EFG Companies added to its executive team on Tuesday, hiring Karl Nilsen as vice president of underwriting.

Bringing more than 20 years of retail automotive underwriting expertise, EFG said Nilsen will partner closely with the company’s chief risk officer and actuarial resources to oversee and refine underwriting processes, develop proactive risk strategies, and leverage analytics to improve product underwriting performance and profitability.

Prior to joining EFG, Nilsen served as vice president of underwriting and risk management at Smart AutoCare.

Jennifer Rappaport, president and CEO of EFG Companies, highlighted the addition of Nilsen’s analytical skills to the company’s claims administration function boosts its potential to generate profit within its clients’ reinsurance positions while delivering valuable protection to contract holders.

“All economic indicators point to 2026 being an even more challenging year with lower year-over-year new and used vehicle sales on top of already tighter profit margins,” Rappaport said in a news release. “EFG is aggressively committed to delivering on our promise to help clients generate greater profit through its best-in-class resources, innovation, and client engagement.

Karl’s technical expertise, strategic thinking, and practical execution combined with his ability to transform complex environments into high-performing, data-driven outcomes will prove highly beneficial in our quest,” she went on to say.