WESTERVILLE, Ohio — Continental Warranty reported today that Over the Edge’s administration system and rating engine, TecAssured, has cut the time required to administer F&I and aftermarket product contracts by 25%.
Prior to implementing TecAssured, the F&I product provider said it could take 30 to 45 days to receive sold contract from its dealers. Today, those same contracts are received instantly, saving at least 900 hours annually in contract administration.
“With TecAssured, we benefit from the ease of managing thousands of policies monthly from both our direct and agent markets,” said Anthony Volpe, vice president of Continental Warranty. “TecAssured saves a tremendous amount of time on data mining those contracts. The platform also gives us great insight into our business.”
The TecAssured administration application allows agents and third-party administrators to easily manage pricing and products, or create blended offerings for specific vehicle groups. Dealers can easily access their TecAssured web portal, type in a VIN and odometer reading, and instantly view a list of products, terms, and pricing available for that vehicle. Once the product sale is complete, the final contracts are submitted to the administrator(s) and PDFs are created to easily print for customers.
“TecAssured also enables administrators to pull any report they want — for all dealers at once, per dealer, or for a specific program or product,” Volpe. “Previously, with paper contracts, we didn’t have quick access to this information. Now, we can see what’s working, identify any challenges, and address them proactively.”