Quick Buy: Integrated MaximTrak and CNA Technologies Speeds Up Car Purchasing Process |
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Written by U.S. Insurance News
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Saturday, 22 December 2007 |
The image of the owner of a new car, smiling as the dealer hands over the keys to the vehicle, isn’t complete.
The image of the owner of a new car, smiling as the dealer hands over the keys to the vehicle, isn’t complete.
For that commercial-quality picture leaves out the boring, cumbersome, lengthy process of completing the pile of paperwork needed to complete the transaction.
MaximTrak would like to change the picture permanently.
This technology provider for the retail automotive finance and insurance industries (F & I) has teamed with CNA National Warranty Corporation, a vehicle service contract company, to provide a time-saving step in F & I processes in car dealerships.
CNA’s automated VIN rating system, QuikRateSM, eliminates the need for F & I managers to manually search rate books when pricing a vehicle service contract. Now, MaximTrak has integrated this technology into its F & I Menu platform, which greatly reduces rating errors and frees up the finance manager’s time for more productive, face-to-face interaction with car buyers.
It’s not uncommon for customers to spend 45 minutes or more meeting with an F & I manager after agreeing to buy a vehicle. Thus, anything that can shorten the process is a win for both F & I managers and customers. With QuikRate now integrated into the MaximTrak platform, dealers can shave about 20 minutes off the transaction process. A few keystrokes replace the need to manually search an insurance rate book.
MaximTrak also plans to integrate CNA’s newest technology, QuikContractSM, for online contract printing and contract registration. This will enable a dealer to print the retail Vehicle Service Contracts out of the MaximTrak system and remit the details of the sale to CNA National directly, eliminating the paper process, which takes about 45 to 60 days.
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