Why You Should Consider Opening An In-Dealership Insurance Agency Of Your Own
Who We Are:
Atlas Dealer Services provides an additional revenue source to automotive dealerships through the sale of various personal and commercial lines of insurance to the dealerships’ existing customers. Atlas will provide a turn key solution to auto dealerships so that they can quickly create a profitable and high producing independent insurance agency inside of each auto dealership.
How It Works:
After consummating the sale of a new or used car, or confirming the customers’ arrival for a service department appointment, the customer will be directed to an insurance agent within the showroom to quote and offer auto insurance coverage (among other products). This point-of-sale arrangement provides numerous benefits to dealerships, its customers, and the independent insurance carriers they represent:
Benefit to Customers:
Receive a quote with little or no additional effort while the customer waits to finish purchase of vehicle
Obtain the necessary coverage to drive the car off the lot for immediate gratification.
Provide an opportunity for customer to shop their insurance while they wait to finalize the purchase of their new vehicle.
Avoid having to make an additional and lengthy call or visit to a retail agent.
Benefit to Dealerships:
New Revenue Center: Competitive pressure, OEM vehicle pricing policies, Internet vehicle comparison shopping, vendors pushing the latest sales tool technologies, dealer’s continuous attempt to automate the sales process, not to mention the ongoing challenge of converting their advertising dollars into customer appointments that show up at the dealership after being exposed to an advertisement. These things combined with other ROI diminishing issues have made things challenging for dealers and have exacerbated shrinking margins.
This new and otherwise unrealized revenue center in the dealership, provides a higher level of service to customers, expands the depth of benefits for employees, and generates new source of revenues by conjoining two of the most important things at the perfect time: A “top of mind” customer issue (insurance) while in the shopping phase at a dealership and a “top of mind” dealership issue (capturing and creating a reoccurring revenue opportunity) while the customer is fully engaged with the dealership personnel and physically on the property at the dealership.
An in-dealership agency will provide the following:
Create an umbilical cord to the customer through insurance offering and services
Create a dealer owned book of business that could potentially be worth more than the dealership itself within just a few short years.
Obtain access to an additional revenue stream (commissions on new and renewal policies) that can add 10-15% in net profit just from its existing customer base.
Give a reason to follow up with the customer every 6 or 12 months to renew/adjust a policy in addition to offering additional purchase opportunities for a new car, or other products.
Create better customer loyalty and customer service ratings for solving another customer’s problem
Better utilize staff and reduce employee turnover by creating additional revenue streams for in dealership employees.
Ensure that no car sales are lost because the customer was unable to secure proper insurance
Give the customer a convenient, familiar and friendly environment where they can pay premiums on policies they hold by visiting the dealership’s on site agency.
Give the customer peace of mind should the need arise for them to file a claim simply by calling the dealership and asking to speak to their insurance specialist.
Create a new sale opportunity in the even that a customer calls in to file a claim, because the dealership can provide the towing for the damaged or immobile vehicle and provide new purchase options with familiar dealership personnel and on site inventory. This will also expedite the claims process and reduce potential litigation issues due to the speed and efficiency in which the customer is presented with a settlement offer while simultaneously being allocated a replacement vehicle.
By providing access to independent insurance companies, insurance and automotive sales experts, and cutting-edge technology, Atlas Dealer Services will ensure that each dealership agency achieves a high conversion ratio, high cross-sell percentage, and high retention ratio.