The automotive industry is going through a large-scale transformation. The $309 billion industry is beginning to embrace digitization, making it more convenient for consumers to purchase the car of their dreams.
In 2020, consumers have re-prioritized. Fewer of them crave an in-person interaction at the dealership. Instead, many would prefer to plug a few terms into a search box, select the car that looks the best, then have their vehicle dropped off at their driveway or picked up at the dealership. By shifting much of the shopping experience online, consumers reduce the stress of haggling over price or the time-consuming process of driving between individual dealers. Dealerships, recognizing the consumers’ desire for instant gratification, are transitioning towards greater use of digital platforms.
With that shift towards a digital experience, dealerships also have the opportunity to embrace a more convenient way to offer insurance. Dealers already capture the customer information required to quote automotive insurance. Still, while they are creating the underlying economic activity, they have not had practical options to participate in the insurance offering.
Enter Salty®, the Embedded Insurance platform. Salty’s solution starts with the information dealers already capture and use that to offer an insurance quote, right on the customer’s phone. Customers want high-quality coverage for their new car, and there is almost no incremental work for dealers. Meanwhile, the program generates a material uplift in profitability for the dealer, at a time of transition and uncertainty.
Today, Salty’s intelligent platform allows the dealer to key in information about the consumer, so they receive their insurance quote in minutes. But evolution is a constant for this team, so with the help of some amazing techies, Salty’s Embedded Insurance® platform is integrating to popular Dealership Management Systems, making the entire process digital and virtually instant for the consumer. All with a simple click. By making it easy for dealerships to work directly with Salty, they make getting the cover you need an integral part of the buying process –consumers can buy the car they want, with the best insurance available, with the click of a button.