NAPA, Calif. — At its recent annual agency meeting, vehicle service contract administrator AUL Corp. unveiled its new Absolute suite of products for franchise dealers. The all-new Absolute program was developed in conjunction with AUL's agents from the ground up to meet the changing demands in the marketplace, officials said.
"We spent a lot of time in the development of this product with our agents to ensure we were highly responsive to the dealer's needs," said Jason Garner, general sales manager. "Our creative approach extended to not only Reserve Care Plus, our exclusionary new vehicle offering featuring versatile Hybrid and Electric Vehicle coverage. We further developed Reserve Care Lease, Certified Warranty and Wrap as well as Lifetime Warranty and Wrap so the dealer has a complete marketing strategy to not only increase F&I income but also sell more new and used vehicles."
The Absolute suite of products also features Absolute Profits, offering multiple avenues for dealer participation based on their individual needs. Reinsurance as well as underwriting participation programs combined with volume incentives will allow a dealer to maximize ROI for their vehicle service contact program, officials noted.
"It was important that this new suite of products be as innovative and revolutionary as our Any Year, Any Mileage concept was in 1990," said Luis Nieves, founder and CEO. "AUL became the leading used vehicle service contract provider with our personalized approach and appreciation for our dealers; we bring that same enthusiasm and dedication to this new offering."
Internally, AUL has invested heavily in infrastructure for compliance, product development and risk management to support new programs like Absolute.
"Bringing to life the product that Jason, our GSM, and agents imagined was truly exciting,” said Matt Russell, AUL risk manager. “We used a granular approach with multiple layers and variables so that each make and model was uniquely priced. In the end, we developed over 9,000 prices across 6 different products. We're confident this will be a great product for our agents, dealers, and contract holders."
The Absolute suite of products has been met with unbridled enthusiasm from AUL agents. The multi-tiered approach ties in with AUL's core used vehicle programs and provides agents with a program that will be essential to an agency's offerings. All programs are fully electronic and supported through the company's website. AUL is integrated with most menu and DMS systems allowing a seamless connection for the dealer to quote, sell and fulfill through their dealership platform.
"This is an exciting time in the automobile business," added Garner. "This next-generation suite of products truly delivers a breakthrough opportunity for our agents and dealers and delivers on the promise of AUL to be the industry best at customer service and support."