Tag Archive | "Brian Reed"

The Penn Warranty Corporation Connects on F&I Express Network


DALLAS – F&I Express® announced today that it will provide its auto dealer clients with access to The Penn Warranty Corporation products through F&I Express’ eContracting platform. The Penn Warranty Corporation, provider of service contracts to used car dealers across the United States, joins the largest network of aftermarket F&I product providers in history.

Through this new relationship, dealers using the F&I Express eContracting platform will have the ability to sell Penn Warranty service plans, which offer a wide range of coverage options. All of the forms necessary to complete the sale of a Penn Warranty service contract will be built into the F&I Express eContracting platform solution. Additionally, F&I Express will remit warranty premiums for vehicles financed through its portal directly to Penn Warranty.

“Penn Warranty’s integration with F&I Express will save time and money in the F&I department through eContracting with a single sign-on process,” said Brian Reed, President and CEO of F&I Express. “By integrating Penn Warranty products with the F&I Express eContracting platform, we offer our dealers another convenient way to serve their customers, while providing another layer of protection for lenders, which is critical in the current marketplace.”

“All of us at Penn Warranty are enthusiastic for the opportunity to partner with F&I Express,” said Jude Tuma, President and CEO with The Penn Warranty Corp. “Our goal is to exceed expectations for our more than 6,000 dealers. We want to make the F&I process as simple and compliant as possible. F&I Express will enable us to deliver that expectation for every customer.”

Currently, F&I Express is working with many auto retailers across the US to improve F&I processes with their digital solutions. The company has aggregated a network of nearly 100 automotive aftermarket insurance providers in an online portal accessible by its dealers.

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Digitizing the F&I Process Increases Consumer Satisfaction, Study Shows


ATLANTA — Digitizing the F&I process can have lasting, positive impacts on customer satisfaction for automotive retailers, a new study from MakeMyDeal and F&I Express has concluded. Titled “The Digital F&I Experience Study,” the study showed that consumers who had one or more digital elements in the F&I experience were more likely to purchase F&I products, more satisfied with the experience and more likely to recommend the dealership.

The study grouped participants into two categories: those who had at least one electronic element in their F&I experience and those who had a traditional F&I experience. Overall, only a third — 37 percent — of people were satisfied with the amount of time they spend in the F&I office. Add at least one electronic device to the experience and 49% of respondents said they were completely satisfied with the process. That’s compared to 34% of respondents who were satisfied but had a technology-free experience.

“As an industry, we know that the F&I experience is more difficult than it should be, but what we haven’t had until now are the numbers to show how that experience could be affecting the long-term profit potential for the dealership,” said Mike Burgiss, founder and vice president of MakeMyDeal. “By digitizing the experience, dealers will not only have happier customers, but they’ll also reap the benefits of more word-of-mouth recommendations and repeat business.”

The study found that 74% of respondents who had an electronics F&I experience were completely satisfied with their purchase experience vs. 56% of those who had a traditional F&I experience. Additionally, 60% of customers who had an electronics F&I experience were very likely to recommend the dealer vs. 39% of those who did not.

“F&I is one of the few remaining areas of the dealership that hasn’t been digitized, and this study clearly shows that there is a real need — and opportunity — for more of the process to be brought online,” said Brian Reed, president and CEO of F&I Express. “Consumers have an expectation to have digital options for just about anything they are shopping for. Auto dealers have a chance to strengthen relationships with existing customers, and ultimately improve their profitability by shifting to a digital F&I strategy.”

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F&I Express Launches ExpressDigitalMedia


LAS VEGAS – F&I Express® announced it has launched ExpressDigitalMedia to help automotive aftermarket F&I insurance providers, insurance agents and automotive dealers present aftermarket insurance product and pricing information online, before customers enter the dealership.

Currently, most aftermarket insurance products are sold using outdated equipment and manual processes. In addition, car shoppers typically are not exposed to benefits of aftermarket insurance F&I products until after a vehicle sale has been made. ExpressDigitalMedia allows customers access the dealers aftermarket insurance F&I product providers product and dealer pricing information during the online shopping process. Information will be accessible through the newly announced partnership with MakeMyDeal (Cox Automotive Company), which powers the online shopping solution functionality on Dealer websites and Autotrader.com.

Customer satisfaction is much higher when at least a portion of the aftermarket insurance shopping process is conducted electronically. According to recent research from Make My Deal and F&I Express, 74 percent of those with an electronic F&I experience were completely satisfied with their purchase experience versus 56 percent of those with a traditional F&I experience. In addition, 60 percent of car shoppers with an electronic F&I experience said there were very likely to recommend the dealer versus 39 percent of those with a traditional F&I experience.

“Today’s consumers are so used to doing things electronically it is imperative that the F&I industry keep pace,” said Brian Reed, President and CEO of F&I Express. “With ExpressDigitalMedia, we are arming the industry with the tools to work with their customers online. Ultimately, this will mean higher sales for auto retailers, aftermarket insurance providers and agents.”

Currently, F&I Express is working with many auto retailers across the US to improve F&I processes. In addition, the company has aggregated a network of nearly 100 automotive aftermarket insurance providers in an online portal accessible by its dealers. Taking that information online for car shoppers through ExpressDigitalMedia is the next logical step in helping shoppers learn more about F&I products prior to entering the dealership.

“The future of F&I is clearly to move more of the process to the information gathering phase,” Reed said. “It will help car shoppers spend less time in the dealership and an educated shopper is also more likely to make a purchase. Moving this information online through ExpressDigitalMedia is a win for everyone involved.”

