08 Jun Why It Matters Who Your Administrator Is…
What Makes a Great Aftermarket Administrator
There are hundreds of F&I product providers in the market. Some are huge players and some are small, regional providers working within a single state. Any aftermarket provider your dealership works with probably has a full menu of products to offer….VSC, maintenance, tire & wheel, PDR, etc. These companies pop up everywhere, all the time..
But have you thought about the one thing that sets them apart? No, it’s not their cost or their marketing support or even their reps.
It’s their administration.
The administrator behind your F&I products is arguably the most important consideration when working with an aftermarket provider. If their administration arm doesn’t work well or efficiently, your store could have big problems.
If your dealership is considering changing providers, keep these three factors in mind when researching the administrators behind them. It could save your dealership a lot of money and headache down the road.
- Accounting/Insurance Background – If an administrator has a solid experience in accounting or insurance, you can bet they have airtight processes and compliance procedures in place to keep claims running smoothly. This means both faster claims and happier customers.
- They Know the Automotive Biz – An administrator has to be dialed into all areas of repair operations from service to parts. They should have deep experience at the claims level as there is truly no substitute for experience when it comes to understanding repairs at the component level. They should also have their finger on the pulse of aftermarket parts pricing and fitment.
- Stellar Customer Service – Without amazing and consistent communication, everything falls apart. Claims personnel should be able to speak in the language of the dealer and understand how service works. Likewise, if the claims team cannot effectively (and with empathy) communicate with the customer, who do you think gets the first call to complain about how their VSC repair is being handled? Your F&I manager, that’s who.
Many dealerships choose an aftermarket provider who may choose a random TPA (third party administrator) that is simply a claims ‘hired gun’. We believe it is better to have it all within one single company…products, claims, reinsurance – everything. It makes for a more seamless experience for your customer and for the dealership if there is one entity that handles it all.
Check us out here for more details on how TruWarranty can be that all-in-one provider AND administrator for your store.