Tag Archive | "EFG Companies"

EFG Companies Pushes the Industry Again with Technology Innovation


DALLAS – EFG Companies, the innovator behind the award-winning Hyundai Assurance program, today launched Parts Wizard, a new technology platform that reduces dealer reinsurance exposure, streamlines claims administration and increases customer satisfaction. For more information about EFG’s claims administration, visit: http://bit.ly/EFGAdmin

EFG’s Parts Wizard automates the manual process of sourcing OEM, aftermarket, remanufacturered, and used parts for vehicle repairs. In addition, sourcing parts through the Parts Wizard enables dealerships to reduce future claims risk with a longer warranty than the standard OEM parts provided by the manufacturer.

All parts sourced through the Parts Wizard, come with an “end of contract” warranty covering the deductible, labor and cost of replacement parts. If any part sourced through the Parts Wizard malfunctions during the term of a customer’s contract, the cost to repair or replace that part will be completely covered without dipping into reinsurance reserves.

“Considering the number of older vehicles on the road, and the potential for consumers to use neighborhood mechanics, EFG’s Parts Wizard offers dealers a better level of control over how their claims are handled, regardless of the level of service provided to their customers by shops outside of their dealership,” said Ken Overly, Vice President, Operations, EFG Companies.

Traditionally, claims administrators must research vehicle parts with several vendors, on each vendor’s website, before negotiating with a service center. The Parts Wizard is an essential search engine that sources parts from all EFG-approved vendors at once, drastically shortening the time it takes to research parts by up to 30 minutes per claim. In addition, the technology prioritizes results based on availability and price to factor into the decision process.

“The Parts Wizard allows us to better negotiate with service centers outside of dealerships by providing the best price from vendors they likely already use and trust. The service center will either drop their price to match ours, or EFG will purchase the parts directly from the vendors and have them shipped to the shop,” Overly stated.

“At EFG, we always strive to look beyond the curve to provide industry-leading customer service and efficiency for our clients and our contract holders,” said John Pappanastos, President and CEO, EFG Companies. “The Parts Wizard is another example of EFG consistently delivering solutions that the rest of the industry hasn’t seen.”

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EFG Companies Hits Trifecta at the Stevie Awards Once Again


DALLAS – EFG Companies, the innovator behind the award-winning Hyundai Assurance program, announced today that the company was recognized at the 10th Annual Stevie® Awards for Sales and Customer Service, a feature of the American Business AwardsSM, the USA’s top business awards program. This marks the second year running that EFG has won awards in three categories, including:

  • A Gold award in Business Development Achievement of the Year;
  • A Silver award in Sales Consulting Practice of the Year; and,
  • A Bronze award in Contact Center of the Year (Up to 100 Seats).

Last year, EFG won Stevie awards in three categories:

  • Contact Center of the Year (Up to 100 Seats)
  • Field Sales Team of the Year
  • Business Development Achievement of the Year

“These awards signify EFG’s continued efforts to set a high bar in the consumer protection product industry for client engagement and overall customer experience,” said John Pappanastos, President and CEO, EFG Companies. “At EFG, we take pride in operating as an extension of our clients’ management teams to achieve industry leading results. We believe that longevity and success is ultimately measured by a simple premise: keeping a promise to a customer when they need it most.”

Momentum in Service Excellence

In the past year, EFG Companies has received 9 national awards in recognition of results the company has driven for its clients, and for the overall experience it delivers to contract holders every day. The company’s most notable awards and recognitions include:

  • Dallas Morning News Top 100
  • F&I and Showroom Magazine Dealer of the Year Award for EFG client, Davis-Moore
  • One of first hundred companies in the US to achieve Consumer Credit Compliance Certification from the National Association of Automotive Finance
  • Powersports Business Nifty 50 Product Award winner
  • SubPrime Auto Finance News Top 125 Most Influential Firms

EFG was the first product provider whose dealer services field team was 100% AFIP certified, and the only product provider to receive a Center of Excellence certification by Benchmark Portal – a designation that less than 10% of companies achieve. EFG is also the only provider to be awarded the ASE Blue Seal of Excellence, and more than 90% of the company’s adjusters are ASE certified with an average of 15 years of experience. In its most recent client satisfaction survey, EFG’s net promoter score ranked higher than USAA Banking and Insurance, Nordstrom, Apple iPhone and Laptop, with 92% of its dealers noting a high likelihood to recommend EFG to another dealer.

