| Did you know that $16 is lost on every VSC sold? |
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| SEcureRate is the industry’s first Real - Time Service Contract Rate Calculator with Seamless Interface into the largest Dealer Management Systems (DMS) currently used by Franchised Automotive Retailers. By interfacing the Service Contract Rates directly into the DMS the dealer can control the retail rates charged to the consumer. Individuals with challenged credit scores will no longer be charged excessive rates. The ability to control rates across all lines of business meets the compliance issues that are critical in today’s litigious environment. |
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| Based on industry statistics, over
5 million vehicle service contracts were sold in 2003. That means over
$75 million in profit were lost due to errors in rating vehicle service contracts |
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| The Service Contract is the only financial service product that is not easily rated. Traditionally, rates are retrieved from large paper based rate books or they are retrieved from web based rating tools. PROBLEM—The finance producer does not look up the rates in the rate book nor will they utilize a dual entry rate calculator. SOLUTION— Interface the Administrator with the Dealers’ DMS System. Imagine if rates for Credit Insurance or complex calculations for finance rates were only available by looking them up in a rate book. The margin for errors would be overwhelming. The same margin for error is currently happening with Service Contracts.
Time to market is a critical issue for Service Contract Rates. How long does it take to have all of your Dealer clients converted to new rates? With the Integrated Rate Calculator new rates, new classifications, new deductibles, and new surcharges are immediate.
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| How SEcureRate works |
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SEcureRate utilizes a new customized screen on the DMS that interfaces with Administrators’ Rating Systems. Instead of looking at the Rate Chart and inputting a Warranty Premium in the F&I Screen, the F&I Manager simply selects from the Plans and Terms available for the vehicle being sold. Behind the scene, SecureRate has obtained the specific Plans and Rates directly from the Service Contract Administrator’s system and loaded those Plans and Rates in the dealers management system.
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Benefits to Administrators and General Agencies
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 Know your risk the same day the contract is sold |
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Reduce data entry costs by receiving contract data electronically |
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Enforce profit caps set by the dealer |
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Eliminate administrative costs due to re-contracting, pending contracts and claims for ineligible vehicles |
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Rates are accessed directly from the Administrator’s system |
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Benefits to Automotive Retailers
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Retain gross profit by always being aware of accurate cost |
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Eliminate pending contracts, re-contracting and customer dissatisfaction due to eligibility errors |
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Studies show that errors occur on 30% of all Service Contracts. |
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| “SEcureRate is a significant addition to the host of technology solutions offered by StoneEagle to meet the needs of Dealers, Administrators and Agents. SEcureRate allows us to operate more efficiently, reduce costly errors for our dealers, and more importantly secure dealer loyalty by offering a value-added technology solution to our customer base.” |
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Bob Newton, Senior Vice President of IT
Service Life and Casualty |
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To see firsthand how SEcureRate can help your organization contact our
sales department at
sales@stoneeagle.com today for a web based demonstration.
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