GMAC Insurance Unveils Innovative Solution Targeting 30% Increase to Dealer
F&I Revenue
SOUTHFIELD, Mich., Jan. 3 /PRNewswire/ -- GMAC Insurance today introduced
the latest additions to its innovative suite of technology-based solutions for
automotive dealers. Combined with ongoing training and support,
IntelliMenu(SM) and IntelliTracker(SM) provide a state of the art, custom-
designed, menu-selling process with the potential to increase dealership F&I
revenue by 30 percent on average.
"During the last several years, dealers' profit margins on new vehicle
sales have become increasingly slimmer," said Tom Callahan, executive vice
president of GMAC Insurance's Dealer Products & Services group. "Our
integrated menu-selling process will help dealers remedy that trend. First, it
will provide dealers with unprecedented and complete access to all of the
tools and training necessary. And second, by enhancing customer awareness of
F&I product offerings, we expect the solution will ultimately result in
significantly improved penetration and revenue."
GMAC Insurance is providing this service through a partnership with menu-
selling technology leader MenuVantage.
"We are proud to be working with GMAC Insurance on this unique, integrated
dealer solution," said Phil Battista, co-chief executive officer of
MenuVantage LLC. "On average, dealerships with our system have seen a 30
percent increase in F&I revenue. By combining our technology expertise with
GMAC Insurance's complete support package, dealers can expect unparalleled
service and results."
By capitalizing on MenuVantage's proven platform, IntelliMenu also will
provide dealers with an interface approved for ADP's dealer management system
(DMS) and certified for Reynolds and Reynolds' DMS. These interfaces allow
MenuVantage access to a dealer's DMS using standard data interfaces and help
ensure dealer information security, privacy, confidentiality, integrity and
supportability.
The company will also supply GMAC Insurance with technology support and
development expertise for future upgrades and improvements.
IntelliMenu and IntelliTracker are big departures from the industry norm.
While the majority of competitors traditionally focus solely on products, GMAC
Insurance is redesigning its entire portfolio of offerings around dealer-
focused solutions - integrating F&I products with on-going dealership training
and best-in-class tools to provide a complete, packaged solution.
"Our business model is built around developing products, services and
training that address specific issues raised by our dealer-customers.
IntelliMenu and IntelliTracker were both born out of our ongoing conversations
with dealers," said Callahan.
By integrating with major DMS providers, web-based IntelliMenu provides a
seamless sales transaction, giving dealerships an easy, affordable way to
structure multiple deals in the F&I office. IntelliMenu further assists
dealerships with disclosure needs, allowing dealers to show every customer a
complete listing of product offerings, while providing a record of acceptance
or decline.
IntelliTracker integrates with IntelliMenu providing dealers and their
GMAC Insurance account executives with up-to-the-minute information on F&I
sales results. An individually tailored approach to maximizing sales is then
jointly developed based on the needs of the dealer, and any necessary training
is immediately set-up.
The entire process will be made available to dealers in mid- to late-
January. Dealers interested in more information can contact their GMAC
Insurance representative. Additionally, reps will be available to demonstrate
these new solutions in GMAC Insurance's booth at the National Automotive
Dealers Association (NADA) Annual Convention on Feb. 9-12 in San Francisco.
"I encourage every interested dealer to stop by the GMAC Insurance booth,"
said Callahan. "While there is no silver bullet to address dealer needs, we
believe GMAC Insurance can offer real solutions with the depth and breadth of
our products and proven F&I capabilities."
About MenuVantage
MenuVantage, based in Orlando, Fla., provides automotive dealers with best
in class F&I tools to ensure compliance and increased per unit profit. The
MenuVantage system offers F&I departments the most advanced technology
available on the market today to increase F&I sales. It is also capable of the
electronic submission of warranty and F&I products to providers, real time
service contract rating, and the dynamic printing of documents on regular
paper. Founded in 2003, MenuVantage has enjoyed tremendous growth and
currently services more than 2,500 users at automotive dealerships in over 42
states nationwide, processing more than 70,000 deals per month. MenuVantage
can be reached on the web at http://www.menuvantage.com.
About GMAC Insurance
The GMAC Insurance Group is part of GMAC Financial Services, a global,
diversified financial services company that operates in approximately 40
countries in automotive finance, real estate finance, insurance and other
commercial businesses. GMAC's insurance operations were first established in
1925, and now offer a wide range of products to meet the needs of retail
consumers, dealers and business partners. For more information, please visit
www.gmacfs.com.
SOURCE GMAC Insurance Group
Sarah Comstock of GMAC Global Communications, +1-313-656-6954,
Sarah.N.Comstock@gmacfs.com