For close to 40 years, EFG has developed products to protect consumers from the risks associated with costly vehicle mechanical breakdowns. As a product administrator, EFG provides innovative solutions to drive higher profitability and customer satisfaction for auto manufacturers, retail automotive dealerships, lenders, and property and casualty insurance agents. EFG surrounds its clients with an engagement model that incorporates a broad array of marketing and training services to facilitate the compliant and successful sales of consumer protection products.

Stevie Awards Set the Bar on Customer Focus

“The Stevie Awards for Sales & Customer Service continues to be the fastest-growing of our international awards programs,” said Michael Gallagher, president and founder of the Stevie Awards. “The sheer number of nominations is matched by the increasing quality of those nominations. We congratulate all of this year’s Finalists.”

More than 2,100 nominations from organizations of all sizes and in virtually every industry were evaluated in this year’s competition, an increase of 11% over 2015. Entries were considered in 59 categories for customer service and contact center achievements; 51 categories for sales and business development achievements; and, categories to recognize new products and services and solution providers.

Finalists were determined by the average scores of 115 professionals worldwide, acting as preliminary judges. Several specialized judging committees, consisting of more than 60 members, determined the Gold, Silver and Bronze Stevie Award placements from among the Finalists.

The awards were presented to EFG on March 4, 2016 during a gala banquet at the Paris Las Vegas Hotel.

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Agent Summit Advisory Board Announced


LAS VEGAS — Organizers of the annual Agent Summit have released the names of the advisory board for the 2016 event, which is scheduled for May 9–11 at the Venetian Palazzo Las Vegas.

“The board was assembled utilizing the four past Agent Summit Keynoters and two Provider members that are expected to drive some fresh ideas,” said Randy Crisorio, president and CEO of United Development Systems Inc. (UDS), who will serve as advisory board chair for the fourth consecutive year. “When I reflect on what we’ve been able to accomplish in quality and participation, I’m as excited as ever to get Agent Summit VI in the fast lane.”

Crisorio will be joined by John Braganini, principal of Great Lakes Companies; Larry Dorfman, CEO of EasyCare; Eric Fifield, EFG Companies’ vice president of agency services; Joel Kansanback, president of Automotive Development Group (ADG); and Glen Tuscan, president of Dealer Commitment Services Inc.

In the coming weeks, the board will convene to discuss topics of importance to agents and agency heads and craft an agenda for the three-day event.

“In attempting to meet and exceed the quality of agendas past, Randy and his team have their work cut out for them,” said David Gesualdo, show chair and publisher of Agent Entrepreneur and F&I and Showroom magazines. “Luckily for everyone involved, they are perfectly suited to the task.”

Registration for Agent Summit 2016 is open at the event’s website as well as by phone, fax and email. Attendees who register by April 4 will enjoy a $100 discount. To inquire about sponsorship and exhibition opportunities, contact Eric Gesualdo via email hidden; JavaScript is required or call 727-612-8826.

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EFG Companies Powersports Research Reveals New Motorcycle Dealer Profit Opportunity


DALLAS – EFG Companies revealed key market insights to drive dealership profitability through a third-party research survey of 1,000 consumers who purchased a pre-owned motorcycle within the last 24 months on their perceptions surrounding Certified Pre-Owned programs.

Key Findings:

95% said the availability of a CPO program would impact the dealer from which they purchased their motorcycle.

85% of respondents said they would find a complimentary CPO valuable as a benefit provided by the dealer.

Survey respondents placed a high dollar value on the complimentary program benefit – 63% valued the program between $500 – $1,000.

56% of survey respondents would drive over 30 miles, and 33% would drive over 50 miles to buy a motorcycle that included a complimentary CPO package.

71% of respondents had familiarity with CPO programs due to past purchases of cars and trucks.

65% of those respondents said the CPO program made a difference in their past purchasing decision.

Top 3 factors in deciding which bike to purchase:

  • Price
  • Condition of bike
  • Bike mileage

About the Respondents:

2016 nationwide survey of 1,000 consumers who purchased a pre-owned motorcycle within the last 24 months

51% of respondents purchased their motorcycle directly from a dealership.

