Tag Archive | "David Trinder"

P&A Leadership Summit Names 2016 Advisory Board

LAS VEGAS — Organizers of P&A Leadership Summit have announced the names of the advisory board members for the 2016 event, which will be held Aug. 30–31 at Paris Las Vegas.

David Trinder, president and CEO of F&I Administration Solutions, will serve as advisory board chair for the third consecutive year. He will be joined by:

  • Brent Allen, president, StoneEagle Insurance Systems
  • Jimmy Atkinson, senior vice president and COO, AUL Corp.
  • Robert H. Berger Jr., executive vice president and director of operations, Wise F&I
  • Bryan Bledsoe, president, One Guard Inspections
  • Mike Cescon, president, Old Republic Insured Automotive Services (ORIAS)
  • Bob Corbin, president and CEO, IAS
  • Troy Good, president and CEO, Dent Zone Companies Inc.
  • Kristen Gruber, president, Dealers Assurance Company (DAC)
  • Lori Hallissey, vice president of operations and customer experience, Allstate Dealer Services
  • George Krnich, vice president of claims and risk management, American Auto Guardian Inc. (AAGI)
  • Daniel Lievrouw, vice president of operations and IT, American Guardian Warranty Services Inc. (AGWS)
  • John Pappanastos, president and CEO, EFG Companies
  • Kelly Price, president, National Automotive Experts (NAE)/NWAN
  • Mitch Rand, president, C&K Auto
  • Tony Wanderon, CEO, National Auto Care

“This group includes many of the brightest minds and most effective leaders the F&I product provider and administration segment has ever seen,” Trinder said. “The work of building an agenda that reflects their expertise and the industry’s needs begins immediately.”

Registration for the event is expected to open soon. For updates and industry news, attendees are encouraged to subscribe to P&A magazine’s free enewsletter.

To inquire about sponsorship and exhibition opportunities, contact Eric Gesualdo via email hidden; JavaScript is required or at 727-612-8826.

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SaaS or Build: Which Admin System Is Best for You?

For automotive F&I providers and administrators, information technology is the third largest expense after personnel and administrative costs. A majority of that cost goes toward the upkeep and maintenance of the core administration system(s) responsible for products, rates, dealers, contracts, claims and earnings management.

Given the central role that the administration system plays, and especially in circumstances where it has been internally developed by a few key individuals, it is perhaps not surprising that the system and its attendant functions are sometimes viewed as a competitive advantage.

To deliver a competitive advantage, an administrative system needs to provide at least one of the following:

  • Support a product or solution that no one else can offer or
  • Enable support for a product at a lower effort and/or cost than others.

When Legacy Loses Uniqueness

Unfortunately, while the internally developed system may once have delivered on these requirements, it becomes increasingly more difficult and expensive for the development team to keep the uniqueness going. In fact, as more products and product permutations have hit the market, most teams have become consumed with keeping up with basic product requirements; maintaining the uniqueness that they originally delivered becomes secondary. In other words, that thing that set them apart at the start is lost in the effort to keep up with the competition.

F&I business priorities today require administrators to provide a complete portfolio of F&I products through a diverse set of sales channels with flexible and customizable accounting, commission and reinsurance programs. The greatest challenges to legacy systems are that they can only handle one or two products, can only support a few point-of-sale tools (e.g. menus) and have prohibitive modification costs for even simple changes.

In addition, continuing to support in-house systems requires considerable overhead, including salaries, benefits, building space, application licenses and liability. Moreover, continuing to maintain a custom administration system forces businesses to continually mitigate the key-man and technology obsolescence risks.

Emergence of SaaS

In recent years, many industries have taken advantage of the rapid commoditization of computing and have moved to outsourced or Software as a Service (SaaS) solutions for their technology needs. There is no debate as to if SaaS solutions are the right step, but of how and when to adopt such solutions. Adopting SaaS solutions allows providers to set service level standards for vendors, thereby enabling them to focus on managing factors that provide the true competitive edge: products, business processes, branding, data and partnerships.

SaaS solution providers are usually focused on one thing: the software. They have more than one customer and can therefore maintain a much larger development team than any individual provider, so they are able to keep up with business demands and often also get “ahead of the curve” when it comes to connectivity and innovative solutions.

As such, when adopting a SaaS solution, providers must look for a system that will allow for management of a complete product portfolio, retain those business processes that give them a competitive advantage, allow open access to their data and build high-performance partnerships.

It is extremely tough to finance an internal development team that can commit to all of this and deliver it in a timely manner. By adopting the right SaaS solution, a provider will gain a competitive advantage through a system that can support all of its business needs now and into the future. In addition, it enables the team to focus on true business priorities as opposed to technology challenges.

