Tag Archive | "F&I Products"

Craig Robinson Named President of AAGI


SCHAUMBURG, Ill. — American Auto Guardian Inc. (AAGI) announced that Craig Robinson, a 20-year veteran of the insurance and third-party administration segments, has joined the company as president. Tim Brugh, who has held the title of president since May 2013, moves into the CEO position.

Robinson started his career with Aon Warranty Group, driving operational results through dealership and manufacturer clients. He went on to manage clients such as CarMax, as well as all automotive, appliance and electronic, powersport, medical device and furniture third-party administrators on behalf of The Warranty Group’s wholly-owned insurance company, Virginia Surety Company.

In June 2011, Robinson was named executive vice president of the The Warranty Group’s Latin American region, a role in which he led all elements of the company’s business in Mexico, Central American and South America. Most recently, Robinson worked for the largest non-publicly traded dealer group in the United States before providing consulting and brokerage services to third-party administrators, private equity companies, and other business in the automotive aftermarket product industry.

In his new role as AAGI president, Robinson will coordinate strategy and development for AAGI’s products, services, and technology, as well as assume responsibility for the company’s day-to-day operations.

“I’ve had a tremendous amount of respect for AAGI for more than a decade,” Robinson said. “After many conversations with Tim regarding his vision for the company, I knew this was the right fit for me.

“AAGI is often referred to as the best company many people have never heard of. Well, that’s about to change,” he added. “We have enormous aspirations and I look forward to working with Tim and our entire team of automotive experts to capitalize on what’s been built to date. The sky’s the limit for AAGI, and I’m incredibly excited to help continue shaping the company into a dominant force in the automotive aftermarket space.”

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Craig Robinson Named President of AAGI


SCHAUMBURG, Ill. — American Auto Guardian Inc. (AAGI) announced that Craig Robinson, a 20-year veteran of the insurance and third-party administration segments, has joined the company as president. Tim Brugh, who has held the title of president since May 2013, moves into the CEO position.

Robinson started his career with Aon Warranty Group, driving operational results through dealership and manufacturer clients. He went on to manage clients such as CarMax, as well as all automotive, appliance and electronic, powersport, medical device and furniture third-party administrators on behalf of The Warranty Group’s wholly-owned insurance company, Virginia Surety Company.

In June 2011, Robinson was named executive vice president of the The Warranty Group’s Latin American region, a role in which he led all elements of the company’s business in Mexico, Central American and South America. Most recently, Robinson worked for the largest non-publicly traded dealer group in the United States before providing consulting and brokerage services to third-party administrators, private equity companies, and other business in the automotive aftermarket product industry.

In his new role as AAGI president, Robinson will coordinate strategy and development for AAGI’s products, services, and technology, as well as assume responsibility for the company’s day-to-day operations.

“I’ve had a tremendous amount of respect for AAGI for more than a decade,” Robinson said. “After many conversations with Tim regarding his vision for the company, I knew this was the right fit for me.

“AAGI is often referred to as the best company many people have never heard of. Well, that’s about to change,” he added. “We have enormous aspirations and I look forward to working with Tim and our entire team of automotive experts to capitalize on what’s been built to date. The sky’s the limit for AAGI, and I’m incredibly excited to help continue shaping the company into a dominant force in the automotive aftermarket space.”

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AmTrust Names Jackie Banks Vice President of Reinsurance for Special Risk Division


NEW YORK — AmTrust Financial Services Inc. today announced that Jackie Banks, an experienced F&I industry executive, has joined the company as vice president of reinsurance for its Special Risk division. She will be responsible for all aspects of reinsurance for the division, including sales support, training and development of staff, as well as general management responsibilities.

Banks joins AmTrust from Allstate Dealer Services, where she served as vice president of reinsurance sales and strategy. In that role, she directed all sales, training, and business development efforts related to reinsurance and other client participation programs.

“We are very excited to welcome Jackie to our team at AmTrust,” said Stuart Hollander, president of the AmTrust Special Risk Division. “Not only will she bring a tighter focus and expertise to our reinsurance activities, she will also be a great role model for all our employees and clients who come into contact with her.”

Banks added: “I am thrilled to be part of the AmTrust team. My entire career after earning my CPA designation has been spent in the industry, and I look forward to continuing that tradition by providing best-in-class solutions to AmTrust’s current and future clients.”

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‘Total Loss Protection’ at Center of NY Dealer’s $298K Settlement With State AG


ALBANY, N.Y. — Nissan of New Rochelle will pay more than $298,000 to settle claims that the dealership willfully defrauded 298 car buyers of a total of $276,127 by tacking on a window-etch program that included a “Total Loss Protection” benefit after customers had agreed to a price for the vehicle and often without their knowledge or consent, Attorney General Eric Schneiderman announced this week.

