EFG Companies, the innovator behind the award-winning Hyundai Assurance program, together with Northwood University, today announced student competitors and F&I mentors participating in the first annual F&I Innovator of the Year Award competition.
The competition will pit six teams of Northwood’s junior and senior undergraduate automotive marketing and management students against one another to conceptualize and build a new F&I product while earning course credit.
Each team includes an F&I director who will serve as a mentor and provide beneficial insight into the daily inner workings of automotive F&I.
“Because of their practical experience within dealerships, the mentors’ knowledge will be invaluable to the teams,” said John Pappanastos, President and CEO, EFG Companies. “The directors will help the teams understand compliance and its increasing impact on F&I, the changing profile of consumers, and the focus on client retention.”
The teams and mentors include:
| Team | Students | Mentor/Dealership |
| AutoMates | Gordon Jenks Drake Green Victoria Pretty |
Tim Ososanya, Bob Moore Auto Group |
| Furthering Innovation | Matt Brown Jaclyn Suchta Tyler Scott |
Adrian Peterson, Moritz Dealerships |
| Quantum Integration | Collin Ullvund Richie Durso Jon Vollmuth |
Caleb Hargreaves, Hanlees Auto Group |
| Car Conglomerate | Sarah Trierweiler Kayleen O’Boyle Austin Kelly |
Dena Moore, Davis-Moore Auto Group |
| Team 4 | Audrey Moses Harry Collins Mark Ruhle |
Jeff Zinsser, Star Cars of Abilene |
| Team 6 | Geoff Wallace Ryan Holton Matthew Stickney |
Craig Drew, Central Maine Motors AutoGroup |
“The students selected to participate in this inaugural F&I Innovator of the Year competition represent the best and brightest at Northwood University,” said Elgie Bright, Chair of the Automotive Marketing and Management Program, Northwood University. “Each student maintains a 3.0 GPA along with internships and several other extracurricular activities. We are excited to see what these students bring to the table.”
About the competition
The competing teams will be tasked with developing a business case for their new F&I product. The students must research, rationalize and demonstrate the market viability of the new product, and its potential to facilitate F&I product sales in franchise dealerships. Teams will upload video diaries weekly to YouTube, chronicling their progress, challenges and breakthroughs.
The competition runs through November 13, 2015 when a panel of leading dealer principals, EFG executives, and Northwood’s automotive program educators will judge each team’s business case. EFG Companies will award the winning team $25,000, and will develop the winning F&I product for the retail automotive marketplace. The company will also return a percentage of the product’s revenues to Northwood University.
Bookmark the F&I Innovator of the Year YouTube Channel to see the teams’ weekly videos: http://bit.ly/1E5zix0
Follow @EFG_NWInnovator on Twitter for the latest competition news.