EFG launches administration platform for powersports product providers
EFG Companies has introduced a new product administration platform designed to help powersports product providers, administrators and marketers expand their offerings without adding operational infrastructure.
Called EFG Admin Solutions, the platform provides turnkey administrative services for companies looking to launch or expand vehicle protection products, including white-labeled vehicle service contracts (VSCs) and GAP products. EFG said the platform is intended to shorten time-to-market while helping clients enter new markets and grow revenue.
The company handles claims administration, compliance, state filings, licensing and lender approvals, allowing customers to focus on sales, distribution and dealer relationships.
“Launching a new product program requires significant investment across state and lender regulatory filings, underwriting, actuarial development, and internal systems development — often costing tens to hundreds of thousands of dollars,” says Jay Hartmann, chief operating officer of EFG Companies. “EFG Admin Solutions removes that burden, giving clients a ready-to-deploy path to expand their offerings under their brand without the time, cost, or operational complexity.”
According to EFG, the platform enables companies to launch branded, compliant products while expanding into new markets without increasing staffing or overhead.
With nearly 50 years of experience in consumer protection and claims administration, EFG said its administrative platform is designed to manage the complex federal and state regulatory requirements associated with vehicle protection products. The company said the service helps reduce compliance risks while providing powersports dealers access to a broader range of protection products through their product providers and administrators.
