DealerPolicy, an auto insurance company geared toward car dealers, has been moving toward increasing its services. The company is already integrated with F&I software providers and also recently partnered with Equifax, which it says will help dealers accelerate the financing and purchase process.
Now, the company is expanding into the state of Virginia.
DealerPolicy notes that it is experiencing heavy growth and continues to add new dealers, and it plans to expand operations nationwide through 2020. The company says it provides car-buying customers the opportunity to purchase insurance by connecting them with licensed insurance agents while at the dealership or after they arrive home with their new car.
The company’s new platform provides consumers with their choice of insurance carriers and access to licensed insurance agents. DealerPolicy said its service increases car buyers’ purchasing power, giving them more funds to put toward buying their new car and F&I products. The company said it has helped automotive retailers generate more than $10 million in additional buying power for their customers.
DealerPolicy says its referral and payment programs provide dealers with a new source of recurring income. Dealers earn money each time a customer uses DealerPolicy’s technology to connect with a licensed insurance agent.
“Our excitement builds with each state we add to the DealerPolicy network,” Travis Fitzgerald, chief executive officer, said in a news release. “Virginia dealers and customers have urged us to bring the first all-inclusive insurance platform to their state, and we’re thrilled to fulfill their request.”