Auto insurance marketplace DealerPolicy has integrated data analytics company J.D. Power’s new insurance data and analytics platform to create personalized insurance quotes tailored to a customer’s specific preferences.
DealerPolicy on Monday announced the collaboration, which it said would deliver instant, personalized insurance quotes to car buyers.
The new personalized insurance service is now available to all DealerPolicy Insurance customers.
With DealerPolicy’s technology platform, car buyers can instantly compare competitive auto insurance quotes from insurers as part of the car-buying process.
Customers can receive coverage advice from DealerPolicy Insurance’s licensed agents, and they can receive their policy documents within minutes.
“We’re absolutely thrilled to be teaming with J.D. Power to bring an industry-first, next-generation experience to our customers,” DealerPolicy chief executive officer Travis Fitzgerald said in a news release.
Fitzgerald continued, “We continue to provide tangible savings to hundreds of thousands of car-buyers and along the way we’ve learned that price isn’t the only factor in a customer’s decision-making process — service matters a lot. Now we can not only provide competitive pricing, but also truly personalized insurance.
Fitzgerald also said his company understands that insurance is not “one-size-fits-all.”
“We’ve worked tirelessly to deliver a solution that matches a consumer’s preferred insurance experience to carriers that are most likely to meet those preferences, such as technology, long term price stability, claims handling or customer service, all backed by the high-quality, independent data of J.D. Power,” he said.
J.D. Power vice president and managing director of global insurance Kyle Schmitt said J.D. Power has spent more than 20 years developing an independent data asset that measures how well individual carriers meet their customers’ expectations.
“Until now, consumers were largely taking a chance that their carrier choice would meet those expectations,” Schmitt said.
Schmitt continued, “By teaming with DealerPolicy, we are empowering consumers to pick the experience they want by matching their preferences to carriers with a proven track record across multiple service dimensions. This will provide a better experience for the consumer and better retention for the carrier. The powerful combination of choice and personalization is the future of personal lines insurance, and we’re excited to bring this offering to market with DealerPolicy, a recognized leader in the space.”
Michael Reth says the automotive and insurance industries are facing “unprecedented change” that requires tangible consumer engagement “as they navigate their own digital transformation roadmap.”
“In automotive and vehicle-focused industries, customers are requiring a digital experience in every step of the automotive buying, and ownership lifecycle,” said Reth, who is founder and chief executive officer of Axiom Connected Technology.
With that in mind, finance and insurance product provider Axiom Product Administration said on Thursday it has established a dedicated technology services organization. Axiom Connected Technology is that company, and it focuses on the digital transformation of the automotive, fintech and insurtech industries.
Axiom said the new business entity brings together new and existing connected platforms. Those platforms help automotive customers, OEMs, administrators, underwriters and dealers deliver technology “to digitally interact through a connected ecosystem,” the company said.
Through Axiom Connected, enterprise-level clients gain a “pragmatic roadmap” to digital transformation in the automotive space, according to the company, which says that strategically aligns its vision with “the connected vehicle ownership journey.”
Axiom Connected’s services include:
— Connected warranty ecosystem, which the company says is a portfolio of digital platforms connecting the customer to the vehicle, dealer, OEM and administrator.
— Industry-specific roadmap and executional strategies that the company says can improve the ownership experience.
— Digital retail services that include customization and deployment of e-commerce, connected sales platforms including retargeting best practices and real-time analytics.
— Implementation and growth: The company said that includes swift speed to market, expandable infrastructure and global adaptation to client needs.
— BPO development services: Those include full-stack development for automotive, insurtech and fintech organizations.
“Axiom Connected is a digital-first customer experience focused company with in-depth knowledge and understanding of the automotive finance & insurance industries,” Axiom Connected chief technology officer Sergey Abrosimov said in a news release.
Abrosimov continued, “Our pragmatic approach to using proven innovative technology stacks in order to digitally transform an industry ridden with legacy systems and technical debt makes us one of the few technology providers in automotive finance & insurance space that addresses the needs and wants of the modern consumer.”
“Due to a lack of internal technology and development resources, many industry organizations are challenged to deliver their own internal digital operational and customer experience solutions,” Reth said.
“Axiom Connected guides companies through development and implementation by building custom enterprise solutions at scale, relying on years of automotive industry knowledge to deliver a better digital customer experience," he continued.
