Advertisement feature from PIB Group
We know that the motor trade sector has been heavily affected by the COVID-19 pandemic. The current situation makes it more important than ever that you can manage the risks your business faces and look for opportunities to improve performance and profitability.
Cooper Solutions are part of PIB Group, we focus our attention on what matters to you, your business, your team and your customers. We understood the huge impact of lockdown on the automotive industry, so we prioritised our work during this period to enable businesses to reopen and resume business safely.
Our software team developed ‘remote signing’ capabilities to bolster social distancing measures, enabling retailers to operate safely with customers and employees alike. For FullCover, QR code loan car indemnity forms customer e-signing, and for FullAppraisal, QR code for vehicle appraisals e-sign approval process (both in person and remotely) via a customer’s personal device help mitigate any risk.
Measures were also taken in conjunction with our day rate insurance provider AVIVA in response to the SMMT trade plate guidelines changes during lockdown; providing unaccompanied cover as part of our standard T&C’s – a move that was positively welcomed by our clients who critically, could then offer customers a socially distanced test drive experience which fast became the norm as retailer sales processes quickly adapted.
This important change in retailer process is reflected in customer uptake of unaccompanied test drives post lockdown, a trend that seems set to stay. Our analysis shows that, during the first three months of this year, the number of sales loans were 29,053, 29,137 and 21,228. We anticipated a drop in March as we went into lockdown. However, on reopening, the number of loan days increased hugely to 55,931 (June, on reopening), 72,746 (July), 77,075 (August), and the trend look set to continue as we look at September’s statistics.
Even more reassuring that the new process is successful, is the substantial rise month by month compared to the same period last year, with numbers of loan days showing an increase of up to 160%, and forecast at a 175% lift for this month compared to September 2019.
Not only have our proactive steps taken during lockdown ensured adherence to government regulations and SMMT guidelines, it has also given reassurance for employees and customers alike during an uncertain time for many. Feedback from retailers confirmed a safer, faster and more efficient handover of courtesy, demo cars, appraisals requiring customer e-signatures has ensured this fundamental part of their business could continue as normal in a safe and Covid compliant way.
Nikki Bamford, Customer Relations Manager at Motorpoint said: “Having piloted the system at one site, and receiving positive feedback from the sales execs and customers alike, I had no doubt about installing this throughout the group. Maintaining excellent customer service whilst operating under the new regulations was our priority. The team at Cooper Solutions worked with us to meet our requirements, and delivered everything we asked in a timely and professional manner”.
In conjunction with PIB Risk Management we communicated a Return to Work guide helping Retailers address the operational impact of COVID-19.
With Government guidance subject to change, we continue to focus on the impact of the pandemic, and the long-term effects on Retailers. To help minimise risk in the event of a second wave, we are working in close collaboration with PIB Group as a divisional Motor Trade team and will soon release a follow up piece to the free Return to Work guide. Making us uniquely placed to support and assist our clients mitigating risks to their business, customers and employees whilst looking at ways to improve performance and profitability.