Archive | Actuary

Are We Setting the Right Price?

Are We Setting the Right Price?

As an actuarial consulting firm, we spend a lot of time deriving the specific cost for F&I products, both from an overall perspective and down to the granular level. For example, we develop models which inform you that the cost of a wrap service contract for a Hyundai Elantra with 30,000 miles and 2.5 years … Read More »

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Breaking Down Limited Lifetime Warranty

Breaking Down Limited Lifetime Warranty

Limited lifetime warranty is among the emerging products in dealerships today. Dealers are adding it to vehicles as a marketing incentive and added benefit for customers, but the warranty also offers several additional advantages: Provides peace of mind to the consumer Will encourage service visits Can be added at a reasonable cost To learn more, … Read More »

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Are We Setting the Right Price?

Are We Setting the Right Price?

As an actuarial consulting firm, we spend a lot of time deriving the specific cost for F&I products, both from an overall perspective and down to the granular level. For example, we develop models which inform you that the cost of a wrap service contract for a Hyundai Elantra with 30,000 miles and 2.5 years … Read More »

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GAP – Where Do We Go From Here?

GAP – Where Do We Go From Here?

While publicly available data is not available for GAP writers, it is clear of that 2011 will go down as a profitable year for GAP Insurance. This is due to two factors: the lower leverage permitted by the credit markets and the high value of used cars. How does GAP work? Why do these factors … Read More »

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Carrier and Administrator Relations – Best Practices

Carrier and Administrator Relations – Best Practices

Recently I had the pleasure of moderating a session on best practices for carrier and administrator relations at the VSCAC conference in Las Vegas with representatives from both leading carriers and administrators. Before discussing the best practices of maintaining a fruitful relationship between these parties, let’s briefly review the structure of the industry. An administrator … Read More »

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Month-to-Month Vehicle Service Contracts

Month-to-Month Vehicle Service Contracts

Vehicle service contracts have traditionally been sold as a single pay product purchased at the time of vehicle purchase. While the typical retail charge for the vehicle service contract (VSC) can be in the thousands of dollars, the availability of the vehicle finance contract provides a ready source of funds to pay the full cost. … Read More »

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