Revolutionizing Risk Management in the Automotive Industry
The automotive industry is undergoing a significant transformation, and Connexion Mobility is at the forefront of this change. By partnering with Modives, a leading insurance verification and monitoring company, Connexion Mobility is bringing cutting-edge identity and insurance verification solutions to the automotive space.
The Cost of Outdated Verification Processes
Traditional verification methods are no longer sufficient, resulting in substantial costs for dealerships, including vehicle downtime, repair expenses, business interruptions, and liability risks. The stakes are higher than ever, with the Federal Trade Commission’s updated Safeguards Rule imposing new compliance obligations on auto dealerships, OEMs, and lenders. Failure to comply can lead to fines of up to $51,744 per violation.
A Secure, Automated Solution
Modives’ patent-pending insurance verification app, CheckMy Driver, and CheckMy ID provide a secure, automated, real-time solution for insurance and identity verification, meeting the new compliance requirements. This integrated system protects customer data, reduces dealership liability, and enhances operational efficiency.
Enhancing Customer Experience and Reducing Risk
By integrating CheckMy Driver and CheckMy ID into Connexion Mobility’s fleet and rental management platform, dealerships can improve operational efficiency, reduce risk, and provide a better consumer experience. Express Check-in and higher dealer Customer Satisfaction Index (CSI) ratings are just a few benefits of this innovative solution.
Unlocking New Revenue Opportunities
Dealerships can leverage insurance and identity data to identify sales opportunities for upgrades, new cars, and products like warranties and vehicle service contracts (VSCs). This partnership enables dealers to turn routine transactions into strategic opportunities, uncovering new revenue potential.
Industry Leaders Weigh In
Connexion Mobility CEO Aaryn Nania emphasized the importance of delivering valuable innovation to the automotive industry, stating, “By turning routine transactions into strategic opportunities, we are not only enhancing customer experiences and protecting OEMs and dealers’ businesses but also helping our dealers uncover new revenue potential.”
Modives CEO Fred Waite added, “By integrating CheckMy Driver and CheckMy ID into their dealers’ workflows, Connexion not only empowers dealers to mitigate risks but also leverages the resulting unique customer data for revenue-generating activity.”
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