Case Study 2
The captive finance house of a global vehicle manufacturer.
The client was looking for a product to sell in Europe that would enhance the relationship with their customers, offer real value in protecting their assets, and at the same time generate an income stream for the captive and dealers.
We developed an innovative product to fit with and enhance the client’s leasing offer, which was not previously available in the countries in which the client was operating. Our product was backed with A+ rated insurance* underwritten through our sister company Great American International Insurance DAC.
We assigned a dedicated Client Manager to guide the client through the whole process from product design and policy underwriting to implementation of the new product and claims handling.
Our in-house Compliance team with its depth of knowledge and regulatory experience was invaluable in providing guidance on different market norms, local regulations and insurance tax regimes across the various jurisdictions.
The product was implemented in a number of European territories within a tight deadline, giving the client a competitive edge and a meaningful additional revenue stream. Through our experience and input, the client received a consistent programme across different countries while at the same time complying with local regulatory and market norms. The programme has been expanded to four countries, and to incorporate another asset class in all four, and the client is now actively seeking to expand the programme into other European territories.