Archive | Industry

Trading Rate for Product (and Why It’s a Very Bad Idea)

Trading Rate for Product (and Why It’s a Very Bad Idea)

Your company may design excellent and appealing coverages, properly price and reserve, and perform exquisite claim administration. But at the end of the day, none of that matters if the F&I manager facing the customer can’t make the sale. Frustrating, huh? To help F&I managers get over the hump and make the sale, providers and … Read More »

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Out of the Breach

Out of the Breach

Auto Remarketing News recently reported a study finding that 84% of consumers would not do business with a dealer who had experienced a data security breach of customer information. Earlier studies found that 60% of data breaches target small and mid-size businesses and six in 10 victims go out of business within six months of … Read More »

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Did We Get It Right?

Did We Get It Right?

Let’s just jump right into this subject of technology. We can have discussions from here to eternity about new solutions that provide real-time reports covering everything from product production to F&I performance and other items in between, but at the forefront of what is most important and being used by the retail industry daily is … Read More »

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Month-to-Month VSCs: Risks and Rewards

Month-to-Month VSCs: Risks and Rewards

One of the mainstays of the F&I office — the product that is, more often than not, a major part of every F&I sale — is the vehicle service contract (VSC). VSCs provide consumers with an overall peace of mind that no other product can match. Other F&I products might offer more comprehensive protections for … Read More »

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Smart Chip Cards: Now at Your Dealership

Smart Chip Cards: Now at Your Dealership

Until recently, Americans could be a bit old school when it came to credit card processing. Before this past fall, the U.S. was one of the only countries in the world that continued to rely on credit cards with magnetic stripe technology on the back. As a result, more than half of the world’s credit … Read More »

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The Heartbeat of Claims Adjudication: Measurements, Attributes and Efficiencies

The Heartbeat of Claims Adjudication: Measurements, Attributes and Efficiencies

The majority of vehicle service contract claims are processed in a claims call center (CCC) by adjusters of varied background and experience. The CCC usually represents the second-highest operating cost next to the claims themselves. When evaluating the cost effectiveness of a CCC, it’s important to start with claims and customer-service processes. Well-defined processes produce … Read More »

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