DealTrak has announced the launch of its new compliance module to assist in managing automotive finance and insurance products
Seeking to ease some of the legislative challenges facing motor dealers, brokers, and F&I partners in the current climate, the latest addition to the DealTrak platform has been developed to assist in managing regulated activity for the sale of automotive finance and insurance products.
DealTrak’s head of insurance and data strategy, Christian Ingrey, said: “Whether a small, independent retailer, or a multi-rooftop franchised dealer, most motor retailers rely heavily on the sale of F&I products in order to deliver their sales targets.
"With that in mind, it’s vital that efficient – and compliant – processes are in place to offer motor dealers a competitive advantage.”
The system can be configured to handle finance suitability decisions as well as insurance statements of demands and needs.
As a result, dealerships can establish a prescribed sales process which prompts users to input the right customer information, at the right time.
“All of our clients handle some sort of regulated activity – whether that be finance, insurance or both – and although DealTrak doesn’t mandate the sales process, the software allows for third-party users to configure the sales process in in their own way, providing the right tools to do the job properly,” said Ingrey.