Reinsurance is one of the hottest topics (and money makers) in the automotive industry today! Although they are growing in popularity there are many dealers who still do not know of the many advantages of Reinsurance. Automotive News recently reported that Northwood University will begin tackling the deficit of Reinsurance knowledge by offering curriculum centered around Reinsurance Companies, focusing on dealer reinsurance strategies around wealth creation, family trust planning and business expansion.
“Reinsurance is rapidly becoming not only a vital part of dealer’s profitability, but an integral component of a dealer principals overall wealth management strategy and estate planning. In fact, many dealers can find their reinsurance company to become worth as much as their dealership,” remarks Nick D’Amico, President of Automotive Assurance Group.
Many programs from the manufacturers and other providers offer little or no underwriting profit for your dealership. They would rather keep those profits for themselves. We specialize in partnering you with the right provider for your business, one that will give you the underwriting profit and investment income. Offering your own reinsurance protection plans means you can participate directly in the underwriting profits, investment income and own the whole book of business. Owning your own Reinsurance Company will enable you to increase your profit on each sale through the underwriting of insurance for Vehicle Service Contracts, and other related products.
Automotive Assurance Group has been experts in setting up Reinsurance Companies for over 20 years. We understand setting up a reinsurance program can be a complex task, but we will handle it for you from start to finish. Beginning with the formation of an offshore reinsurance company, we will advise you on our progress each step of the process, and train you and your staff on selling techniques and compliance with standards and regulations, and finally monitor your performance on a monthly basis to help you optimize your profits. Call Automotive Assurance Group to get started with your own Reinsurance Company today!
