Agent Entrepreneur
Welcome to the November 13th, 2017 issue of Agent Entrepreneur, a monthly eMagazine dedicated to the interests and concerns of general agents and entrepreneurs in the automotive finance and insurance industry.

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Featured Articles
Tomorrow Belongs to the Connected Agent
Agent principal lists three opportunities for agents to add value to dealer clients.

By: Glen Tuscan

As an agent, how are you going to survive in the next five years? Looking to the future, what confidence do you have that you will not only survive the massive technological and process changes confronting our industry but also thrive in your relationships with ... Read More »
New Outlook on Leasing Opportunities
Agents are adjusting their F&I training programs to address the 29% of new-car buyers who opt for a lease.

By: Joshua Sonnier

In the agent’s version of a perfect world, every opportunity in the business office with a customer would unfold smoothly. F&I professionals would present products in a compliant and consistent manner, and customers would get the products they need to protect their investments. Or better ... Read More »
How to Answer Dealers’ Compliance Questions
No agent wants to be a compliance cop, but every agent should be a compliance monitor. Compliance expert offers useful answers to four common compliance questions.

By: Gil Van Over

As trusted advisors to dealers and the dealerships they own, they look to us to provide expertise in a number of areas. We are smart enough to know what we know and how to look for help for those things we do not know. For ... Read More »
Deconstructing IRS Notice 2016-66
Use this primer to get up to speed on the IRS’s latest change to reinsurance tax law.

By: Andrew Weill

In November 2016, the IRS promulgated Notice 2016-66 designating certain microcaptive transactions to be “transactions of interest,” mandating certain reporting requirements. To be a microcaptive involves two components: “Captive” insurance is an insurance relationship between an insurer that accepts the risk of its owner or ... Read More »
Summit Updates
Randy Crisorio to Serve Sixth Term as Chair of Agent Summit Advisory Board
LAS VEGAS — Randy Crisorio, president and CEO of United Development Systems (UDS) will return as advisory board chair for next year’s Agent Summit, organizers announced. The event will be held May 20–23, 2018, at the Venetian & Palazzo Resort Hotel Casinos in Las Vegas. ... Read More »
Agent Summit Names Harkins as Emcee
LAS VEGAS — Organizers of the upcoming Agent Summit have announced that Robert “Bob” Harkins, vice president of training for the American Guardian Group of Companies, will return as master of ceremonies for the 2018 event, which is scheduled for May 20–23 at the Venetian ... Read More »
F&I Success
What Sank the Titanic Will Sink Your Dealers!
An iceberg sank the Titanic, but it wasn’t the only factor. Learn how to prevent the F&I teams you train from sharing the doomed ship’s fate.

By: Rick McCormick

“Iceberg, right ahead!” is the shout Fred Fleet, the lookout for the ill-fated Titanic, is said to have given when he saw the ship’s doom ahead. How could the Titanic, such a large and well-designed ship, ever sink? History tells us numerous factors may have ... Read More »
Blockbuster Customer Service!
Agents must help dealers avoid Blockbuster’s fate by putting the customer first and being willing to change the F&I process to suit their wants and needs.

By: Rick McCormick

In 2000, Blockbuster was on top of the world of video entertainment. The founder of a fledgling company called Netflix flew to Dallas to meet the CEO of Blockbuster with a proposal that the two companies forge a partnership. The record shows he was laughed ... Read More »
Hot Tips
Cell Phone or Stapler Technique
Gerry Gould of UDS with this week's tip!

Today I'd like to talk about technology again. Tech-nol-o-gy, okay. One of the things you should begin right now with your next customer is, before you present anything to the customer ...

Watch the Tip Here »
A Proper Disclosure
Gerry Gould of UDS with this week's tip!

So you want to increase CSI, you want to decrease CITs? You want a customer satisfaction and you want to get contracts and transit done right away ...

