Aon Warranty Group, a subsidiary of Aon Corp., has announced the formation of Combined Automotive Group. According to Aon, Combined Automotive Group (CAG) represents a collection some of the automotive industry's premier providers of products, services and training including Resource Dealer Group, First Extended Corporation, Combined Automotive Group Training, Combined Automotive Group Services and Combined Reinsurance.
CAG will become a subsidiary of Combined Specialty Corp., with the spin-off of Aon's underwriting companies planned for the second quarter of 2002.
This pooling of competencies will allow CAG to creatively respond to the needs of individual dealers, consolidators, public-held companies and manufacturers, according to David Cole, chairman, president and CEO of Aon Warranty Group.
"With each entity demonstrating benchmark efficiency, the benefits to clients and future clients will be significant," Cole said. "Bringing together these world class companies under the Combined Automotive Group banner confirms the progression of each to best practice status in their respective disciplines.
"As a clear demonstration of my commitment to the success of this new initiative, and in addition to my other duties, I will immediately be assuming the responsibilities of CAG president and CEO. Accordingly, I have realigned executive responsibilities within the reporting companies to best fit our strategic objectives. With the competencies represented at all levels, this new structure will assure best of class performance at all business units," Cole said.
Resource Dealer Group (RDG), founded in 1964 as Pat Ryan & Associates, provides both branded and private label products both insured and non-insured.
Additionally, RDG provides specialized programs sold through or to automotive dealerships and dealership consolidators, vehicle distributors, manufacturers, and maintenance and repair centers.
RDG offers credit life and disability insurance, extended warranties and maintenance agreements, guaranteed asset protection (GAP), and producer-owned reinsurance.
RDG's products are underwritten by Virginia Surety Company, Inc. and administered by subsidiaries of Combined Automotive Group, Inc. Resource Dealer Group says it is North America's largest independent provider of automotive service contracts.
First Extended, founded in 1974, is an administrator of extended service contract products and services for automobile dealers, consolidators and public companies sold predominantly through a network of independent agents and dedicated sales and marketing staff.
First Extended provides services including new vehicle service contracts, pre-owned vehicle service contracts, oil service plans and Guaranteed Asset Protection to more than one million vehicle owners.
Combined Automotive Training (CAT) provides specialized training and consulting services to dealers, consolidators and manufacturers utilizing what it calls "a highly effective interactive adult learning model."
Drawing on the knowledge base of Pat Ryan & Associates and Resource Group Training, CAT's certified instructors provide training in financial services, sales, service and management to over 5,000 students annually at client locations as well as training universities in Phoenix, Dallas and Chicago.
Combined Automotive Group Services
offers administrative services for all the products marketed through the group. Utilizing Web-- and telephony based technology to intelligently route claims and speed adjudication, Combined Automotive Group Services provides benchmark processes to facilitate revenue flow and enhance client and consumer satisfaction.
Combined Automotive Group Reinsurance
provides dealers, consolidators and manufacturers with alternative financial structures designed to allow them to maximize the profit potential from the sale of financial services products. These programs offer a complete range of turnkey reinsurance and retrospective commission vehicles to achieve the producers’ objectives.
"With the collective competencies of these companies, Combined Automotive Group represents an unparalleled resource for automotive clients of any kind," Cole said. "Focused on profit improvement and customer satisfaction, each is founded on extensive industry experience and measurable client impact."
Aon Warranty Group is a wholly owned subsidiary of Aon Corp., providing products and services to the world's premier automotive, home, consumer electronics and recreational industries among others. With more than three billion service contracts managed worldwide, Aon Warranty Group says it is the world's leading independent supplier of warranty and customer relationship programs.
Aon Corporation (www.aon.com)
is a holding company that is comprised of a family of insurance brokerage, consulting and insurance underwriting subsidiaries. Aon's common stock is listed on the New York, Chicago, Frankfurt and London stock exchanges.
