For the first time Mondial will offer Gap (guaranteed asset protection) insurance, but it will combine this with RTI (return to invoice) insurance. It believes this ‘single solution’ approach will simplify the sales proposition for dealers.
"Combining Gap with RTI will help dealers with the FSA issues because customers will be fully catered for," says Lee Taylor, Mondial warranty sales manager and head of the F&I division.
"It will also be an easier proposition for dealers to sell. It’s not the cheapest product, but it is the right one for the customer."
Mondial, which handles around 25% of manufacturer-branded new and used extended warranties, says Gap gives it a route into the dealer market.
"We are not going after dealer groups on warranties because of our relationships with manufacturers," adds Taylor. “But with Gap, we can use grow with manufacturers and dealers."