In addition to refunding the cost of the product, which varied from $215 to more than $5,000 per vehicle, the dealership’s owners have agreed to pay the state $22,084 in penalties, fees and costs. They also agreed to “certain reforms” of the dealership’s sales and F& processes.

“Consumers should not have to worry that they are being scammed into adding on bogus products and services when they purchase a car,” Schneiderman said. “Buying a car is already a major investment for many families, and tacking on thousands of dollars extra can become a significant financial burden. I am pleased that we are able to return hundreds of thousands of dollars in restitution to the nearly 300 consumers who were scammed and defrauded.”

According to Schneiderman, his office’s investigation into the 2015 complaint revealed that the product, described as a window- and windshield-etch program backed by a $3,000 or $5,000 guarantee against theft, was deceptive or outright fraudulent on at least three counts — tacking on the cost of the product without customers’ knowledge being one of them.

The regulator also charged that conditions and limitations related to the guarantee made it “essentially worthless.” The regulator noted that only one car buyer was issued credit under the program. The attorney general’s investigation also revealed that the “etching” of each vehicle’s VIN was actually a sticker affixed to the inside of a door or doorjam, and in many cases was not performed at all.

As part of the settlement, Nissan of New Rochelle’s directors have agreed to include full disclosures and explanations for each product and express consent on the car buyer’s part before any products can be added to the deal, according to the regulator’s statement.

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First Choice Car Care Launches High-Mileage VSC Plans


TAMPA, Fla. — First Choice Car Care today launched new five-year, 100,000-mile vehicle service contract (VSC) plans for vehicles up to 20 model years old and have up to 150,000 miles on their odometers.

First Choice Car Care is designed to appeal to buyers of older vehicles who desire investment protection at a reasonable cost, according to company officials. It also encourages dealers to retail units profitably they would otherwise wholesale for a loss.

“These plans help us sell an additional 50 to 75 high-mileage units a year, and because of their competitive pricing, they also help me close more subprime deals,” says Angela Barrett, lead finance manager for Jenkins Nissan in Leesburg, Fla. The dealership retails about 150 new and used vehicles a month.

Barrett added that the costs of the plan give the dealership more wiggle room when it comes to trades. “That can make the difference for a prime deal, because now we have a retail outlet for these cars,” she said. “That makes us a reasonable front and back profit on units we’d otherwise have to wholesale at a loss.”

Part of the Consator Group of Companies, First Choice Car Care covers eligible vehicles 20 years and newer and have under 150,000 on the odometer when sold. It also offers five years investment and budget protection, and provides 50,000-, 75,000-, and 100,000-mile coverage options.

The First Choice Car Care VSC covers most domestic brands, including orphans and most luxury and import models. For either vehicle class, consumers can choose either a basic plan for powertrain, turbo/supercharger, and four-by-four and all-wheel-drive transfer case components, or the Enhanced plan. The later adds drive axle, air conditioning, electrical, and fuel system protection.

All programs include wear and coverage, towing, rental, roadside assistance, and trip interruption. And coverages may be transferrable to a new owner should the original purchaser sell the covered vehicle.

The First Choice Vehicle Service Contract program is administered by Allegiance Administrators. First Choice Vehicle Service Contracts are backed by Assurant, which has more than $30 billion in assets and is an “A”-rated carrier with A.M. Best.

For more, contact Lloyd Trushel, president of First Choice Car Care, at email hidden; JavaScript is required">email hidden; JavaScript is required

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Fidelis PPM, MaximTrak Announce Integration


SCOTTSDALE, Ariz. — Fidelis PPM, a CU Direct company, announced today that its retention-building prepaid maintenance software is now integrated into MaximTrak Technologies’ F&I platform.

This integration enables F&I departments using the MaximTrak platform to deliver e-contracting functions between systems, providing dealerships with a paperless solution for presenting, validating, and registering Fidelis products.

“Dealers who offer their customers Fidelis PPM-brand prepaid maintenance programs see first-year customer retention rates of 85% and 65% at year three — with significant growth in customer-pay service revenue as well,” says Ryan Williams, president of Fidelis PPM. “Now, dealers using MaximTrak have a proven customer retention and service revenue program that works even more efficiently and conveniently, and more easily measure results.”

Aside from improving customer service and the presentation of Fidelis’ product programs, the integration will provide users with sale-through performance results through MaximTrak’s reporting tools. Additionally, the connection will eliminate data transfer bottlenecks and delays.

“MaximTrak is the leading digital F&I platform and dealers using it to present products to car buyers consistently show increases in [profit per vehicle retailed] and product penetration,” said Jim Maxim Jr., president of MaximTrak. “We’re excited to now have the Fidelis PPM program integrated with this powerful F&I presentation and sales platform.”

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