MeasureOne Unveils Auto Insurance Policy Updating: Streamlining the Car Buying Experience by Eliminating Bottlenecks

SAN FRANCISCO, Oct. 3, 2024 /PRNewswire/ -- MeasureOne, a leader in consumer data access and verification solutions, is proud to announce the launch of its latest feature, Auto Insurance Policy Updating, designed to tackle one of the auto dealership industry's biggest challenges—manual insurance policy updating and general inefficiencies in the Finance & Insurance (F&I) process.

Improving the speed and efficiency of finance and insurance (F&I) operations is not just a matter of convenience; it's crucial to enhancing customer satisfaction and maintaining competitiveness in a rapidly changing market. Ensuring a new vehicle is added to a policy and a lienholder is updated during the car buying journey is often a significant bottleneck for dealerships and car shoppers, slowing down auto sales.

MeasureOne's Chief Executive Officer, Elan Amir, notes the importance of the right technology for these audiences, "At MeasureOne, we're committed to creating solutions that remove friction from critical points of business processes, and our Auto Insurance Policy Updating solution is a perfect example of our commitment to making consumer data more accessible for any transaction." Amir continues, "We're proactively addressing the challenges auto dealerships face by integrating automation that simplifies the finance and insurance process, reduces delays, and enhances the overall car buying experience for consumers and dealers alike."

MeasureOne's Head of Insurance, Matt Donovan, adds, "Automating policy updating allows dealers to effortlessly add a vehicle or update the lienholder on a buyer's insurance policy. In just a few steps, we eliminate the manual phone calls or back-and-forth emails with insurance companies."

MeasureOne's Auto Insurance Policy Updating is an easy experience for both the Dealer and the buyer that takes place in real time while the buyer and dealer are engaged in the F&I process:

1. The Dealer creates a request to update a buyer's policy
2. MeasureOne sends a link to the buyer through email or text
3. The buyer follows the link and confirms the required changes to their policy
4. MeasureOne updates the policy and sends a confirmation to the Dealer
5. The dealer receives the confirmation and verifies the updated policy

MeasureOne will be debuting the innovative new feature at Auto Finance Summit and Digital Dealer in Las Vegas this week and are looking forward to connecting with lenders, dealers, and partners to help them streamline their services and expand their businesses.

More about MeasureOne

MeasureOne has quickly emerged as a leader in the automotive space, thanks to its innovative approach to automated auto insurance solutions. Over the past year, the company has introduced cutting-edge tools that streamline key processes for dealerships, such as insurance verification and policy updates, helping to reduce delays and improve the car-buying experience. With seamless API integrations and a focus on automation, MeasureOne is empowering dealerships and DMS providers to enhance their operations and stay ahead in a competitive market. This rapid growth underscores MeasureOne's commitment to delivering technology-driven solutions that meet the evolving needs of the automotive industry.

SOURCE MeasureOne