Agent Entrepreneur had the opportunity to catch up with David Trinder, CEO of F&I Administration Solutions, about the technology that is influencing the industry. Trinder’s company is expanding the use of technology for general agents (GA), making things possible today that were not before. As agents, you have a tremendous opportunity with these new tools. Technology plays a major role in the business world today, and most importantly, the way business will be done in the future. The agents who embrace it will separate themselves from the rest.
Tell us about your company? And, specifically, what products do you offer and how can they add value to/for the GA?
Trinder: We deliver the leading solution for the administration of F&I products including VSC, GAP, PPM, Appearance Protection, Theft and more. Our SCS Express offers a turnkey solution for quickly setting up products, dealers and rates so that they can be eRated, eContracted and eRemitted via the private-labeled DAP dealer portal or through any of the top 15 menu and other dealer systems available today. We also facilitate data transfer so contracts can be transmitted to multiple providers and/or carriers that an agent typically works with. Further, since SCS is a complete administration system, should an agent want to administer products, this solution will deliver to their every need.
Looking back over the past few years, how has this changed?
Trinder: Technology has changed everything. A few years ago, it was too expensive for an agent to consider taking on product administration. Now, with the internet and our SaaS model, not only is it affordable, but it will make you more connected to dealers and more efficient than many of the top administration companies are today.
As an industry expert, what advice can you give our GA readers to make themselves more valuable to their dealerships?
Trinder: Embrace technology. Don’t let yourself or your dealer get left behind. It is mainly through the use of technology that dealers will save costs while growing their business.
What products do you see performing well right now? What products do you think will be “Hot” in the future?
Trinder: Over the last year or so, all product sales have risen. In particular, we see an increase in products that offer broader coverage in a single transaction, either because they are presented as a package via a menu or other eRating tool, or because they are innovatively packaged into a single product with multiple benefits. An example of this would be a combination of Dent, Ding, Appearance Protection and Windshield protection into a single product that is branded uniquely. Also growing are products that provide customers more flexible choices in terms and coverages that are offered. An example would be VSCs that are sold for 37 or 49 months, rather than the traditional 36, 48, 60, 72 months thereby giving the F&I Manager more ways to tailor the product to a particular customer’s budget and needs.
F&I Admin has been at the forefront of mobile technology. Can you give our readers an update on your current mobile apps and any apps you have coming? How will this help the independent agent?
Trinder: Independent agents who are selling products that are managed on an F&I Admin system will soon be able to receive real time data on dealer sales volumes and much more. A GA can do a much better job on a dealer visit if they know how many quotes were done and contracts signed by that dealer that day, week or month.
Looking back over the last 5 years, how has the industry changed and how do you see it changing in the future?
Trinder: Five years ago, with the exception of the DMS and electronic credit apps, technology played a minor part in the F&I office. Now there are sales tools and many other systems that add great value to the process. Look for better integration of products in the future and expect data at your fingertips through mobile devices.
