Polly released our Quarterly Embedded Auto Insurance Report today. In this quarter’s report, Polly analyzed 384,121 vehicle sales at 19 dealer groups with 178 rooftops. Results show:  

• Insurance Conversations Impact F&I Profit: Customers in Polly’s data set who received insurance quotes spent an average of $264 more in the F&I office than those who did not. 
• Insurance Saving are Linked to Even More Profit: Dealerships in the data set saw an average $636 increase in back-end gross when car buyers saved on their new insurance. 
• 2024 is a Big Embedded Market Opportunity: The data shows that the hard auto insurance market of 2023 is set to improve dramatically in 2024. 

Chief Marketing Officer Mike Burgiss said: “The data from 384,121 vehicle transactions reinforces what we already knew to be true: an insurance program in the dealership correlates to an increase in dealership profitability. When customers just receive insurance quotes, back-end gross lifts by $264 on average just though the anticipation of savings. But when car buyers switch insurance and save, back-end gross lifts by a stunning $636 compared to customers who don’t see insurance in the process.”

Polly’s data couldn’t come at a better time for dealers, as post-COVID margins.