Connect with us

International

CDK Global will acquire insurance technology provider Salty Dot Inc.

Published

on

 


CDK Global Inc. sales management system giant plans to buy Salty Dot Inc., a company that allows consumers to digitally purchase vehicle insurance at the same time as they purchase a vehicle, the companies said Thursday.

The terms of the agreement were not disclosed. COO Global CDK Joe Tautges said Automotive news that Salt is considered a “fast-growing company, in the early stages” and that the purchase price falls below the thresholds of public disclosure. The deal is expected to close in October and will not affect the company’s financial guidance for fiscal year 2022, he said.

CDK, of Hoffman Estates, Ill., Said the addition of Salty, founded in 2019 by CEO James Hall, to its product line would provide software tools that go beyond helping merchants in the digital operation of stores. tire. The company said vehicle insurance could become a new revenue stream for vehicle dealers and give them more opportunities to connect with their customers after they have purchased a vehicle.

“Traders are the natural point of importance as consumers seek to buy insurance,” Tautges said. “Wherever you are, you have to think about how to secure this vehicle? And Salt, from our point of view, has the best, most advanced, mobile platform.”

Tautges said CDK in recent years has analyzed what consumers want from a vehicle transaction and the values ​​of simplicity, convenience and a frictionless experience that emerged were among the reasons the company bought the digital retail provider Roadster in June and its management system. Elead customer relations in 2018. With

Improving the purchasing process

The acquisition of Salty, based in Salt Lake City, seeks to improve the customer buying experience in similar ways, he said.

“Consumers have historically had to leave the journey to buy the car, go and enter a process of selling insurance and return to [the vehicle purchase] and verify that they have provided coverage, “Hall said.

Salty’s Embedded Insurance tool works with retailers to allow consumers to receive a vehicle insurance quote from participating carriers before completing their vehicle purchase, Hall said. Once a customer has agreed on the purchase price, payment and trading value and the deal is moved to the finance and insurance office they can receive a text message from Salty’s digital platform giving their quote, he said.

“How do we solve the fact that most people do not like to buy insurance because it is stressful, it is complicated, it is confusing for most people, and yet, everyone needs it?” Tha Hall.

“We were trying to create a solution for it using technology, and this solution for us is Embedded Insurance – insurance where technology drives the best insurance a consumer can find in a market for their risk class, all on top of the fingers of their mobile device, without having to spend much time [or] talk to an agent. “

Salt works with just over 500 franchised dealers, Hall said. In July, the company said is partnering with Asbury Automotive Group Inc. to incorporate Salty security technology within Asbury Clicklane’s digital retail platform.

Hall said Salty is a licensed insurance provider in all 50 states and works with about 12 to 18 insurance carriers, including national and regional providers. The platform can work with merchants regardless of their sales management system, digital retailer or other software providers. Tautges said Salty software will maintain that access once the purchase is complete.

The roots of an agreement

The acquisition took place about six months ago when Hall contacted CDK for Salty’s integration into CDK Fortellis’ open network development platform, Tautges said. This led to deeper discussions about how companies could instead work together through a acquisition, he said.

When the acquisition is complete, Hall will join CDK as head of the company at Embedded Insurance, Tautges said.

CDK in March completed the sale of its international business to private equity firm Francisco Partners, in a $ 1.45 billion transaction. CDK at the time said it intends to use the proceeds from the sale to invest in its operations in North America, which include DMS and other sales software tools in the US and Canada.

“We enjoy a very strong balance sheet, from our perspective, of being able to make purchases,” Tautges said, adding that CDK will continue to evaluate deals that aim, among other things, to improve the customer experience that a trade can offer.

The CDK in August issued revenue guidance of $ 1.78 billion to $ 1.82 billion for its fiscal year 2022.

Sources

1/ https://Google.com/

2/ https://www.autonews.com/retail/cdk-global-acquire-insurance-tech-provider-salty-dot-inc

The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

ExBUlletin

to request, modification Contact us at Here or [email protected]