By integrating TransUnion’s DriverRisk into its current offerings, DealerPolicy now has access to violation data that it says speeds up the quote-generating process. The integration also brings the benefit of increasing provided quote accuracy, according to the company.
DealerPolicy, an insurance marketplace for automotive retailers and their customers, says the right data is important to providing quick and accurate insurance quotes based on the full risk profile of an applicant. TransUnion's insurance business unit executive vice president Mark McElroy said in a news release that prefilling violation details affordably into an insurance application for consumer verification helps result in a more accurate insurance quote. That improves the consumer experience, McElroy said.
“With today’s integration announcement, DealerPolicy can provide quotes based on a more complete view of a customer’s risk profile.” McElroy said in a news release.
TransUnion’s DriverRisk product family covers the personal, commercial and life insurance industries. The company says DriverRisk helps bring a more complete picture to carriers by combining court records with state motor vehicle reports. Bringing together TransUnion’s collection of traffic-related court records with MVRs provides a more comprehensive view of a person’s driving record at a reduced cost, according to the company.
Car buyers, while at the car dealership, can review competitive auto insurance quotes and speak with a licensed insurance agent with the DealerPolicy technology platform.
The company says car buyers can save on their monthly premium when they can view competing quotes from various insurance carriers and bundle their auto, home and other policies.
Those savings average about $60 per month, according to an internal DealerPolicy analysis. The company says buyers can use those savings toward purchasing upgrades or warranties for their new car.
“As the insurance solution partner for automotive retailers, we are constantly innovating to provide faster, more convenient, and more integrated solutions,” said DealerPolicy chief product officer Mike Burgiss. “TransUnion’s DriverRisk product helps us make the process even faster while improving customer satisfaction. That’s a win for the customer and for the dealership.”