Custom reinsurance strategies that enhance dealer impact from EFG
Your business is unique — and so are your reinsurance needs. That’s why EFG takes a custom approach to developing and managing your own reinsurance strategy. Each EFG reinsurance solution is underwritten by A.M. Best A-rated insurance companies and is designed especially for each dealer, lender, and agent we serve. By equipping our client partners with the tools to share in the profitability of the consumer protection solutions they sell, EFG has helped them earn millions in reinsurance profits. Our broad portfolio of services includes:
Profit participation programs
EFG’s profit participation programs allow dealers, lenders, and agents to either:
By directing all or part of the premiums generated from consumer protection products back into their businesses, our clients are better positioned to build wealth over the long term and enhance dealer impact. With over three decades of industry insight, EFG Companies is a leader in the creation and management of these programs.
Reinsurance vs. retrospective agreements
While the term “reinsurance” is commonly used to refer to both reinsurance and retrospective structures, it’s important to understand the difference. EFG offers two kinds of profit participation plans:
Reinsurance plans increase dealer impact
Retrospective plans increase dealer impact
Take ownership of your profitability
For years, the concept of profit participation programs has been gaining momentum among dealers, lenders, and agents. It’s also been earning accolades in the industry as a smart way to increase profitability while reducing your risk. In fact, in a 2003 Automotive News article detailing the collapse of a major service contract provider, the author stated that those who had their own reinsurance companies had their funds available to pay claims, while others with no backup funding generally had to eat those costs. This is a powerful example of the financial security that profit participation programs can provide. And with EFG Companies as your partner, that’s just the beginning.