Tag Archive | "CNA National"

CNA National Surpasses $3 Billion in Claims Paid


SCOTTSDALE, Ariz.—CNA National recently exceeded $3 billion paid for claims across all product lines. The majority of this amount was paid to the company’s participating dealers on behalf of customers who returned to the dealerships where they purchased their service contracts for covered repairs.

“Passing this $3 billion mark is a testament to our fast, hassle-free claims process,” said Joe Becker, president and chief executive officer. “We’ve seen tremendous growth and changes over the past 35 years. Although we have developed into one of the largest service contract companies in the industry, we are still committed to our founding philosophy of being the best one in the industry. Customer service has been and always will be the cornerstone of our values.”

Since its founding in 1982, CNA National has set a new standard for claims excellence, as well as defined what it means to work with dealerships as an integral part of their business strategy, not just an F&I provider. One way the company has done this is by designing its contracts with an option for a “disappearing deductible” that encourages customers to return to the selling dealership for repairs.

“The fact that over half of the $3 billion was paid to selling dealers demonstrates our commitment to helping our clients retain customers,” said Alan Miller, senior vice president of sales. “We are grateful to our agents, dealers and staff, who all contributed to helping us reach this milestone.”

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CNA National Welcomes New CIO


SCOTTSDALE, Ariz. — CNA National Warranty Corporation (CNAN) is pleased to announce that Jim Lee has joined the company as its new chief information officer, effective Aug. 7.

“With a wealth of experience in both information technology and business leadership, Jim has the right combination of skills to help CNA National as we continue to enhance our IT delivery model and infrastructure,” said Joe Becker, president and CEO. “We are excited to have him join our team.”

Lee has more than 25 years of experience, including over a decade in executive-level roles. Most recently, Lee served as CIO and head of operations for Pacific Specialty Insurance Company, where he drove the transformation of the organization through technology. He also served as CIO for the North America region for Marsh Inc. and in leadership roles with IBM Business Consulting Services, Credit Suisse First Boston Asset Management, Morgan Stanley and UBS Global Asset Management.

“I’m excited to join CNA National at a time when the company is making a significant investment in technology to support its continuous growth,” Lee said. “I look forward to spearheading several strategic initiatives that will help our company and customers thrive in today’s ever-changing automobile industry.”

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CNA National Launches New Vehicle Service Contract Program


Scottsdale, Ariz.—CNA National, a recognized leader in the service contract industry, introduced its newest VSC series: Z2. This advanced product offers a wealth of consumer benefits with its enhanced coverage, additional deductible options and increased expense reimbursement package—all at highly competitive rates.

“Z2 is the latest in a long line of VSCs all designed to be the best on the market,” said Alan Miller, senior vice president of sales. “This premier product provides comprehensive benefits, with deductibles that encourage customer loyalty and help increase a dealer’s CSI, while also ensuring CNA National’s continued position as the industry leader.”

Following a thorough rate review, CNA National redefined its vehicle classing system. The result is a more competitively priced program based on vehicle make, model and mileage, especially for used vehicles. As the company looks to expand further into the certified pre-owned market, the improved coverage and rates will give dealers the ability to better match product with the needs of each consumer.

Highlights of Z2 Series include:

  • The addition of coverage for numerous parts including propulsion battery, LED lights, supplemental restraint system, cell phone and Bluetooth connectivity, and steering wheels—heated and cooled along with integrated controls.
  • Expanded definitions for consequential damage (by a covered part to a non-covered part) and commercial use, including rideshare vehicles titled to private individuals.
  • A greater differentiation between our stated-component and exclusionary coverage levels.
  • More choices for deductibles, including more “disappearing” deductibles that incentivize the customer to return to the selling dealer for service.
  • Increased allowances for towing, rental car, and travel and lodging.

Similar enhancements are available in our revamped Lifetime 2 Wrap service contract, specifically designed to complement CNAN’s Lifetime Powertrain Limited Warranty.

“Our very successful Lifetime program provides dealers a way to differentiate themselves in this competitive marketplace,” said Miller. “We took this opportunity to apply the same Z2 upgrades to our lifetime and stated-term wrap contracts, enhancing this valuable program that has proven to help dealers increase sales and customer retention.”

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CNA National Appoints New Vice President of Claims


SCOTTSDALE, Ariz.—CNA National is pleased to announce that, effective April 1, Mike Bacosa has been promoted to vice president of claims.

Bacosa is a long-time member of CNAN with over 20 years in the Claims Department. For the past seven years, he led CNAN’s claims organization as its senior manager and has held many other roles since starting as an adjuster in 1997. Previously, Bacosa spent a few years as a service advisor with a local Arizona Volvo and Mazda dealership.

“Mike was the obvious choice for this role,” said Joe Becker, president and chief executive officer. “Throughout his tenure here, he has demonstrated strong leadership, excellent judgment and a passion for what we do. He is well positioned to help us maintain our leadership role in the industry.”

Bacosa and his team of over 100 adjusters are responsible for resolving all incoming claims, working closely with our dealership clients and delivering the high level of service our customers expect.

“I am honored to become a part of the executive team here at CNAN,” said Bacosa. “It’s a wonderful feeling to come to work and love what you do. I am excited by the challenges this new role will present and will continue to focus the Claims Department on delivering superior service and exceeding expectations.”

 

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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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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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