Tag Archive | "F&I"

CNA National Distributes Over $40 Million for Dealer Participation Plans for 2016


SCOTTSDALE, Ariz.—CNA National Warranty Corporation (CNAN) returned over $40 million to automobile dealers across the U.S. through its various participation plans for 2016. This brings its inception-to-date total to more than $424 million.

“Over the past five years, we’ve seen a significant increase in returns,” says Joe Becker, president and chief executive officer. “This performance demonstrates the strength, stability and flexibility of these programs. They deliver the dependability our dealers expect and deserve regardless of the participation option selected.”

With CNA National, dealers can select the participation program that best serves both their business and individual financial goals. The company offers a retro program, as well as reinsurance, including CFC (controlled foreign corporation) and NCFC (non-controlled foreign corporation) structures. CNA National’s NCFC—Palo Verde Holdings—is managed by a board of directors made up of dealer shareholders. It has over $220 million in assets, making it an excellent choice for dealers wanting to maximize investment returns while minimizing risk.

CNAN reinsures warranties, GAP and tire-and-wheel protection in addition to vehicle service contracts. The company has earned multiple awards as “Best Reinsurance Provider” in the Dealers’ Choice Awards, including first-place honors in 2011, 2012 and 2013.

 

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National Auto Care names Steve Verney as Chief Financial Officer


WESTERVILLE, Ohio – National Auto Care today announced the appointment of Steve Verney as the company’s Chief Financial Officer, leading the finance, accounting and reinsurance teams. In this new role, he will work to help National Auto Care amplify its recent profitable growth and build an even stronger foundation for the next level of success.

Steve retired from Allstate Insurance in 2015 after a distinguished 34-year career. He held multiple senior- level roles in Finance and Risk Management, including CFO of both property-casualty and life divisions, Treasurer, and head of strategy and M&A. He completed his career at Allstate as Executive Vice President and Chief Risk Officer. In each of these roles, he helped improve growth, profitability and financial strength as well as drive transformative change while developing strong financial talent and organizations.

“I am thrilled to join National Auto Care as we work together to build on the great work the team has done to achieve even greater success for our agents, employees, business partners and ultimately our shareholders,” said Verney.

“Steve’s strong qualifications and strategic mindset make him the perfect fit to take our financial management to the next level,” said CEO Tony Wanderon. “With his expertise in all facets of financial operations, insurance and M&A, Steve brings a balanced ability to develop and execute strategies that will drive growth and competitive advantage for the company on a national level.”

Steve earned his bachelor’s degree and MBA from the State University of New York at Buffalo. He is a member of the American Institute of Certified Public Accountants and the National Association of Corporate Directors.

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RoadVantage Appoints Mike Essig as Director of Risk Management


AUSTIN – RoadVantage, the fastest-growing provider of F&I programs for the automotive industry, today announced that Mike Essig has joined the company in the role of Director of Risk Management.

Essig joins RoadVantage with 13 years of industry experience, specializing in actuarial analysis and risk management, most recently as Risk Management Director and Actuary at CNA National Warranty Corporation. Prior to that, Essig was a Senior Pricing & Reserving Actuarial Analyst for Warranty Solutions.

“We are thrilled to welcome Mike to the RoadVantage team,” said Garret Lacour, CEO of RoadVantage. “Mike is highly regarded in his field, and has the right combination of skills and expertise to bring value to RoadVantage as we continue to grow.”

A graduate of Brigham Young University, Essig joins RoadVantage as the company continues to experience record growth, expanding in contract volume, programs, staff and offices.

“I have known the RoadVantage leadership team for years, working with them during my time at CNA National, and I’ve been impressed by their smart strategies that have resulted in such rapid success,” said Essig. “I’m excited to be part of such a talented group.”

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VisionMenu releases Remote F&I


FT WAYNE, Ind.- VisionMenu release Remote F&I- a remote Menu, Disclosure and Document signing web application that uses the vSignature technology, Patent-Pending, to control what a customer views on their smart phone and allows eSigning of any document.

The remote tool gives the finance person 100% control over what is displayed on the customer smart phone or tablet device no matter where the customer is located, such as the finance office or in the privacy of their own home.

“Remote F&I gives the F&I Manager a tool to sell more products to the online buyer, or any buyer that can’t make it into the dealership.” says Ron Martin, president of VisionMenu. “It also gives them a tool to e-Sign documents so the customer doesn’t have to come back to the dealership to resign forms. It can even serve as a tool to close a deal with the buyer at the dealership and the co-buyer at a remote location.”

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GWC Warranty Appoints Director Of Marketing Strategy


WILKES-BARRE, Penn. – GWC Warranty, the best-in-class provider of used vehicle service contracts and related finance and insurance products sold through automotive dealers, has promoted Mike Silverman to the position of Director of Marketing Strategy.

Silverman joined GWC Warranty in 2014 as the Manager of Product Strategy, and has since overseen product improvements and new product development aimed at helping dealers sell more cars. In his new role as Director of Marketing Strategy, Silverman will have added input and influence over all aspects of the company’s marketing strategy.

“Mike’s accomplishments during his tenure at GWC have consistently contributed to the success of our dealer partners and in turn been a key factor in our company’s growth in recent years,” said GWC’s CEO and President Rob Glander. “We are confident that his leadership and vision for our future will continue to have a positive impact on GWC as a whole.”

Prior to joining GWC, Silverman held several progressive marketing and sales roles at nationally renowned companies such as Dunkin’ Brands, Bose and the Cleveland Cavaliers. He is 2007 graduate of Amherst College and he holds a Master of Business Administration from the Franklin W. Olin Graduate School of Business at Babson College.

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CNA National Appoints New V.P. of Product Development


SCOTTSDALE, Ariz.—Effective January 23, Rose Larsen joined CNA National as vice president of its newly created Product Development Department.

Larsen has over 20 years of experience with product formulation, life cycle management, market trend analysis and branding. She spent over nine years with Assurant Specialty Property overseeing product development for eighteen states. Most recently, she was director of product development at American Reliable Insurance Company, a spin-off from Assurant, where she led a team that managed product development and implementation across all fifty states. Rose was also part of a team that wrote requirements and implemented a new client management and contract issuance system that became one of the main selling features for attracting new clients.

“With Rose’s experience and expertise, we look forward to bringing updated products to the market more quickly and adding products with the same high level of quality and customer service our clients expect,” says Joe Becker, president and chief executive officer. “The creation of the Product Management Department is part of our long-term growth strategy and plays a significant role in maintaining our leading position in the industry.”

Larsen and her team will be responsible for overseeing the life cycle of all CNAN products, as well as research and development of new products. They will work closely with sales and marketing leadership to assess and pursue opportunities based on industry analysis and the company’s strategic plan.

“I’m delighted to join CNA National,” says Larsen. “The F&I industry presents a new challenge for me. I’m excited for the opportunity to apply my skills and confident I can help take the company to the next level.”

Originally from Fargo, North Dakota, Larsen holds two Bachelor of Arts degrees from North Dakota State University.

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