59% of the respondents paid cash for their motorcycle.

7% of respondents financed through the dealership to purchase for their motorcycle.

3% of respondents financed through an outside lender to purchase their motorcycle.

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EFG Companies Launches Certified Pre-Owned Program Through National Powersport Auctions


DALLAS, Tex. – EFG Companies, the innovator behind the award-winning Hyundai Assurance program, today announced the launch of a Certified Pre-Owned Program designed specifically to grow powersports dealer business and drive loyalty through National Powersport Auctions (NPA), the number one provider of auction and remarketing services in the powersports industry. For more information on the Certified Pre-Owned program, visit http://bit.ly/1PD7ory

Ninety-five percent of respondents in a recent third-party research survey said the availability of a program like this would impact their choice of dealer from which they would purchase their next pre-owned motorcycle. In addition, 56 percent said they would drive more than 30 miles to purchase a motorcycle covered by a CPO program.

EFG’s CPO program provides consumers with complimentary limited powertrain protection on name-brand pre-owned motorcycles. As an added benefit, motorcycles purchased by dealers from NPA with an overall NPA Condition Report score of 75 or higher will automatically be eligible for the program (brand, year, mileage, engine, transmission and frame score limits apply). These advantages will meet an expressed customer need, while driving potential revenue and buyer traffic for dealers.

How It Works

Dealers purchasing a CPO-eligible motorcycle from NPA can simply opt-in to EFG’s CPO program to retail the motorcycle as Certified Pre-Owned. As a result, dealers will have the opportunity to market used inventory with quality CPO motorcycles, of which 63 percent of survey respondents place a higher dollar value between $500 and $1000.

“This CPO program supports powersports dealers’ dedication to providing their pre-owned motorcycle customers a value-driven customer experience, which is necessary for growth and profitability,” said Jim Woodruff, chief operating officer of NPA. “This new program reflects NPA’s mission to better support dealers by offering the easiest, most cost-effective way to build and manage pre-owned vehicle inventory that sells.”

“As the powersports market continues to recover, we know dealerships need showroom traffic now,” said Glenice Wilder, vice president of powersports, EFG Companies. “Our CPO program provides dealerships with an immediate means of capturing market share based on current consumer drivers. We are motivating customers to make a purchase based on value that they can only get with a strong CPO program, and our relationship with NPA makes it easy for dealers.”

When a dealer opts in to EFG’s CPO program, they will have the opportunity to upsell to a full vehicle service contract. This covers the cost of the CPO program for the dealer entirely, and gives them another opportunity to generate higher F&I profit.

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EFG Named to Dallas Morning News’ ‘Top 100 Places to Work’ List


DALLAS — F&I product provider EFG Companies was named to the Dallas Morning News’ list of Top 100 Places to Work, marking the ninth national award the company has earned this year for excellence and customer service.

“EFG’s awards and certifications reflect our intense focus on operating in our clients’ best interest at all times. You don’t always see that in our industry,” said John Pappanastos, president and CEO of EFG Companies. “EFG’s most powerful asset is its client engagement model that requires uniquely qualified and motivated professionals. Our values drive us, and we welcome and expect measurement of our impact on our clients’ profitability and success.”

According to company officials, a recent Troubadour Research and Consulting client satisfaction survey showed EFG’s net promoter score ranked higher than Southwest Airlines, USAA Banking and Insurance, and Nordstrom.

In addition to being named a Top 100 Places to Work, EFG Companies’ other notable recognitions and awards this year include:

  • F&I and Showroom magazine’s F&I Dealer of the Year Award for EFG client, Davis-Moore Automotive
  • First product provider certified as a Center of Excellence by Benchmark Portal
  • First product provider awarded the National ASE Blue Seal of Excellence
  • One of the first hundred companies in the US to achieve Consumer Credit Compliance Certification from the National Association of Automotive Finance
  • Three Stevie Awards for Top Field Sales Team, Contact Center of the Year, and Business Development Achievement of the Year
  • Powersports Business Nifty 50 Product Award winner
  • SubPrime Auto Finance News Top 125 Most Influential Firms

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