New Leaf Service Contracts

What New Leaf Service Contracts does

New Leaf Service Contracts, Inc. is an independent, employee-owned third-party administrator (TPA) of extended protection plans and warranty programs, founded in 2011 by Sean Hicks and Richard Gavino and headquartered in Irving, Texas. The company administers service contracts on behalf of independent and regional retailers, OEMs, program partners, and white-label resellers across verticals including appliances, electronics, furniture, eyewear, jewelry, and specialty retail, backed by multiple A-rated insurance carriers that underwrite the underlying risk. Its core product suite comprises four solutions: Extended Protection Plans (custom-branded service contracts averaging approximately $40 in price), OEM Warranty Support (warranty administration and claims handling for manufacturers), Contact Center Services (multi-channel outsourced customer support with dedicated representatives trained per partner), and Shipping Protection (transit damage and loss coverage including post-purchase enrollment). These are supported by three portals: a Customer Portal for claims and payments, a Service Partner Portal for the nationwide repair network (2,500+ authorized service centers), and a Dealer Portal for retail partner program administration.

The business operates on a transaction-fee and managed-services revenue model, earning commissions on each contract sold through its retailer channel and fees for claims processing and contact-center services. Go-to-market combines field sales targeting independent retailers, channel partnerships with repair shops and service providers, and a direct enterprise motion for larger OEMs and program partners. Pricing is quote-based and customized per retailer product mix and volume, with no public rate card. Distribution is domestic U.S. only, with active programs in all 50 states and approximately 650-800 retail businesses operating roughly 2,500 storefronts, serving over one million customers with active contracts. The company employs 88 direct staff plus 60-70 outsourced team members based in El Salvador, holds a 30% Employee Stock Ownership Plan implemented in September 2020, and is pursuing COPC 2000 certification for customer experience operations. Management includes CEO Sean Hicks (30+ years industry experience from Sears, Montgomery Ward, and Warrantech), President Laura Gaitan (founding-era employee), CFO R.D. Patel, VP of Operations & Technology Sameer Mohsin, and VP of Business Development Kharl Mena.

Name

New Leaf Service Contracts

Legal name

New Leaf Service Contracts, Inc.

Website

https://trynewleaf.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

101–250 employees

Short description

New Leaf Service Contracts is an independent, employee-owned third-party administrator that designs and administers extended protection plans, OEM warranty programs, and outsourced contact-center services for U.S. independent retailers, manufacturers, and white-label program partners across appliances, electronics, furniture, eyewear, jewelry, and specialty retail.

Ownership category

akta.pro rank

Product category

Warranty and Service Contract Administration

SIC

Services-Management Services (8741)

akta.pro primary industry

OEM/Captive Warranty & Service Contract Programs (FSAJALAE)

Keywords

• Service contract administration
• Extended warranty programs
• Protection plan services
• Warranty claims processing
• Third-party administration

Headquarters

HQ city

Irving

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Service Contract Administration: New Leaf administers service contracts (extended protection plans) for retailers, earning transaction fees on each contract sold. The average service contract is approximately $40. Revenue is generated through commissions from insurance carrier partnerships and service fees from claims processing.
2. Retailer Commission Revenue: Retailers earn commission on every protection plan sold through New Leaf's dealer program. New Leaf handles all service, claims, and customer support while the retailer generates revenue at point of sale with no inventory required.
3. Contact Center Services: New Leaf provides customer care and contact center services as a managed service offering, handling warranty calls and customer support for retail partners.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

New Leaf Service Contracts is an independent third-party administrator that designs, administers, and services extended protection plans (service contracts) on behalf of retailers, OEMs, and manufacturers. The company manages the full program lifecycle including plan design and branding, point-of-sale enablement, claims processing, customer service, and dispatch of repairs through a nationwide authorized service provider network, with programs backed by multiple A-rated insurance carriers.

Product overview

New Leaf Service Contracts is an independent, employee-owned third-party administrator providing a suite of protection programs for retailers, manufacturers, and service providers. The core portfolio consists of four main service offerings: Extended Protection Plans (custom branded service contracts), OEM Warranty Support (warranty administration for manufacturers), Contact Center Services (outsourced customer support), and Shipping Protection (transit damage/loss coverage). These are supported by customer-facing and partner-facing online portals including a Customer Portal for claims and payments, a Service Partner Portal for repair network management, and a Dealer Portal for retail partner administration. The company operates across multiple retail verticals including appliances, electronics, furniture, eyewear, jewelry, and specialty retail, serving over 800 businesses with 2,500 storefronts nationwide.

