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DealerVero Launches Millennial-Focused F&I Platform

DealerVero Launches Millennial-Focused F&I Platform Featured Image

Team DealerVERO Blog Author Photo Team DealerVERO - Feb 20, 2019

DealerVero, an automotive technology company, announced today the general availability of DealerFinance - an AI-assisted software that enables dealerships to sell F&I protections at all points of the sale. The software is designed to sell insurance and protection products in-store, online and directly to consumers through personalized, transparent marketing. The systems no-friction approach increases a customer’s lifetime value leading to higher product sales.

63% of consumers state they would buy more F&I products if they could learn about them on their own time, before finalizing their vehicle purchase according to a recent COX Automotive study. DealerFinance optimizes all three phases of today's automotive sale:

  • Research, syndicating provider-approved marketing materials and V.I.N. specific product pricing throughout the dealer's website(s)
  • Sale, using customer-centric marketing to engage and compare various products and rates
  • Ownership, providing dealer-branded protection app, which enables direct-to-consumer sales or product upgrades

“Most dealerships today focus exclusively on the sale in-store while missing opportunities during the research and ownership phases. Today’s Millennial and Gen-Z car shoppers want a shopping experience, not a sales pitch; and we give dealerships, agencies, and product administrators a turn-key solution to easily accomplish this,” says the CEO of DealerVero.

The software enables customer-focused engagements, leading to higher product sales and customer lifetime value. “We are seeing anywhere from $200 - $1,100 increases per sale at our pilot stores utilizing various modules of the system”.

Dealerships can customize the software to fit their products, providers, and integrations. Once set up, the software accomplishes most of the work automatically. Dealerships can optimize their account to match their market and add modules like DealerCampaign or DealerService.

Online, a customer can research F&I products before entering the store. In-store dealership employee can present V.I.N. specific protection product rates and generate contracts in seconds. After the sale, a customer can easily manage their protections and add new ones with multiple payment options.

“Our top priority with the software will always be keeping the user experience simple and effective. Prioritizing this has lead to nearly full-adoption in the less than ten days at most stores we have piloted in”.

As the outlook for automotive sales remains unknown, dealers will look to increase exposure and sales of high-margin F&I products. Automotive shoppers are also pushing for a more transparent online shopping experience that transfers to the store, especially in F&I. “We have a platform that accomplishes that, as well as a channel for customers to purchase additional protections whenever they want”.

About DealerVero

DealerVero bridges the gap between car shoppers and dealerships through innovative technology solutions. We build smart technology for every part of the vehicle purchase: research, sale, and ownership. Our solutions are utilized by dealerships, agencies, and product administrators in the independent automotive, RV, power sports, and motorcycle industries. We emphasize a focus on customer lifetime value, which leads to higher sales and an increased engagement between the dealer and consumer.


DealerVero Press Release

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  • About

    At DealerVero, we build smart technology for every part of the vehicle purchase cycle: research, sale, and ownership. Our F&I solutions are utilized by dealerships in the automotive, RV, power sports, and motorcycle industries.

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