Tag Archive | "CNA National"

CNA National’s NCFC, Palo Verde, Marks 15-year Anniversary


Scottsdale, AZ —This year, CNA National Warranty Corporation (CNAN) is celebrating the 15-year anniversary of its noncontrolled foreign corporation (NCFC), Palo Verde Holdings, Ltd., established in 1999. Since inception, Palo Verde’s investment portfolio has grown to nearly $150 million, with an annualized inception-to-date combined return of 5.05 percent.

“On behalf of the dealer-shareholders, who own 100% of our NCFC, we are very pleased with Palo Verde’s success,” says Joe Becker, president and chief executive officer. “As with all of our products, we spent a significant amount of time researching NCFCs to ensure we would be providing our dealers the best possible reinsurance program. Through our management and investment partners, Palo Verde has remained consistent and dependable regardless of market fluctuations.”

CNAN reinsures warranties, GAP and tire-and-wheel protection in addition to vehicle service contracts. The company has distanced itself from its competitors, earning the Dealers’ Choice Award as “Best Reinsurance Provider” for the past three years (2011-2013).

“NCFCs have many benefits for dealers. Palo Verde in particular has a simple start-up process, a defined exit strategy, flexible investment options, low management fees, and regulations that are to a dealer’s advantage,” says Alan Miller, senior vice president of sales. “A common misconception is that NCFCs are only for dealers who exceed $1.2 million in written premium per year. This is not the case. In fact, the production requirements for Palo Verde are the same for our dealers’ controlled foreign corporations (CFC). Dealers should consider Palo Verde if they are interested in long-term, tax-deferred wealth building.”

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RoadVantage Introduces 6- and 7-Year Coverage Terms on All Ancillary Products


Austin, Texas – RoadVantage unveiled coverage terms up to seven years for its full line of ancillary products – becoming the first ancillary company to extend coverage terms to seven years across the board.

“Looking at the trend toward longer-term auto financing, it only makes sense for ancillary products to follow suit,” said Garret Lacour, CEO. “While service contracts, GAP and environmental coverages may go up to seven years, no other provider offers 7-year terms on the full line of F&I products. Having the option to match coverage terms on ancillary products with all loan terms is the next logical step, and it hasn’t been available until today.”

RoadVantage now offers 6- and 7-year coverage terms on all products, including its full suite of standalone and bundled programs.

“This is another demonstration of RoadVantage’s forward-thinking approach to F&I,” said Alan Miller, senior vice president of sales, CNA National, which announced an alliance with RoadVantage in September 2013. “Superior customer service and product quality, and now the longest terms of any provider in the industry on all F&I products: this is the kind of innovation our clients seek.”

“By extending our coverages, we recognize and address another void,” said Randy Ross, senior vice president of sales. “If auto loans last as long as seven years, why shouldn’t F&I ancillary warranties? This is one more way in which RoadVantage strives to set a new industry standard in F&I.”

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CNA National Announces Alliance with RoadVantage


Scottsdale, Ariz. – CNA National (CNAN), an provider of vehicle service contracts and reinsurance programs, formed an alliance with RoadVantage, provider of F&I programs, to market a full suite of ancillary products to dealerships nationwide.

Its parent insurance company, CNA, will underwrite RoadVantage’s line of F&I products, including both bundled and standalone products such as door ding protection, key replacement, interior repair, theft protection, windshield repair and more.

“Ancillary products have gained significant traction in our industry and are helping dealerships by providing much needed income as margins on vehicle sales have shrunk over time,” said Joe Becker, president and CEO, CNA National. “RoadVantage has the suite of products our clients have been looking for, offered by a company that we believe shares our values for superior customer service and product quality.”

With industry veterans at the helm, integrating technology to develop an innovative approach to claims administration, F&I integration and marketing tools, RoadVantage expects to continue expanding its market share by aligning with CNA National. Its full suite of ancillary products is sold individually, and “bundled” into packages that are easily incorporated into F&I menus.

“In the two years since its inception, RoadVantage has experienced exponential growth and this alliance with CNA National will further accelerate our expansion,” said Garret Lacour, president and CEO, RoadVantage. “CNA National’s distribution network and excellent industry reputation will enable us to advance our goal of driving greater value to dealerships and all stakeholders nationwide.”

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A Roundup of Tire & Wheel Providers


One of the core products in the F&I portfolio is tire and wheel, but over the years, it has evolved to meet changing consumer demands. As the product has evolved, demand has increased — it’s a testament to how listening and adapting can keep a product category not only alive, but thriving.

“Tire and wheel road-hazard protection has become one of the fastest-growing products provided in the F&I office,” said Rick McCormick, national account development manager, Reahard & Associates Inc., in his recent article on the product category. “While there are a few isolated areas of the country that have endured high increases in the cost of this product, for most it is a great profit opportunity for the dealer, and a great value for the customer. That’s a recipe for success.”

To that end, P&A Magazine asked a few tire and wheel providers to tell us about their products, and what sets them apart. You can view their answers below, but one thing I found interesting was that they see growth potential for the category specifically in the cosmetic packages.

Offering to repair or replace tires or wheels that are simply scuffed or scratched, but are still structurally sound, is a market that is growing as more and more U.S. customers purchase upgraded tire or wheel packages on their vehicles. It is a great example of how a traditional F&I product has grown and adapted to the changing consumer preferences, without losing it’s core focus in the process.

Another interesting thing to note is that, from a general technology perspective, the companies we talked to saw the impact more on the claims side than on the products themselves. A faster claims process that is also simpler for both dealers and consumers to access and use, they note, benefits the entire tire and wheel category as a whole, as it leads to more repeat customers looking to purchase the product on additional vehicles.

