CHESTERFIELD, Mo. - The Asset Protection Division of Protective Life Insurance Co. has entered into an agreement with MAPFRE Asistencia, under which the companies will work together to develop and market vehicle service contracts and related insurance products outside of the United States and Canada. The two companies are collaborating on product development, retail distribution, reinsurance, contract administration and training solutions. John D. Johns, chairman, president and CEO of Protective, said: "MAPFRE is one of the most highly regarded insurance providers in diverse markets globally. We look forward to working collaboratively with the MAPFRE team to open new growth opportunities for both companies as a result of this new cooperative relationship." "We are sure that, with this collaboration, both entities will enlarge our capabilities in order to become a standard in the vehicle service contract industry all around the world," said Jose Manuel Martinez, president and CEO of MAPFRE. "Protective is a very well-respected company within the insurance market and its knowledge on underwriting and training will place our subsidiary, MAPFRE Asistencia, in the best position for jointly presenting the most attractive solutions to OEMs and dealers outside of the United States and Canada."
Protective and MAPFRE to Cooperatively Develop Insurance Products
More Industry
A New Consumer Culture in the Auto Dealership
Dealers should aim to build a positive work environment, helping employees execute an efficient experience, from their online research to the final delivery of the vehicle.
Read More →
New-Vehicle Sales Down
A cloudy April forecast was expected due to last April’s sales surge in anticipation of U.S. trade tariff-inflated prices. Meanwhile, automakers pumped up incentives to address today’s consumer wallet woes.
Read More →
Used Autos Selling for More
A recent price spike due to several larger market forces, though it hasn’t dulled demand, is pushing more consumers to efficient models to squeeze in buys.
Read More →
Maryland Auto Group Sells
A group out West picked up the major D.C.-area collection, putting it in the upper tiers of private automotive groups in the U.S.
Read More →
Auto Lending Opens Up in March
Lenders loosened access for subprime borrowers, and consumers with negative equity reached a record high, Cox Automotive reported.
Read More →
EV Interest Varies Regionally
U.S. consumer interest in electric vehicles lags behind other countries despite the rising gas prices caused by the ongoing war in the Middle East.
Read More →
Brands Weighed on Projected Recalls
Research reveals the brands and models most likely to have higher recall rates over their lifetimes. While some brands rank high, addressing safety issues can be a selling point.
Read More →
March New-Vehicle Sales Don’t Reflect War
Cox Automotive data shows Americans doubled down on big-is-better despite price increases. Slightly higher incentives helped fuel the demand.
Read More →
Franchised Dealers Stand to Gain Service Business
Cox Automotive research shows both the opportunities and the challenges in turning consumers’ growing affordability needs into increased fixed-operations revenue.
Read More →
What Matters Most in Building Your Agency
The partner you choose for growth and expansion is key, because better is the ultimate goal instead of growth for growth’s sake.
Read More →