What can SaaS Do for Me?

Here is what product providers should look for in a SaaS provider:

  • A system that allows for management of a complete F&I product portfolio
  • A system that is highly configurable, allowing you to build a competitive advantage through innovative pricing, product combinations and coverage
  • A system that is flexible and robust reporting and business intelligence solutions — keep in mind that the data is yours and you should have easy access to it at all times
  • A system that provides connectivity to menus, DMS systems, credit card providers, inspection companies and other partners
  • A company that gives you the attention and support you need, not just through the implementation but also once you go live

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50th F&I Product Administrator Signs On With F&I Admin

CHICAGO – F&I Administration Solutions, LLC (F&I Admin), North America’s leading provider of software solutions for the administration of F&I products, announced today that it has added it’s 50th product administrator to the company’s steadily growing customer base. This milestone marks a significant achievement for F&I Admin and confirms its leadership position in the automotive and powersports F&I industry.

Since purchasing the company in 2009, F&I Admin has achieved exponential year on year growth – building its customer base from 7 to 50, integrating to over 60 menu and other partners and enhancing its SCS Auto software to continually expand its solutions and services without compromising on flexibility and ease of use. Over 5 million new transactions were processed through the SCS Auto system in 2015.

“F&I Admin differentiates itself from competitors by consistently evolving and updating its software and services,” said Kumar Kathinokkula, COO of F&I Admin. “This constant growth of the breadth and depth of our functionality ensures that we are always appealing to an ever growing list of potential customers. This is one of the major drivers of the rapid pace at which customers are signing up with us.”

“We are very proud of this moment in F&I Admin’s history,” added David Trinder, CEO of F&I Admin. “Companies who select F&I Admin are looking for a partner that is dedicated to the complete customer experience but is still agile enough to adjust to this ever-changing industry. Our continued growth is a direct result of F&I Admin’s ability to deliver to this expectation.”

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Simoniz Joins F&I Admin’s SCS Auto Platform

CHICAGO – F&I Administration Solutions LLC (F&I Admin), a leading provider of software solutions for the administration of automotive F&I products, has announced that Simoniz USA is now using F&I Admin’s SCS Auto platform for the administration of its F&I products.

Simoniz USA’s president and CEO, Bill Gorra, said his company selected SCS Auto after exploring every available option. “We made our choice based on F&I Admin’s administration capability as well as their connectivity with the menu and other dealer system providers,” Gorra said. “We feel confident knowing they have the ability to electronically contract our products through any system our dealers may be using.”

Simoniz USA was founded in 1910 and is America’s oldest car care brand. The Bolton, Conn.-based company produces an extensive lineup of retail products in addition to its F&I product lineup, which is sold by thousands of U.S. dealers.

“We are so pleased to have Simoniz on our system, especially considering their position in the industry,” said David Trinder, CEO of F&I Admin. “We are integrated to over 40 menu and other dealer point of sale systems, and we continue to add to the list each month. This strategy has been extremely valuable to our customers, and Simoniz has clearly seen the opportunities it creates.”

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A Message from the Advisory Board Chair

I am very pleased to say that the P&A Leadership Summit advisory board has worked tirelessly to put together the most relevant show I can remember for administrators and providers of F&I products. Not only have they focused on the most relevant topics, but they have also helped secure a great list of speakers, all of whom will surely provide opinions and suggestions that will give you much to think about on your journeys’ home

Our mandate was to build a show that focused on the key areas administrators are concerned with – profitability, efficiency, and how to prepare for the future, all while considering technology, and the changing requirements of agents and dealers. Each board member took one or two topics and helped us put just the right focus on each. The sessions will promote thinking not only on the issues today, but how they will affect the way business will be conducted tomorrow.

We have panel of seasoned leaders in reinsurance lined up to share with you their expertise and insights. They will examine various domiciles and evaluate the benefits, challenges and offerings of each. StoneEagle’s Thomas Elliot will moderate as the panel addresses topics such as the impact of the regulatory environment, IRS scrutiny, current trends, and expectations for the future of reinsurance.

The claims panel will be moderated by George Krnich and will have three claims managers and two service managers. No topic is off limits. Inspections, parts sourcing, technology, communication (call center) challenges and much more will be discussed. With luck, the audience will have their own questions that will get the panel going with some healthy discussion.

Kristin Gruber has worked hard with a panel of top actuaries to put together a session that will address topics such as how to price more accurately with less data, how to keep up with current trends and of course how to manage the profitability of VSCs, GAP and other products.

