Reinsurance expert joins RoadVantage as director of participation programs
An expert in crucial dealership functions such as accounting and dealer-owned warranty companies joined the team at RoadVantage this week.
The F&I product provider announced the addition of Richard Ostrowski as director of participation programs.
Ostrowski arrives at RoadVantage boasting a long and accomplished career spanning four decades.
After becoming a certified public accountant in 1989, he joined Aon Corp. (Pat Ryan and Associates) where he gained knowledge of credit life and disability reinsurance sold to dealers. In 2003, Ostrowski moved to Protective Life Insurance Co., eventually serving as second vice president of reinsurance and general accounting and providing assistance and advice to automotive clients on retros, CFCs, NCFCs and DOWCs.
Ostrowski has worked with VSC, GAP, ancillary and credit products to develop participation solutions for many different scenarios. His area was responsible for completing reinsurance agreements, cession settlements, financial statements, tax returns, billing statements, retro statements and commission statements.
While with Protective, Ostrowski also developed a system that centralized reinsurance and retro contact information in one location for the division, developed multiple investment portfolios for dealers to invest their reinsurance funds with a large national bank, and developed other efficiencies that allowed dealers an easier way to do business with the company.
Furthermore, Ostrowski led his reinsurance group through multiple tax issues, including Notice 2016-66 compliance, audits and the treatment of ancillary programs.
“We are ecstatic to have Richard Ostrowski on board with us as director of participation programs,” RoadVantage chief executive officer Garret Lacour said. “With Rich’s well-respected reputation, our award-winning company is looking forward to providing even more leading-edge advice and guidance in all areas of participation.
“Adding his skills and knowledge is another vital step in our efforts to lead the market in all areas to benefit our agent partners and their dealers.”
Ostrowski also shared his perspective about coming aboard with RoadVantage.
“RoadVantage is a company that has impressed me by its growth. The feedback from the dealer community shows that it has a tremendous reputation in the industry,” he said.
“I’m truly excited to lend my experience to help it grow even further,” Ostrowski added. “I’m looking forward to using my knowledge and expertise to create solutions within RoadVantage’s participation programs to meet the needs of each individual dealer.”
For more information, visit www.roadvantage.com.