MotorDNA introduces its MotorDNA Insurance Marketplace. With a visionary approach, this digital Marketplace connects auto dealerships, digital car-selling platforms and insurance carriers, creating an ecosystem that transforms how insurance is quoted, purchased and experienced during the vehicle-buying process.
According to a press release, the MotorDNA Insurance Marketplace is a game-changing solution designed to enhance auto dealerships’ profitability and consumer satisfaction while offering insurance carriers a direct channel to engage potential customers. This revolutionary product bridges the gap between the automotive and insurance industries, presenting unprecedented benefits for all stakeholders.
Integrating seamlessly into the auto dealerships’ F&I workflow and tech stack, the MotorDNA Insurance Marketplace ensures a streamlined and efficient experience for dealers and consumers. With zero distractions during the vehicle-buying process, consumers can now receive direct insurance quotes from carriers as they explore their vehicle purchase options. The Marketplace eliminates the need for intermediaries and simplifies the process, empowering consumers to make informed decisions about insurance coverage that complements the safety features of their chosen vehicle.
“Our mission with the MotorDNA Insurance Marketplace is to empower auto dealerships and insurance carriers,” said co-founder and CRO Tom War. “Auto dealerships have a unique opportunity to increase their revenue by 3-7% on every vehicle sold. By offering consumers a direct line to insurance quotes tailored to their chosen vehicles, dealerships can enhance consumer loyalty, lower the total cost of vehicle ownership and take a confident stride into the future of connected car data revenue.”
One of the most impactful aspects of the MotorDNA Insurance Marketplace is its potential to reduce customer acquisition costs for insurance carriers significantly. The Marketplace connects carriers directly with consumers at the prime moment — when purchasing a vehicle and considering insurance options. This approach is a step toward the evolution of embedded auto insurance, fostering an organic and direct connection between carriers and customers.
“The MotorDNA Insurance Marketplace represents a pivotal shift in how auto insurance is presented and experienced,” said co-founder and CPO Vik Dhawan. “It’s a mutual win for both dealerships and insurance carriers. Dealerships can generate additional revenue while becoming central to their customers’ comprehensive vehicle experience. Carriers can engage consumers at a critical decision-making juncture, ushering in a more cost-effective and direct customer acquisition method.”