Dealers often face significant opportunity costs by not having the right tools to increase finance penetration and boost revenue through the sale of finance and insurance products. Inefficient tools that are not connected to their DMS can lead to missed opportunities and reduced profitability. FinanceConnect addresses these challenges by seamlessly integrating the right tools with your DMS, connecting you to finance, insurance, and aftermarket providers.
In this case study, we will focus on how the integration of the Allianz quick quote feature into FinanceConnect has transformed the financial operations of several businesses, leading to increased sales, efficiencies and customer satisfaction.
Challenges Faced by Dealers
The dealers in this success story we facing challenges when selling insurance policies to their customers, often leading to time-consuming tasks and customer dissatisfaction. The need for quick and accurate insurance quotes was a common pain point as these inefficiencies result in lower quote rates and policy bindings, ultimately reducing revenue.
The DMS Integrated Solution
FinanceConnect addresses these challenges by integrating the Allianz quick quote feature into its platform. This integration allows for rapid pre-population of customer data, significantly reducing the time required to generate insurance quotes.
In addition, dealers using FinanceConnect also benefited from its comprehensive toolkit designed to support various aspects of the sale of financial and insurance products by offering a range of features that can be tailored to meet specific needs:
Sales Enablement: FinanceConnect enhances sales processes by providing tools that streamline customer interactions and improve efficiency. The Allianz integration is a prime example, allowing for quick and professional insurance quotes.
Compliance: The platform includes features that help businesses stay compliant with financial regulations, reducing the risk of errors and ensuring smooth operations.
Reporting and Forecasting: FinanceConnect offers robust reporting and forecasting tools that provide valuable insights into financial performance, helping businesses make informed decisions.
The results:
The impact of FinanceConnect has been significant, as demonstrated by the performance metrics and testimonials from various dealerships using the Allianz integration of FinanceConnect over a 30-day period at the end of 2024.
One of the dealers in this case study experienced a remarkable improvement after implementing FinanceConnect. In December 2024, the dealer sold 176 vehicles and 46 insurance policies. In contrast, during the same period in 2023, before introducing the FinanceConnect integration with Allianz, the dealer sold 193 vehicles but only sold 12 policies. This represents a 283% increase in insurance policies sold.
In terms of increased customer satisfaction and quote rates, here’s what two dealerships said:
- Mihriam Stocker, Easyauto123 Mile End: “The integration of the Allianz quick quote into our FinanceConnect platform has proven to be a huge success. Since the integration, we have seen a large lift in both quotes and policies written, largely due to how quick it takes to pre-populate customer data. Our guests have given us excellent feedback, and we are reaping the rewards.”
- Jarrod Hudswell, Eagers Automotive: “The rollout of the FinanceConnect & Allianz integration was seamless. Data transfer from FinanceConnect to the insurance quoting platform is quick, smooth, and efficient. This speed has allowed us to provide insurance quotes to our guests much faster and more professionally. Customers have been impressed with how quickly we can provide a quote, and we have seen a significant lift in our quote rates and policy bindings.”
Learn more about FinanceConnect here.
