SCOTTSDALE, Ariz. — CNA National (CNAN) paid more 400,000 claims in 2017, a year in which the F&I product provider introduced its new Z2 Series vehicle service contract program, processed one million contract transactions and passed the four million mark for VSCs in force.
In its annual recap, the F&I product provider said it has now paid more than $3 billion in claims for all product lines since the company’s founding in 1982 — a majority of which was paid to its dealers on behalf of customers took advantage of the F&I protections those dealerships sold them.
The company’s Z2 series VSC program was launched last April and represents the “top tier of vehicle service contracts,” noted Alan Miller, the company’s senior vice president of sales. “With comprehensive benefits and deductibles that encourage customer loyalty, our VSC program will both help a dealer’s customer satisfaction and ensure our continued position as the industry leader,” he said.
Last year also saw CNAN add key executives to its board of directors, including CIO Jim Lee; Chief Development Officer Keith Mahoney; Senior Vice President of Customer Service Center Trace Thaxton; Vice President of reinsurance Rob Hehr; and Vice President of Product Development Rose Larsen.
The company also promoted longtime employee Mike Bacosa from senior manager of its claims department to vice president of claims.
As for technology, the company launched a new public website as well as new portals for its agents and dealers. The company also overhauled many of the applications used by both its agents and dealers to conduct business and offer CNAN products to consumers.
CNAN capped off the year by winning Diamond awards for “Best Service Contract Provider” and “Best Reinsurance Provider” in Auto Dealer Today’s 2017 Dealers’ Choice Awards, bringing its award count in the magazine’s annual competition to 22 — 16 of which are first place honors.
“2017 was a year of significant achievements across our company,” said CNA National President and CEO Joe Becker. “With the addition of many new skilled staff members, a continued winning track record, the launch of Z2, as well as advancing our technology, CAN National is poised to effectively execute our goals and meet greater success in 2018 and beyond.”
Originally posted on F&I and Showroom