Embedded automotive insurance in the fully digital dealership leads to more revenue opportunities for dealerships as well as better customer experiences. Forward-thinking dealers are already using embedded auto insurance to drive more revenue in F&I, more product sales, and a better customer experience. This session will provide a deeper understanding of digital auto insurance, how to embed it into your process and benefit from it financially, as well as how to take integrate it across the customer lifecycle for a more efficient sales and F&I process. It’s never been easier to include insurance in the dealership sales process. And the potential rewards have never clearer.
Key Takeaways:
- How technology will accelerate auto insurance sales in auto retail.
- How auto insurance can be leveraged in the buying process to sell more F&I Products.
- Why retailers should be paying way more attention to auto insurance to drive long term revenue.
The unpredictability of non-prime loan performance has plagued the auto industry. Historically, the non-prime market segment has been deemed highly risky and a thorn in the side of auto finance. Today, this untapped market represents an enormous opportunity for a budding and thriving business. With a fresh perspective and the integration of data science into business models, the potential for growth and incremental revenue has never been greater. Chad will reveal how non-prime loan performance is being powered by sophisticated modeling using artificial intelligence and machine learning. With ridiculous accuracy of 98.5%, auto originators offering in-house financing can properly address the nuances of the non-prime segment and proactively build profitable programs. Fintech innovation!
Key Takeaways:
- Outline the challenges and stigmas associated with non-prime loan performance. Demonstrate how data science is being used to predict highly accurate loan performance.
- Explain what this innovative approach means for non-prime loan originations and the impact it will have on the auto industry.
2023 is a pivotal year in retail automotive, and conversational AI will help dealers deliver better customer experience and business results. Owners and investors are focused on streamlining processes wherever possible. Some businesses will successfully increase their ROI and CSI scores. Others will not. This workshop will identify the weakest link within an automotive dealership and demonstrate how conversational AI strengthens teams and profits. This session will examine conversational AI and debunk popular myths. Attendees will be educated on the types of reporting needed to better evaluate their dealerships’ ROI. This session will provide real dealership mystery shop examples as well as success stories and statistics behind the transformative impact of conversational AI in retail auto.
Key Takeaways:
- Attendees will learn the how to evaluate real conversational AI, so they don’t get fooled in the future.
- Attendees will learn which reports can help them assess BDC impact on customer experience and dealership ROI.
- Attendees will listen to real mystery shop calls and examine real results from stores that have used conversational AI to transform their customer experience and business results.
With new and used EV inventory expected to flood the market, it’s time for dealers and fleets to move from planning to action. From imaginative fixed ops models to agile marketing designed to inform and educate, automotive retailers have an opportunity to revolutionize their business with EV operations and solutions that make a lasting impact.
Key Takeaways:
This workshop will discuss three key focus areas to guide the EV transformation – inventory, operations/service and marketing considerations.
– Effectively employ EV battery diagnostics and battery health scores to guide your EV purchases in the auction lanes.
– Drive buyer confidence in battery health when marketing used EV inventory acquired on trade.
-Prepare staff to succeed with the knowledge they need to address customer concerns.
– Design unique service offers for EV owners to maintain fixed ops revenue.
– Establish a transparent and trusted means to measure EV battery health.
- Marketing Considerations:
– Develop shareable digital content to address primary barriers to EV adoption – customer range anxiety, total cost of ownership, etc.
– Drive awareness about the importance of EV battery health testing to gain trust from EV owners.
Volatility in our industry is causing pain. Staffing shortages, financing challenges, inflation and interest pressures, and vehicle valuation fluctuations are all exposing the value of extremely agile operations. Automating and augmenting lenders’ workflows has become imperative for them to remain viable and pull ahead. In this session, learn how to squeeze and optimize your systems to:
- Reduce staff by automating lending decisions and increasing consistency
- Optimize marketing activities exclusively to prequalified & prescreened leads for your business
- Harness the power of alternative data to return highly accurate decisions in seconds, including considerations of vehicle data, co-borrowers, and deal structure, to offer the competitive rates and win more deals
Key Takeaways:
- Automation is the answer to staffing shortages: augment your physical workforce with software to continue growth and development
- Get qualified traffic to the door: dealers have a defined “sweet spot” for clientele, as do lenders in terms of credit quality and ability to pay – finding these individuals ahead of the competition and bringing them “to the door” is the optimal way to drive new originations
- Accuracy and agility are still critical: in a volatile market, “hard coding” automation on legacy tools will begin to falter. Opt for agile solutions with leading-edge data and technology to provide you with the best insights and automated processes that can respond to real-time changes
In this session we will utilize data from the JD Power PIN network along and data from our Valuation Services (formerly NADA UCG) as well as from ALG and our forecasting teams.
There are 3 topics in the presentation, New Vehicle data, Used Vehicle, and Auto Lending data. The audience will come away with many insights and takeaways from all aspects of auto sales and auto lending.
What is happening in the new vehicle marketplace? Is vehicle production on the upswing and returning to “normal” levels? Will evaluated pricing continue? Are incentives coming back? What is the profitability picture for OEM’s and dealers? We will also provide great insights to the fast-growing and evolving Electric Vehicle marketplace?
Similarly a deep dive in to Used Vehicles + Automotive Finance.
Key Takeaways:
- Attendees will gain great insights to new vehicle sales, inventory (production) levels, pricing, incentives, dealer and OEM profitability and 2023 and beyond outlook. We will also offer insights into the fast growing and evolving Electric Vehicle marketplace.
- Audience will come away with a much better understanding of the Used car market at both the wholesale and retail levels. Additionally, insights will include sales, pricing, auction activity and forecasted vehicle values and inventory levels.
- Attendees will see how the auto lending market is evolving for new and used vehicles finance and leasing, including sub-prime. Which lender segments are gaining or losing share and why, what are the trends on LTV’s, terms and pricing plus much more.