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Digitizing the F&I Process Increases Consumer Satisfaction, According to New Study


ATLANTA – Digitizing the finance and insurance (F&I) process can have lasting, positive impacts on customer satisfaction for automotive retailers, according to a new study from MakeMyDeal and F&I Express. The study, titled The Digital F&I Experience Study, showed that consumers who had one or more digital elements in the F&I experience were more likely to purchase F&I products, more satisfied with the experience and more likely to recommend the dealership.

Much of the car shopping process has been digitized, either through online tools or desktop tools at the dealership. However, a significant portion of the process for automotive aftermarket insurance products still involves cumbersome printed documents and manually signed 5-ply forms.

“As an industry, we know that the F&I experience is more difficult than it should be, but what we haven’t had until now are the numbers to show how that experience could be affecting the long-term profit potential for the dealership,” said Mike Burgiss, founder and vice president of MakeMyDeal. “By digitizing the experience, dealers will not only have happier customers, but they’ll also reap the benefits of more word-of-mouth recommendations and repeat business.”

Brian Reed, CEO of F&I Express, is helping lead the charge to digitize the F&I sales process.

“F&I is one of the few remaining areas of the dealership that hasn’t been digitized, and this study clearly shows that there is a real need—and opportunity—for more of the process to be brought online,” said Brian Reed, President and CEO of F&I Express. “Consumers have an expectation to have digital options for just about anything they are shopping for. Auto dealers have a chance to strengthen relationships with existing customers, and ultimately improve their profitability by shifting to a digital F&I strategy.”

The study grouped participants into two categories: those who had at least one electronic element in their F&I experience and those who had a traditional F&I experience. Overall, only a third—37 percent—of people are completely satisfied with the amount of time they spend in the F&I office. However, people who had an electronic experience reported higher satisfaction with their time spent in the F&I office than those who did not: 49 percent of people who had at least one digitized element in the process were completely satisfied, versus 34 percent of people who had no electronic elements.

Further, those who had an electronic element in the F&I experience reported greater purchase satisfaction and a stronger likelihood to recommend the dealer:

  • 74 percent of those with an electronic F&I experience were completely satisfied with their purchase experience versus 56 percent of those with a traditional F&I experience.
  • 60 percent of those with an electronic F&I experience said there were very likely to recommend the dealer versus 39 percent of those with a traditional F&I experience.

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Reed, Burgiss to Bring ‘Power of Digital F&I’ to PALS


LAS VEGAS – Organizers of the annual P&A Leadership Summit have announced that Brian Reed, president and CEO of F&I Express, and Mike Burgiss, founder and vice president of MakeMyDeal, a Cox Automotive company, have agreed to speak at the 2015 event, which will be held Sept. 8–10 at Paris Las Vegas.

Their session, “The Power of Digital F&I: What it means for F&I Administrators,” will focus on the research and benefits of online F&I shopping processes and offer different perspectives on what needs to happen within the industry to move F&I product information upfront in the online shopping process — now and into the future.

“We are excited to offer our attendees the insight that this powerful duo has to offer administrators,” said David Gesualdo, show chair and publisher of F&I and Showroom and P&A magazines. “Their knowledge of digital F&I processes will make for a valuable takeaway to all who attend.”

Burgiss specializes in leading innovations that drive new business growth. His 17 years of experience leading ecommerce and innovation has resulted in 13 awarded patents for consumer technology products. “Consumers use technology in almost every part of their lives,” said Burgiss. “This has raised their expectations for just about everything, including how they shop for F&I products.”

“Providing product and price information online along with associated product content will improve the customer’s understanding of F&I products prior to entering the dealership, and ultimately improve F&I closing rates,” said Reed, adding that he leads the F&I Express team in its quest to provide world-class technology to support electronic processing and ecommerce.

Registration is now open for the P&A Leadership Summit. Attendees who register by Aug. 7 will enjoy a $100 early-bird discount. More information, including additional speakers and travel, is available at the event’s website. To inquire about sponsorship or exhibition opportunities, contact David Gesualdo via email or call 727-947-4027.

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Reed, Burgiss to Bring ‘Power of Digital F&I’ to PALS


LAS VEGAS – Organizers of the annual P&A Leadership Summit have announced that Brian Reed, president and CEO of F&I Express, and Mike Burgiss, founder and vice president of MakeMyDeal, a Cox Automotive company, have agreed to speak at the 2015 event, which will be held Sept. 9–10 at Paris Las Vegas.

Their session, “The Power of Digital F&I: What it means for F&I Administrators,” will focus on the research and benefits of online F&I shopping processes and offer different perspectives on what needs to happen within the industry to move F&I product information upfront in the online shopping process — now and into the future.

“We are excited to offer our attendees the insight that this powerful duo has to offer administrators,” said David Gesualdo, show chair and publisher of F&I and Showroom and P&A magazines. “Their knowledge of digital F&I processes will make for a valuable takeaway to all who attend.”

Burgiss specializes in leading innovations that drive new business growth. His 17 years of experience leading ecommerce and innovation has resulted in 13 awarded patents for consumer technology products. “Consumers use technology in almost every part of their lives,” said Burgiss. “This has raised their expectations for just about everything, including how they shop for F&I products.”

“Providing product and price information online along with associated product content will improve the customer’s understanding of F&I products prior to entering the dealership, and ultimately improve F&I closing rates,” said Reed, adding that he leads the F&I Express team in its quest to provide world-class technology to support electronic processing and ecommerce.

Registration is now open for the P&A Leadership Summit. Attendees who register by Aug. 7 will enjoy a $100 early-bird discount. More information, including additional speakers and travel, is available at the event’s website. To inquire about sponsorship or exhibition opportunities, contact David Gesualdo via email or call 727-947-4027.

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