October Business Partner Spotlight: Fortegra
The featured Business Partner for October is Fortegra, a trusted partner of the consumer credit industry for over 40 years. Fortegra offers the strength and stability you need in an insurer, the collaborative approach you want from a partner. We asked them a few questions about their business and what they’re seeing in the economy.
- What is the most important issue facing your company right now?
COVID-19 continues to be front of mind for businesses, in the US and globally. As a Florida based company—with hurricane risk—we are always prepared for business interruptions. So we were able to quickly transition staff to work from home. We also had cross-training plans in place that allowed us to ramp up our claims department to handle the increase in credit protection product calls such as IUI. Providing excellent service to our customers, while protecting our employees continues to be our priority during this pandemic.
- What are some key trends your company is tracking?
As a product company, we monitor and participate in the policy debates that affect the availability of credit insurance, GAP, VSC and other products offered through financial institutions. All-in APR rate caps has been a critical issue at the CFPB and State legislatures for the past few years and continues now, with Congress giving new life to the issue. Fortegra participates directly in these public policy debates, participates through AFSA events, and retains our own DC lobbyists to amplify the message in DC. We also built a robust training platform to support compliant sales practices. On the more positive side, we actively work with partners as they engage in new sales platforms for our products, whether online, via a smartphone app or even live checks. We continue to see new approaches brought to use and strive to support our partners regardless of their preferred sales platform.
- Why did your company join AFSA?
We believe that AFSA provides a collective voice for lenders and credit insurers that helps shape responsible lending policy, ensure competition and provide quality, affordable products and credit education to consumers. We also believe the best products are built through communication and AFSA gives the lending community that opportunity.
- How has being an AFSA Premier Partner benefited your company?
Experience matters. We can tell you how our 40 years in business can benefit you, but isn’t it better if we show you? The AFSA Premier Partner membership gives us the opportunity to not only meet potential partners, but truly connect, to not just tell you about our team’s experience, but show you. Through AFSA we’ve had the opportunity to develop meaningful relationships, and demonstrate to our partners and potential partners our unwavering commitment to this market and their success.
October 1st, 2020 by Dan Bucherer