Watch the Tip Here »
Small Business Tips
Bigger Than Baseball: Leadership Lessons From The 2017 World Series
Last week’s World Series is now history. But before you turn the page on that baseball story, take one more look, in the context of a bigger conceptual map. The tale has some interesting strategic lessons about a paradigm broader than our national pastime, about leadership in a world increasingly dominated by automated intelligence and the ... Read More »
First Things First: The 5 Secrets to Prioritization
Time is money and for entrepreneurs starting out, it is imperative both are utilized to their fullest. To maximize both, founders must prioritize, reports Entrepreneur. When we first started out, we were wrestling with some problems on how to build our personal-finance website, NerdWallet. I got some great advice from my friend Drew Houston (the ... Read More »
5 Ways to Lead Even if You’re Not an Executive
As an entrepreneur, there has been a constant thought running through my mind. It’s about choice. Specifically, what choices do we make and why do we make them? We are always making a choice, no matter what, reports Inc. Not only is every action you take a choice, not doing something is also a choice. I ... Read More »
Focus On The Job You Have, Not The One You Want
Dress for the job you want, not the job you have is the old adage for how young go-getters should approach cultivating an appropriate corporate aesthetic. Even as workplaces get increasingly casual–the person occupying the job you want may well be wearing a hoodie and cargo shorts these days–the idea that on-the-job success involves focusing ... Read More »
6 Strategies to Resolve Conflict at Work
When you get a group of people together day after day, conflict is inevitable. The employees you so carefully screened during hiring interviews aren’t immune, either. They might have had the perfect answers to behavioral questions such as, “How do you handle conflict?” Unfortunately, polished interview responses don’t guarantee a harmonious workplace, reports Entrepreneur. Workplace conflict ... Read More »
12 Ways Successful People Get More Done Than The Rest of Us
Most of us know at least one madly productive person–someone who’s able to accomplish more in a couple of hours than the rest of us get done all day. And chances are that person is also quite successful, reports Forbes. It’s no accident that great work habits and success go hand in hand. Improving your ... Read More »
9 Ways To Show Your People You Value Them
Your people need more than a salary and fulfilling work to be their best. They need to know that you see the value in them as individuals and in the work they deliver, reports Forbes. Here are nine ways to show them you care: 1. Be interested. Getting to know what your people can do, ... Read More »
6 Steps to Managing Your Overwhelming Workload
Let’s be clear, being a successful entrepreneur is hard work — very hard work. From learning new tasks to managing employees and planning for future growth, there isn’t a lot of time in the day to make huge errors. That said, entrepreneurs can learn to work smarter, not harder, reports Entrepreneur. Here are six tips ... Read More »
Want to Be a Mentally Tough Leader? Develop These 6 Habits
Mentally strong individuals are also some of the best leaders. Not because of a specific style, but because the traits of a mentally strong individual are transferable across multiple spectrums of life, reports Inc. When it comes to leadership, it can be executed through a multitude of models and styles. With that said, at the ... Read More »
How Leaders Inspire Change In The 21st Century
Successfully leading lasting change in any organization is more complicated than ever before. And mastering the art of organizational transformation is a necessity in today’s more volatile, uncertain and complex global business landscape, reports Forbes. The workplace has become more digital, more diverse and more reliant on advanced technology, yet most organizations and their leaders ... Read More »
View All Small Business Tips Here
Auto Industry News
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. ... Read More »
GWC Warranty Takes Home Two 2017 Automotive Communication Awards
WILKES-BARRE, Penn.– GWC Warranty, the best-in-class provider of used vehicle service contracts sold through automotive dealers, received two 2017 Automotive Communication Awards at the Women’s Board Reception during AAPEX in Las Vegas on Tuesday, October 31. GWC Warranty’s company blog, Accelerate, won in the Business-to-Business ... Read More »
ADG Makes List of Fastest-Growing Companies
