Tag: Northwood University

EFG Companies and Northwood University Announce F&I Innovator of the Year Competition

Post author By efgmarketing
Post date August 18, 2015

Program to act as rallying cry for greater F&I innovation in the retail automotive space

EFG Companies, the innovator behind the award-winning Hyundai Assurance program, together with Northwood University, today announced an F&I competition designed to jolt the automotive industry into a higher standard of innovation.

The F&I Innovator of the Year Award, to be held annually, 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. A panel of leading dealer principals, EFG executives, and Northwood’s automotive program educators will judge each team’s business case in November. EFG Companies will award the winning team $25,000, and, more importantly, 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.

Tags CFPB, Consumer Financial Protection Bureau, EFG, EFG Companies, F&I, Finance & Insurance, John Pappanastos, Keith Pretty, Northwood, Northwood University

EFG Companies Featured

NAMAD and EFG Companies Announce First Annual Northwood University Scholarship Recipient

Post author By efgmarketing
Post date June 22, 2015

Northwood Sophomore, Javante Dilworth Selected Based on Scholastic Merit, Leadership & Fortitude

EFG Companies, the innovator behind the award-winning Hyundai Assurance program, together with the National Association of Minority Automobile Dealers (NAMAD), selected Javante Dilworth as the recipient for their Northwood University private donor scholarship.

The annual NAMAD scholarship will fund the remainder of Dilworth’s four-year tuition while he attends the Automotive Management Program at Northwood University, representing an investment of up to $100,000 from EFG. Dilworth is currently enrolled at Northwood pursuing a bachelor’s degree in Automotive Marketing and Management, and will be entering his sophomore year this fall.

“When I first found out that I was the recipient of the NAMAD Scholarship I was amazed and overfilled with joy,” said Javante Dilworth, sophomore, Automotive Marketing & Finance, Northwood University. This is really important to me because it opens up opportunities that are not always available. It is truly a great blessing.”

Dilworth was raised by his mother in Detroit, Michigan, and was accepted to Northwood based upon academic merit, without family or dealership connections. During his first year of matriculation, his mother was tragically taken from him. This thrust Dilworth into a very adult situation in which he quickly learned how to provide for himself. Throughout the year, he sought out various projects, volunteer opportunities and jobs on campus, including Northwood’s 2014 phone-a-thon, where he consistently demonstrated maturity for his age and strong leadership. Despite the challenge of losing his mother and having to support himself, Dilworth maintained a 3.0 GPA.

Tags Damon Lester, EFG, EFG Companies, John Pappanastos, Keith Pretty, NAMAD, National Association of Minority Automobile Dealers, Northwood, Northwood University

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EFG Companies and Northwood University Tackle Industry Deficit of Reinsurance Knowledge

Post author By efgmarketing
Post date May 4, 2015

Students learn dealer reinsurance strategies around wealth creation, family trust planning and business expansion

EFG Companies, the innovator behind the award-winning Hyundai Assurance program, taught Northwood University’s inaugural reinsurance class at the university’s Michigan campus on Apr. 20 and 21. Northwood University is home to the only accredited retail automotive marketing and management program in the U.S.

The two-part curriculum took students from the most basic definitions of traditional insurance (e.g. premium, commission, reserve, etc); to an overview of reinsurable F&I products like service contracts. This included global reinsurance domiciles all the way through to a comparative analysis of Controlled Foreign Corporations (CFC) and Non-Controlled Foreign Corporations (NCFC), as well as tax implications and reporting. The course consisted of instructor-led lectures and discussions, with a final exam that is a component of the students’ final semester grade. The course instructor, EFG’s Karen Klees, who is a reinsurance and certified consumer credit compliance specialist, will act as an ongoing professional resource for Northwood’s faculty and students.

Tags CFC, Compliance, consumer credit compliance specialist, Controlled Foreign Corporations, EFG, EFG Companies, F&I, F&I products, John Pappanastos, Karen Klees, Keith Pretty, NCFC, Non-Controlled Foreign Corporations, Northwood, Northwood University, reinsurance