If you don’t already offer tire and wheel as part of your product roundup, it is worth another look; these offerings are a good place to start your research. “It provides needed coverage at a value-based price to the customer, and is providing good profit levels for dealers,” said McCormick. “Bottom line, it is a great product that is a strong performer and is still growing stronger everyday.”

Tire & Wheel Roundup

CNA National

CNA National
Alan Miller, senior vice president of sales

Can you give me a bit of your company history? How did you become involved in the Tire & Wheel category?

CNA National has been in the vehicle service contract industry for over three decades, so developing a tire and wheel product was a natural progression. We had significant demand from dealers because they already were highly satisfied with our vehicle service contract coverage and service levels.

Read More »

Family First Dealer Services

Family First Dealer Services
Zack Matta, director of product & business development

Can you give me a bit of your company history? How did you become involved in the Tire & Wheel category?

Family First Dealer Services (FFDS) was established more than two years ago by its founders Tony Wanderon and Courtney Criado. We provide and administrate many of the F&I products sold in dealerships today.

Read More »

Innovative Aftermarket Systems (IAS)

Innovative Aftermarket Systems (IAS)
Jeff Jagoe, senior vice president of sales and marketing

Can you give me a bit of your company history? How did you become involved in the Tire & Wheel category?

Founded in 1984, IAS was created to provide practical aftermarket programs and high quality administration and claims. IAS helped define tire andwheel as an aftermarket product offering in 1998 because we anticipated the need and found the program to be such a relatable and tangible product that is easy to market. We saw explosive growth in our tire and wheel program about a decade ago, during the wide spread adoption of menu selling.

Read More »

Safe-Guard Products International

Safe-Guard Products International
Dave Duncan, president

Can you give me a bit of your company history? How did you become involved in the Tire & Wheel category?

When Safe-Guard was founded in 1992, the industry was moving away from only offering vehicle service contracts and credit insurance in the F&I office. As companies looked to grow and develop their product offerings, one of our dealer group partners did some customer research, asking, “what should be covered under a manufacturer’s warranty, but is not?”

Read More »

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CNA National


Alan Miller, senior vice president of sales

Can you give me a bit of your company history? How did you become involved in the Tire & Wheel category?

CNA National has been in the vehicle service contract industry for over three decades, so developing a tire and wheel product was a natural progression. We had significant demand from dealers because they already were highly satisfied with our vehicle service contract coverage and service levels. It was important that we developed a product with the award-winning service and quality coverage that we are known for within our industry, and we have been successful in doing so since introducing our product to market.

What makes your product different from others on the market? How do you differentiate it?

There are numerous features that separate our product from competitors. There is no aggregate limit on the amount paid or number of claims, and our road hazard coverage is more extensive because we do not exclude common roadway hazards, including damage that occurs at construction sites. We expanded our curb and cosmetic coverage so we can repair or replace a tire without any time limit restrictions, or needing to know the details of the incident that caused the tire damage. Run-flat tires are also included with no additional surcharge.

We also pay retail cost on tires and wheels, allowing our dealers to use their tire and wheel inventory for replacement. Dealers can also sell our tire and wheel product on the service drive. Finally, our high-quality claims department handles our tire claims, so the same award-winning service dealers receive with our service contracts is provided for our tire-and-wheel product.

What is your primary sales channel? How do you market to that channel?

We market all of our products through our professional, independent agent base across the U.S. When dealers hear about our improved tire and wheel product from an unbiased agent, instead of a CNA National employee, there is an increased level of credibility and anticipation. When dealers see the enhanced coverage on a daily basis at their dealership, they are even more pleased with our product.

How has technology impacted Tire & Wheel in the last year, if at all? Do you see it having an impact in the future? Why or why not?

Technology has made it easier for our dealers to report and submit business to us. We added our tire and wheel product to our e-commerce platform of services, making it easier to report results for higher volume of sales.

In your opinion, where is the greatest growth potential for the Tire & Wheel category?

We see steady growth across U.S. markets. The product is still evolving, and in the future there will be additional variables on the product to make it even more consumer-friendly. We anticipate steady demand from a national consumer base that is just now using this product on a widespread level and getting to know the real value of a high-quality tire and wheel product that features expanded coverage.

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CNA National Serves on Prestigious CIO Perspectives Panel


SCOTTSDALE – Brian Pendergast, chief information officer (CIO) for CNA National Warranty Corporation, has been invited to be a panelist at the prestigious CIO Perspectives event in San Francisco on May 16 for senior information technology executives.

“CNA National is heavily investing in our technology architecture and CIO Perspectives is the perfect opportunity to benchmark what we have accomplished,” says Pendergast.

CIOs from Fortune 1000 companies create the agenda and topics that will be discussed in each city. Pendergast will be a participant on the panel, “Balancing Risk with Innovation in Mobility, Social Media and Consumer Technologies.” The panel also features executives from Chevron and Electronic Arts, and is moderated by Maryfran Jonson, editor-in-chief of CIO magazine.

The goal of CIO Perspectives is to empower local CIOs to expand their professional communities and to tap into the knowledge base of their colleagues to solve their most pressing IT/business problems.

“Being able to interact with my peers about best practices, lessons learned, successful strategies and architectures allows CNA National to increase our resources for future developments” says Pendergast. “We value our position as industry leader in providing vehicle service contracts and our technological investments in data analytics, rating automation and infrastructure will ensure we maintain separation from our competitors.”

Last month, CNA National became the first company to be simultaneously named top vehicle service contract provider and top reinsurer by Auto Dealer Monthly’s Dealer’s Choice Awards. CNA National’s technology investments in recent years include creating the CIO position, ongoing hiring within the IT department as well as new “e-business” portal websites for agents and dealerships. CNA National’s attendance at CIO Perspectives is part of its current campaign to increase visibility in the automotive and business industry sectors.

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