament to the dedication, perseverance, hard work and talent of their teams. Its cutting-edge features and innovative capabilities are designed to provide our customers with the security and peace of mind they value. We stand firm in our belief that this synergistic alliance between CalTex and OZOP Plus will revolutionize in the landscape of Fully Charged Vehicle Service Contracts. The prospect of experiencing first-hand the transformative effect this will have on our customers fills us with anticipation and excitement."
Richard McCabe, President Royal Administration Services stated "We are excited about Cal-Tex wanting to white label the Fully Charged Electric VSC and the future of the auto industry. We could not have found better partners than Ozop, QuestX, and Cirba Solutions to create best-in-class electric vehicle coverage, along with a sustainable nationwide recycling program, and mobile emergency charging. Having Cal-Tex and their strength in the dealership community is a great addition to the team. This product truly is a game-changer and will be considered a benchmark for all future of electric vehicle service contracts."
About Ozop Energy Solutions.
Ozop Energy Solutions (http://ozopenergy.com/) invents, designs, develops, manufactures, and distributes ultra-high-power chargers, inverters, and power supplies for a wide variety of applications in the defense, heavy industrial, aircraft ground support, maritime and other sectors. Our strategy focuses on capturing a significant share of the rapidly growing renewable energy market as a provider of assets and infrastructure needed to store energy.
About Ozop Energy Systems, Inc.
Ozop Energy Systems is a manufacturer and distributor of Renewable Energy products in the Energy Storage, Solar, Microgrids, and EV charging Station space. We offer a broad portfolio of Renewable Energy products at competitive prices with a commitment to customer satisfaction from selection, to ordering, shipping, and delivery.
About Ozop Engineering and Design
Ozop Engineering and Design engineers’ energy efficient, easy to install and use, digital lighting controls solutions for commercial buildings, campuses, and sports complexes throughout North America. Products include relays panels, controllers, occupancy/vacancy sensors, daylight sensors and wall switch stations. Ozop has a dedicated design team that produces system drawings and a technical support group for product questions and onsite system commissioning. Our mission is recognized for our deep understanding of power management systems and ability to provide the right solution for each facility.
About Ozop Capital Partners
Ozop Capital Partners Inc. is a majority owned subsidiary of the Company, and wholly owns EV Insurance Company, Inc. (“EVIC”). EVIC, DBA Ozop Plus is a licensed reinsurance company that will market and distribute a vehicle service contract for the electric vehicle market, focusing on battery replacement, repair, and roadside assistance products.
About Royal Administration Services, Inc.
Royal Administration Services, Inc. is a developer, provider and administrator of Vehicle Service Contracts. Royal is dedicated to providing the most cutting-edge products, services and support available in the industry today. Royal has been in business for over 35 years, administers in excess of 2 million policies and has paid over $.5 billion in claims.
About Cal-Tex Protective Coatings, Inc.
Headquartered in Schertz, Texas, a suburb of San Antonio, CalTex was founded in 1983. Originally two separate automotive product businesses, one located in California and the other in Texas, the two merged to form Cal-Tex Protective Coatings, Incorporated. Since then, CalTex has grown to become the premier provider of environmental protection and aftermarket products sold through thousands of automotive dealerships nationwide.
Our continued success is enabled by our many talented employees with diverse backgrounds and experiences. Cal-Tex prides itself on a strong, energetic, customer-focused culture built upon the core values of Compassion, Humility, Integrity, Service, and Teamwork.
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FAQ
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