I do not think there is a more qualified person than Lance LaCoe to provide a sound perspective on expanding internationally. In addition to some great anecdotes that highlight the quirks of international expansion, his presentation will provide some invaluable insights. LaCoe will share first hand knowledge of the critical elements to consider before committing to international markets, how to identify opportunities internationally and then what it will take to successfully execute a business plan.

We have a team from SSAE 16 Professionals who will talk about the expectations on a business when doing an SSAE 16 audit. I expect that not everyone is interested in going through the SSAE 16 audit process, but these gentlemen will offer a unique lens through which attendees can view their own businesses as they examine the controls they currently have in place. You will come away from this session with some excellent food for thought on ways you could improve your business’s day-to-day operating practices, whether or not you intend to complete the SSAE 16 audit.

Craig Tessimond’s keynote speech will discuss the growing trend of private equity. Whether or not you are considering selling to a private equity firm, there is much value in being aware of how an outsider would determine the value of an F&I third party administrator. In addition to discussing valuation methods and considerations, Tessimond will discuss what is involved in the sale process. I think this will be an informative session for everyone.

When it comes to the growing role that the CFPB is taking in our industry, who better could we to have speak on the subject than someone who has been part of, and influenced, the thinking of the CFPB? Rick Hackett understands the CFPB’s mindset and will share the direction and role he sees this bureau taking in the future. Expect to come away from this session with a more solid grounding from which to evaluate the CFPB and how it will affect us going forward.

Steve Braskamp, will keynote for both the Industry Summit and the P&A Leadership Summit. Steve, as director of Capital One will give us the inside perspective on the auto finance segment.

Then there is Tim Meenan. We could not think of a better person to talk about today’s regulatory environment. He is clearly one of the country’s leading experts. He will talk about the regulatory and legislative issues that are coming down the pipeline and give you a broader sense of how these issues are going to affect your business.

The last session will be about the future with particular emphasis on technology. Dan Lievrouw, VP of Operations and IT at American Guardian Warranty, will moderate leading experts on electronic signatures, what the options are, the challenges of rollout, how lenders will view them and what the technological challenges are to making them mainstream. With DMS providers and other system providers on the panel, this is your chance to think about technology in your businesses and how it needs to be managed and developed to support signatures and other necessary developments. This session will get everyone thinking about how to position their business not to be left behind.

The September P&A Leadership Summit offers the once a year opportunity for F&I administrators and professionals to get together, discuss key issues, and network. This is THE annual event for the industry. I look forward to a great turnout, meeting you all again and, like you, coming away with much food for thought.

The P&A Leadership Summit is a joint production between P&A and F&I and Showroom magazines. The show will take place September 8-9, 2014 at Paris Las Vegas. The Full Agenda and information on the Speakers and Presenters is now available. For more information, visit pa-leadershipsummit.com or contact Eric Gesualdo via email hidden; JavaScript is required or at (727)940-5823.

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Agenda Released for P&A Leadership Summit 2014

LAS VEGAS – Organizers of the 2014 P&A Leadership Summit have announced the release of this year’s full agenda. This premiere industry event for F&I administrators, senior managers, and anyone involved in the administration of F&I products will be held September 8th and 9th at Paris Las Vegas.

Attendees will be welcomed on the evening of Sunday, September 7th with happy hour and registration from 5:00 – 7:00 p.m. The show officially begins at noon on Monday with a luncheon presentation.

David Trinder, this year’s advisory board chair and CEO of F&I Administration Solutions, says “Attendees can look forward to a superb conference. The advisory board has gone to great lengths to put together a show that will address the most relevant issues for today’s industry professionals.”

The afternoon will feature three panel sessions exploring issues and opportunities in reinsurance, the many dynamics of claims processing and the controls F&I administrators need in place to operate at optimal efficiency and effectiveness. The 5:00 p.m. evening keynote will wrap up day one.

On day two of the show, former CFPB point man for the auto finance industry, Rick Hackett, partner, Hudson and Cook LLP, will begin the morning with a keynote address.

Tim Meenan, managing shareholder, Meenan Regulatory and Legislative Attorneys, will follow, with a keynote address discussing regulatory laws and their impact on service contract providers.

The afternoon sessions will feature such topics as international expansion and a panel on the growing market trends and opportunities for increasing efficiencies and automation in the F&I industry.

Full travel, conference and speaker information is available on the P&A Leadership Summit website. Click HERE to register now and save.

The P&A Leadership Summit is a joint production between P&A and F&I and Showroom magazines. For more info, visit pa-leadershipsummit.com or contact Eric Gesualdo via email hidden; JavaScript is required or at (727) 940-5823.

Click HERE to see the full Agenda.

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