There are a number of profit participation programs to choose from. Do you have the right partner to maximize your program’s profit potential?
Have you been looking for a profit participation program that can benefit your company? You’d think they’d be easier to find—but with many so-called ‘partners’ limiting your potential with restrictions and a resistance to share profits, where can you find an advantage?
At Fortegra, we can deliver the kind of profit participation our partners are looking for because as an underwriter we’re fully-engaged from start to finish, and willing to work to mitigate program risks so we can all share profitable results.
Here’s a brief look at the various types of profit participation programs we offer:
Profit Share Program: Sometimes referred to as a ‘retro plan’, a profit share program presents a straightforward profit share agreement without hidden administration costs or loss adjustment expenses. A traditional, but proven option that Fortegra can help you enjoy to its fullest potential.
Controlled Foreign Corporation (CFC): With the capability to provide a wide range of reinsurance services or just be the Insurer, Fortegra has been able to offer the right solution to hundreds of producers. We provide competitive ceding fees on a percentage or flat dollar basis and can reinsure in any country of domicile. Funds are held in an NAIC approved Bank/Trust Custodian.
Non-Controlled Foreign Corporation (NCFC): Thought tobe a less attractive option than it once was, an NCFC can still prove a viable profit participation option. Fortegra still reinsures to NCFCs and our team would be happy to discuss your options with you.
Dealer-Owned Warranty Company (DOWC): While many insurance companies either won’t underwrite a DOWC or simply don’t understand them, Fortegra does. As an underwriter, we’re capable of evaluating this type of structure, assisting in the necessary framework, and providing the CLIPs to back the contracts. And in any DOWC agreement, we’re dedicated to being supportive of our administrators to ensure optimum success.
From First Dollar to Failure to Perform CLIPs, we’ve got the expertise to provide the right program to fit every client’s need. Contact us today to find out how our profit participation programs can help your company Experience More!