BURLINGTON, Vt., Sept. 11, 2019 /PRNewswire/ -- According to a
study just released by DealerPolicy, 83% of car buyers want to
complete everything related to their car purchase at one time
within the dealership, including their purchase of auto
insurance. The findings reinforce and expand on well-known trends
showing increased consumer demand for a more convenient, more
complete, and more streamlined car buying experience.
The first annual study is based on a survey of 1,000 consumers
who purchased a car within the past six months. The study revealed
that car buyers want to see competing insurance quotes from
multiple carriers while at the dealership and showed that if
customers could save money on their auto insurance during the car
buying process, they would use the cost savings to purchase a nicer
vehicle or a warranty or other F&I products.
"Traditionally, dealers have seen insurance as a problem, but
insurance is now a new income opportunity for dealers," said
Mike Burgiss, President of Dealer
Solutions at DealerPolicy. "When customers save on their insurance,
they have thousands more in buying power for the F&I products
in the business office. A scalable digital insurance platform
that offers customers the top insurance brands offers dealers new
income opportunities and increased F&I sales."
Car buyers who took the survey shared that they were only helped
9% of the time by the dealership, even though over 80% would prefer
to handle everything at the dealership. Three out of four people
agreed that their car buying experience would be better if they
could purchase insurance from inside the dealership.
Mr. Burgiss continued: "Today's combination of flattening sales
volumes and ever-increasing margin compression means that winning
dealerships will be those that find new sources of income while
delivering a higher level of customer experience. It's time to take
a fresh look at insurance, not as a problem, but as a new and
significant income opportunity."
For more information, read the full study at
DealerPolicy is the most trusted and complete insurance
marketplace for automotive retailers and their valued customers.
With its seamless integration into the car buying process, the
company's innovative solution enables car-buying customers the
opportunity to purchase insurance by connecting them with licensed
insurance agents while at the dealership or after they arrive home
with their new car. The company delivers these benefits
through an industry-first combination of partnerships with car
dealers, a growing insurance carrier network, and access to
licensed agents. DealerPolicy is currently operating in
eleven states with plans to operate nationwide by 2020. For
more information, visit www.dealerpolicy.com.
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