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Retailers missing out on insurance

Dealers can improve profitability and customer loyalty by offering a range of competitive insurance and finance products, a leading insurance and finance provider says.

Singer & Friedlander reckons car retailers are missing a major opportunity by not offering a range of added value finance products such as warranty, breakdown and recovery, gap insurance and vehicle replacement insurance.

MD Tony Worthing says: “Dealers can benefit from using premium finance by not only offering a comprehensive service so the customer can drive the car away, but by locking the customer in to a complete relationship with their business.”

Worthing advises dealers to build a package of mobility services under their own brand and use premium finance to spread the loan.

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