RVI Group elevated one of its experts this week to lead its passenger vehicle insurance and analytics businesses.
Now under the leadership of Wei Fan, the firm announced its passenger vehicle insurance and quantitative analysis teams — which partner closely on business development and operations of RVI Analytics — are being consolidated. The company explained this move will allow RVI to capitalize on the analytics business including its Used Vehicle Price Index (UVPI) data subscription products.
RVI Analytics was launched earlier this year in partnership with Maryann Keller & Advisors (MK&A) — also a member of the Automotive Intelligence Council. The company is looking to offer comprehensive industry analytics for firms with automotive-related interests.
Management went on to state this operational consolidation will create efficiencies and improve RVI Analytics' ability to provide industry leading services to its clients, especially the accurate assessment of risk in used-vehicle prices, providing critical input to capital markets, lenders and lessors.
“Bringing these teams together will allow us to be more agile, better serve our customers and improve our execution through increased collaboration,” said Michael McGroarty, co-chief operating officer of RVI Group.
“We are presenting more comprehensive used-vehicle price index data than anyone else in the industry, and I am confident that this streamlined structure will position us for optimal performance going forward,” McGroarty continued.
Prior to joining RVI, Fan was the director of Used Vehicle Market Solutions for J.D. Power & Associates. Since 2007, Fan has had extensive experience with RVI’s passenger vehicle insurance and analytics business as the head of the quantitative analysis team.
“With an excellent track record at RVI, Wei is uniquely qualified to lead the passenger vehicle and analytics businesses at RVI. I look forward to their success,” said Douglas May, chief executive officer of RVI Group, which is among the companies set to be a part of Used Car Week 2018 — Education, Celebrations, Technology and Connections.
Discussions about wholesale pricing and elements through the remarketing chain are on tap for Used Car Week, which begins Nov. 12 at the Westin Keirland Resort and Spa in Scottsdale, Ariz.
Early bird discounts are available through Oct. 16. Complete details can be found at www.usedcarweek.biz.