PCMI Delivers New Software suite for Auto Dealers, Agents and TPAs to Sell and Manage Automotive Service Contracts and Aftermarket Products
PCMI’s Policy Claim and Reporting Solutions (PCRS) platform helps increase F&I sales, improve claim results, and simplify reporting for insurers, third-party administrators and auto dealers.
CHICAGO, IL, July 2, 2013 – PCMI Corporation’s modular Policy Claim and Reporting Solutions (PCRS) software suite improves extended warranty and automotive aftermarket product sales, claims administration, reinsurance and F&I reporting for insurance companies, third-party administrators, agents and auto dealers.
“PCRS’s unique warranty processing methodology helps companies selling and marketing F&I insurance products hit their sales targets,” said Mark Nagelvoort, PCMI President and CEO. “It does so by providing deep activity insight to help increase F&I product penetration and then it correctly reports these products’ revenue flow.”
Tricor Automotive Group recently installed several modules of PCRS to improve how its dealerships sell, service and report F&I product earnings. Joe Campbell, Tricor President and CEO, said PCMI has the industry insight and record of accomplishment to help the company and customers it serves hit their F&I sales targets by providing the insight needed to increase product penetration.
“PCMI speaks our language and understands that we come at the warranty and F&I business from the dealer side rather than strictly from the warranty administration side,” Campbell said.
PCMI’s closed-loop offering provides the “cradle to grave” software system he sought for Tricor, he added. “This system shows us not only what products we sell but also what is sold in the dealership as well as the total return to the producer, which in our case includes the reinsurance opportunity.
“In other words,” he continued, “this system links the effects of what is sold upfront to the backend, so we can look at the productivity of the dealership. For instance, if the system reports that production increased by X, what does that cause to happen in our reinsurance company, not just what the profit is in the stores.”
PCRS’ flexibility enables users to add quickly product offerings and types of products, such as GAP, PDR and others, without any programming required.
“PCMI solves the industry’s accounting system challenges, in that prior to PCRS no existing warranty product tool was able to accurately support the sale of warranty products and precisely report earned warranty premiums,” Nagelvoort said.
PCRS Improves Sales
- Identifies what products are selling and by which producer.
- Makes selling and quoting products more streamlined. It does so by simplifying how easy it is to add new and different product mixes to the menu.
- Adapts quickly to new market focus, enabling providers to enter new markets, such as used vehicles, and addresses different geographical needs, by providing language, currency and tax logic for different States and countries.
- Ability to audit that what is sold at the dealership is correctly reported to TPAs and insurers.
PCRS helps retain margins on the sale of aftermarket products and reduces time required for dealerships to handle claims. It enables dealers to self-report and manage claims and automatically obtain claim approvals via integration with repair orders through the dealer management system.
PCRS’s claims module supports not only extended warranty policy and claim administration, but also ancillary F&I products like vehicle service contracts and GAP, as well as Appearance Protection, Paintless Dent Repair, Loyalty Products, Tire & Wheel and Limited Warranty products.
PCMI when integrated with other systems consolidates other systems’ reporting into highly readable and understandable graphic reports. For agents and others having to represent production results for their products, providers, and clients, this graphic clarity helps identify marketing and sales strengths and opportunities. For example, it consolidates all key reporting, through a single access in PCRS, for a single dealership and dealership groups as well as the agents and agencies and TPAs:
- F&I reports
- Commission reports
- Billing statements
- Financial statements
- Reinsurance statements
These reports, which are accessible by mobile devices, put the reporting in the hands of agents and management team that have to marketing decisions on the go.
Campbell said PCMI offered Tricor the most complete technology solution for his unique business need.
“We service Canadian auto dealers, and PCMI adapted its claims and reporting modules to the uniqueness of our market, which allows us to report results the way we want to see the data, not the way some vendor thinks we need to see it,” he said.
“We looked at several solutions before selecting PCMI, and while every provider seems to have an administration piece of the pie, what we needed was a complete package and someone willing to work with me to develop the right solution for our needs,” Campbell added.
Nagelvoort, who pioneered eContracting, eRating and eRemittance technologies, has more than 25 years’ experience assisting companies in extended warranty products in the auto, consumer and home warranty sectors. Prior to forming PCMI, Nagelvoort was the president of NAT, Inc., the first dealer-to-insurer product e-gateway, acquired by DealerTrack in 2005.
PCMI also recently signed an international bi‐directional integration agreement with ADP Dealer Services, the first ADP Third Party Access Program provider certified for Aftermarket Product Sales in the service department.
With world headquarters in Chicago, IL, PCMI also serves the globe with additional offices in Krakow, Poland, and in Chiang Mai, Thailand. PCMI provides the only policy, claim and reporting solution for extended warranty sales, claims and reporting available in multiple languages.
For more information, visit pcmicorp.com or contact Mark Nagelvoort at PCMI at (847) 653-6916 Ext. 100.