Cox Automotive, the world’s largest automotive services and technology provider, and Canopy Connect, the leading insurance verification platform, announced a new collaboration to embed insurance verification and servicing capabilities into Cox Automotive’s Ecommerce solution to enhance the online car buying experience for consumers and dealerships.
Cox Automotive Ecommerce provides a fully automated and online consumer car buying experience. Through state-of-the-art automation and AI capabilities, the collaboration will improve upon the traditional deal process while delivering increased efficiency and fraud prevention measures that benefit both car shopper and dealership.
Approximately seventy percent of car shoppers engage in some form of ID verification during their shopping experience, according to Cox Automotive Ecommerce Platform Analytics (September 1, 2023, to November 30, 2023). Integrating Canopy Connect’s insurance verification and servicing technology builds on Cox’s vision to transform the auto retail transaction, making it more convenient for consumers to verify their insurance and reducing risk of fraud for automotive dealers.
“We set out to build an end-to-end online car buying platform and knew that insurance verification was a key part of the F&I process that was missing,” said Paulo da Silva, vice president of operations for Ecommerce at Cox Automotive. “We worked with Canopy Connect’s technology and team to bridge that step so our dealer partners can create a trusted and comfortable environment for online transactions with their consumers.”
“Canopy Connect’s technology helps Cox Automotive Ecommerce realize its vision for an end-to-end online car buying experience,” said Tolga Tezel, founder and CEO at Canopy Connect. “We look forward to further integrations with Cox Automotive’s portfolio of products to add insurance verification and servicing capabilities.”
Learn more about how Canopy Connect and Cox Automotive Ecommerce work together here.