Differentiator

Problem solved

Functional benefit

Products and services

• Extended Protection Plan Custom extended protection plans for retailers that include white-label branding, A-rated insurance backing, and coverage across appliances, electronics, furniture, jewelry, tablets, and smartphones. Plans are customized to match each retailer's product mix and price points.
• OEM Warranty Support Warranty administration services for original equipment manufacturers including complete claims processing, customer service representation, flexible coverage terms, real-time reporting, and the option for extended warranty programs that build on OEM coverage.
• Contact Center Services Customer service outsourcing in which New Leaf's team becomes an extension of the retailer's business. Includes dedicated representatives trained on the retailer's business, multi-channel support (phone, email, chat, social media), custom scripts, and real-time reporting.
• Shipping Protection Protection for products damaged or lost in transit, including post-purchase enrollment for customers who missed coverage at checkout. Features digital delivery tracking, proactive customer communication, and 48-hour average claim resolution for shipping issues.
• Customer Portal Online self-service portal for end customers to file claims, make payments, and track claim status. Hosted at customerportal.trynewleaf.com.
• Service Partner Portal Portal for repair shops and technicians to access tools, training, work orders, and support, providing an end-to-end workflow for service providers in the New Leaf network.
• Dealer Portal Partner portal for retailers and dealers to manage protection plans, view reporting, and access support tools.

Quantifiable outcome

• 89% customer satisfaction rate in furniture category
• +10 more outcomes

Named customers5 records

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature5 records

Partnerships

Two partnerships are on record, tiered minor and core.

• HighVolveminorGTM or Marketing PartnerPartner program relationship with HighVolve, a technology or service partner in the New Leaf ecosystem. Listed as a partner link on the Program Partners page.
• A-rated Insurance Carriers (Multiple)coreOthersNew Leaf partners with multiple A-rated insurance carriers to provide flexible, customizable protection programs. This insurance backing is fundamental to their service contract administration business model.

Scale indicators9 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Allstate Protection Plans: Formerly SquareTrade, Allstate Protection Plans is one of the largest extended warranty and device protection administrators in North America. Directly comparable to New Leaf as a third-party administrator selling service contracts through retailer channels with similar claims processing infrastructure, though at substantially greater scale.
• Extend: Extend is a modern warranty management platform that partners with retailers and brands to offer extended protection plans at point of sale. Directly comparable to New Leaf in product offering, B2B2C distribution model, and merchant-integrated warranty administration, though Extend focuses more heavily on e-commerce merchants and digital-native brands.

Emerging players

• Upsie: Upsie is a consumer-facing extended warranty provider for electronics, appliances, and other consumer products. Comparable to New Leaf in administering service contracts on consumer goods, though Upsie sells direct-to-consumer rather than through a retailer dealer network.
• Clyde: Clyde is an extended warranty platform that enables DTC and e-commerce brands to offer product protection plans at checkout. Comparable to New Leaf in offering retailer-branded service contracts with claims processing infrastructure, though Clyde focuses primarily on direct-to-consumer e-commerce merchants rather than independent retailers.
• Mulberry: Mulberry is an extended warranty and product protection platform enabling Shopify and e-commerce brands to offer protection plans. Comparable to New Leaf as a service contract administrator with merchant-integrated distribution, though Mulberry focuses on e-commerce-native merchants and software-led integration.
• SureBright: SureBright is a warranty platform enabling Shopify, BigCommerce, and other merchants to offer extended protection plans. Comparable to New Leaf in offering merchant-branded service contracts with claims administration, though focused on SMB and mid-market e-commerce merchants rather than independent brick-and-mortar retailers.

Broad incumbents

• Assurant: Assurant is a global provider of extended warranty, device protection, and lifestyle protection plans serving major retailers, OEMs, and wireless carriers. Comparable to New Leaf in extended warranty administration and OEM warranty support, but is a public, diversified Fortune 500 company with significantly broader reach.
• Asurion: Asurion is the largest U.S. provider of device protection, extended warranty, and tech support services, partnering with major retailers and wireless carriers. Comparable to New Leaf as a major service contract administrator, but operates at much larger scale with broader product portfolio and carrier-centric distribution.
• AIG Warranty: AIG provides extended warranty and service contract programs through major retailers and manufacturers worldwide. Comparable to New Leaf in administering OEM and retailer-backed warranty programs with insurance carrier backing, though AIG is a global insurance conglomerate operating at vastly greater scale.
• Fortegra: Fortegra is a specialty insurance company offering extended service contracts, warranty programs, and dealer services products through retailers, OEMs, and financial institutions. Comparable to New Leaf as a service contract administrator with insurance carrier backing serving retail and OEM channels, though Fortegra is larger and offers broader financial products.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/newleafsc

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about New Leaf Service Contracts