MINNEAPOLIS — Automotive Development Group has been named to the Inc. 5000 list of the fastest growing companies of 2017. This is the first time the company has been honored with a ranking on the list. The Inc. 5000 outlines the fastest-growing privately held companies from across the ... Read More »
Protective Launches New FPC Premium Marine Protection Program
CHESTERFIELD, Mo. — Protective Asset Protection has launched a new version of its longstanding marine F&I program, FPC Premium Marine Protection Program. The updated service contract program is available to marine dealers in all states except Washington as of Nov. 1, 2017. The program enhancements ... Read More »
CFPB: Longer-Term Loans Not Having Desired Effect for Borrowers, Finance Sources
WASHINGTON, D.C. — At F&I Think Tank 2017, held in Dallas on Sept. 14, F&I trainer Tony Dupaquier of The Academy revealed that the Consumer Financial Protection Bureau (CFPB) was actively monitoring the auto finance industry, performing audits to ensure finance sources are adhering to ... Read More »
KBB: Flat Prices, Higher Incentive Spending Signals Headwinds for New-Car Market
IRVINE, Calif. — Transaction prices continue to rise at a slower pace, with October’s estimated average transaction price expected to rise by $101 from a year ago to $35,263, Kelley Blue Book (KBB) reported on Tuesday. Compared to September, the firm expects the average to ... Read More »
Bodden Joins GWC Warranty Sales Leadership Team
WILKES-BARRE, PA. — F&I products provider GWC Warranty has promoted Cynthia Bodden to the position of area vice president of sales for the Mid-Atlantic region, the company announced. In her role, Bodden, previously the GWC Dealer Consultant in Philadelphia and Southern New Jersey, will work with GWC ... Read More »
Pearl Technology Integrates Experian Propensity Scoring Platform
DALLAS — Pearl Technology Holdings LLC today announced it has expanded its relationship with Experian to include information on consumer vehicle buying habits. The enhancement allows dealers to precisely target consumers that have the highest propensity to purchase or lease a vehicle within a specified ... Read More »
Daniel Flynn Named President of CDK North America
HOFFMAN ESTATES, Ill. — CDK Global Inc. today announced the appointment of Daniel P. Flynn to president of CDK North America. He currently serves as executive vice president of business transformation and succeeds Robert N. Karp, who is leaving the company. These changes take effect ... Read More »
ELEAD1ONE Releases Free Fixed Ops eBook
ATLANTA — ELEAD1ONE announced today the release of a free eBook for auto dealers. “Fix Your Phones & Boost Profit in Your Service Department” presents a compelling case for addressing phone processes and improving customer communications in the service department. In a recent CallRevu analysis ... Read More »
Study Finds Major Gaps in Call-Handling Performance
SEATTLE — Call analytics provider Marchex released an industry index report that benchmarks the call-handling performance of 16 major car brands. The study analyzed more than 8 million calls in the United States and found that more than 19% of calls went unanswered by the ... Read More »
Report: Dealers Are Less Progressive Than They Think
FOOTHILL RANCH, Calif. — A new auto dealership survey from eLEND Solutions offers a good news/bad news scenario for the future of digital retailing: dealers overwhelmingly say they are progressive and willing to adopt more digital retailing tools (84%), yet the majority define digital retailing ... Read More »
View All Auto Industry News Here
AE Featured Companies
Please click on a company logo to get more information.
American Auto Guardian, Inc. (AAGI) American Guardian Warranty Services, Inc. Arch Insurance
AUL Best Training Day Ever Classic Products
CNA National CSO Dealers Assurance Company (DAC)
EasyCare EcoProProducts Endurance Dealer Services
Entire Car Protection (ECP) F&I Administration Solutions F&I Express
GWC Warranty Impact Group Innovative Aftermarket Systems (IAS)
Line 5 MaximTrak Technologies National Auto Care
National Automotive Experts / NWAN Old Republic Insured Automotive Services, Inc. (ORIAS) Over the Edge
Portfolio Protective Asset Protection Reahard & Associates
Red Auto Dealer Services RoadVantage Safe-Guard Products International
Simoniz USA SouthwestRe StoneEagle
The Warranty Group – Resource Agent Group/ First Extended Total Dealer Compliance United Car Care (UCC)
Universal Lenders Vanguard Dealer Services Warranty Solutions
Wise F&I    
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