JM&A Group, one of the largest independent providers of finance and insurance (F&I) products in the automotive industry, is bringing the Virtual F&I playbook, model and strategy to all of its existing dealer customers across the country.
Since 2018, JM&A has been vigorously piloting and testing Virtual F&I with five different dealership groups in the market. JM&A’s Virtual F&I has supported more than 1,000 virtual deals while maintaining profitability per vehicle retailed and selling an increased number of products per deal. While this new model has been an evolution and a learning process, dealers who have partnered with JM&A have seen great gains both from a business perspective and in customer satisfaction during the pilot phase.
For years, the changing demands of automotive customers have propelled dealerships and their service providers to implement faster, more streamlined processes to complete the sales transaction. With JM&A’s Virtual F&I process, dealers receive:
- Proven best practices on how to facilitate the F&I transaction using video communication technology, regardless of where the consumer and F&I manager are physically located.
- A comprehensive Virtual F&I playbook, including process maps, rollout plans, thought tracks, technical requirements, and other resources to support the implementation and management of Virtual F&I at scale.
- Strategies on how to utilize Virtual F&I to complete more F&I transactions and outperform industry standards.
“We view Virtual F&I as the long-term solution for dealers interested in making an investment in the development of an omnichannel approach to vehicle sales,” said Forrest Heathcott, president of JM&A Group. “Now, more than ever, our goal is to simplify the F&I process, making it more efficient and profitable for our dealer customers while enhancing the digital experience for the consumer.”
JM&A’s field team of trained subject matter experts are prepared to help bring a Virtual F&I process to its dealer customers so they can be at the forefront of digital retail, provide a modern customer experience and increase profitability.
“Given the environment we find ourselves in with the COVID-19 pandemic, we have decided to accelerate our efforts and feel it’s important to help dealers deliver F&I virtually so they can serve their customers as best they can,” added Heathcott.