Reinsurance is an absolutely vital part of a profit savvy car dealers business model.
You are a good candidate for a Reinsurance Company if you meet the following criteria.
Wanting to own the underwriting income of your F&I products
Will actively participate in reinsurance loss control measures suggested
Is looking to defer and reduce tax obligations
Is interested in long term profit opportunities
Produce a minimum of 25 Vehicle Service Contracts or 50 GAP contracts per month
Why is Reinsurance a SMART business decision for car dealers if you’re a Franchise or Independent?
There is a significant amount of profit and added benefits increasing customer loyalty which impacts your business reputation and profit.
What is the advantage of owning a Reinsurance Company for your dealership?
Ownership of a Reinsurance Company is a way to keep a greater share of the profits that a vehicle service contract business produces. The dealer cost of a service contract, without a Reinsurance Company, is an expense to the Dealer. With a Reinsurance Company, a large portion of the premium is placed into your Reinsurance Company. With claims cost averaging 40-50%, this will leave your Reinsurance Company a substantial underwriting profit, as well as investment income potential and additional tax savings.
Franchise Dealer with an existing Reinsurance program in place Schedule a simple pro forma consultation to see if you are getting the most value out of your current plan. See if your plan matches your goals for the plan. Have your goals changed since you first started Reinsurance?
What products Profilocity can put in my Reinsurance Company?
- Tire & Wheel
- Key Replacement
- LifeTime Wrap
- LifeTime Engine
- Lifetime PWTR
- Connected Car Program
We help set up, training, ongoing support, and continued education.
Independent Dealer and BHPH Dealer For a BHPH or LHPH dealer. Have you had a customer wreck a vehicle with no insurance and you were left holding the expense and nowhere to turn. Have you done everything right, tracking insurance making the customer pay the insurance company to find the company denies a claim leaving you with the LOSS? Have you fought the process of tracking insurance trying to get in touch with insurance companies, looking at mail, updating systems, sitting on hold to then get the insurance company paid by the customer in case there was a wreck you would be covered? All these painful risks and expensive exposure to your dealership can be eliminated and make you significant profits with one key decision. Set up your own Reinsurance company with Profilocity.
What products can I sell in my Reinsurance?
- Collateral Protection
- Loss Damage Waiver
- Vehicle Service Contract
- Vehicle Limited Warranty
Profilocity offers the best service and most reputable Warranties in the business.
Our partner has been in business 35 years and pays claims! The pricing is outstanding and the service is unmatched. Let us set you up today so you can sell warranties to your customers that you can make money on as well as having the peace of mind to know your customers are covered and your claims will be paid.