One example of GMAC Insurance’s customer-focused programs is Smart Replacement. It provides policyholder and non-policyholder claimants needing a replacement vehicle with immediate access to reputable auto dealerships to locate one. Another is Smart Valet, in which we arrange for an alternate vehicle to be delivered to the customer and picked up following completion of repairs.

Channel breadth provides opportunities for future growth in Personal Lines. We’re expanding our footprint nationwide with more independent agents and additional states. We’re also shifting our direct marketing focus to include a broader universe of more than 80 million households. We’re expanding our insurance program for Michigan educators to other states. We’re leveraging our direct-channel recreational vehicle success in the independent agent channel. And we’re growing our commercial vehicle business through investment in staff, ease-of-use technology and entry into new states.

MIC works with automotive dealers and their customers worldwide to provide products and services. Worldwide, MIC markets vehicle service and maintenance contracts (VSC), such as the industry-leading GM Protection Plan and similar products offered through our Universal Warranty Corporation (UWC). Internationally, MIC’s portfolio spans additional offerings, such as auto insurance and other insurance-based products. MIC also services the insurance needs of our dealers’ businesses through GMAC RE by offering dealer inventory insurance. GMAC RE also offers reinsurance to insurance companies in the United States and abroad, including property/casualty products.

MIC has launched a number of initiatives and programs aimed at positioning the group for continued success. Most notably, in the past year, we have focused on transitioning the business from a product-centric business model to a customer-centric model through our dealer growth strategy. This move allows us to capitalize on new opportunities in a diversified market, while continuing to grow our already established business lines.

For example, we expect programs previously considered “mature”—such as GMAC’s Wholesale Floorplan Insurance, which provides insurance to dealers with GMAC inventory financing—to regain a growth trajectory. Similarly, we expect continued growth in Motors Inventory Coverage, a product for dealers with inventory financing outside of GMAC.

MIC’s growth and diversification opportunities extend beyond North America. In other countries throughout the world, GMAC Insurance is active in seeking new relationships and acquisitions to continue the rapid growth of its international operations.