product administration - Dealership Corridor

– EFG Claims Professionals Meet Recognized Standards for Certification-

EFG Companies, the innovator behind the award-winning Hyundai Assurance program, announced today it has been awarded the Blue Seal of Excellence by the National Institute of Automotive Service Excellence (ASE), based upon the required certification level of its claims organization. This certification exemplifies EFG’s commitment to customer service excellence while also enhancing the company’s ability to negotiate quality vehicle repairs on behalf of contract holders.

EFG continuously strives to raise the industry bar when it comes to providing superior products, administration and compliance. Earlier this year, EFG achieved 100 percent field team certification from the Association of Finance and Insurance Professionals (AFIP). With these two certifications, the company sets the industry example for leadership in effectively training, auditing and administering their clients’ business to whom these services are a critical priority.

“Our clients rely on our expertise when it comes to negotiating quality repairs for their customers,” said Barry Carter, Chief Operating Officer. “Our claims administration reflects back on their business and brand. By demonstrating our high level of expertise with this certification, we are giving our clients even greater confidence that all claims will be handled expertly, efficiently and respectfully, promoting a positive overall customer experience and driving greater customer loyalty for their business.”

Established in 1972, the National Institute for Service Excellence (ASE) seeks to improve the quality of vehicle repair and service by testing and certifying automotive professionals, the ASE National Institute exists to protect the automotive service consumer, shop owner and automotive technician. This certification provides legitimacy to both the repair shop and the claims administrator by signifying their level of expertise and recognized standard of their technical knowledge.

Throughout its 37-year history, EFG has continually demonstrated their commitment to exceed customer expectations. Customer service and claims administration standards and real-time performance is continuously projected on the company’s walls as a constant measure of performance. 95.88 percent of claims calls are answered within 90 seconds, and 96 percent of all claims are paid by corporate credit card within one hour of receipt of invoice.

EFG believes longevity and success is ultimately measured by a simple premise: keeping a promise to a customer at a time when they need it most. EFG prides itself on being a claims-honoring third-party administrator and this certification only enhances the company’s ability to fulfill that promise.

Congratulations! Your VSC penetration is up and so is your F&I income. Your F&I department is rocking on upselling consumer protection products with your vehicles. You can’t believe the success you are having with sales and F&I. Your customers are happy all the way until they leave the dealership and drive home. But guess what, their experience with you hasn’t ended.

Because your customers choose your F&I products, their experience with those products will reflect back on you. You can have the greatest closing numbers in the world, but if your F&I products don’t reflect the service you provide in the dealership, your customers will most likely not return for their next purchase.

Good experience with an F&I product goes beyond claims paid to the customer service provided to both your customers and your service center. Think on your own experience with call centers. The ones you hate are the ones that keep you on hold too long, don’t address your questions, or keep transferring you between departments. Good customer service includes answering phone calls immediately, listening to customer concerns, and answering all questions politely. This experience is often even more important than monetary matters. When looking at your product administrator, look beyond the number of claims paid and average amount paid to the customer experience. Ask yourself:

How quickly are calls answered?
- Anything over 60 seconds is unacceptable.
What is the average call time?
- There is an art to a good service call. It shouldn’t end too quickly, leaving the caller more confused, and it shouldn’t linger. Good adjusters or customer service representatives move the conversation along efficiently and end the call between 3 minutes and 5 and a half minutes.
How often are calls abandoned?
- If more than 5% of callers hang up, there’s a problem.
What is the average availability of a service representative or a claims adjuster?
- This affects everything else. Without at least 75% availability, calls will not be answered promptly, therefore more will be abandoned.
Is it easy for my customers to get answers to frequently asked questions, such as policy coverage or claim status?
- These should be available in a number of places, such as online, within the administrators automated phone system, and in print form.

It’s pretty easy to tell whether your customers are having a good experience with your F&I products by just walking into your service center. If your team members are complaining about never getting through to the administrator to initiate a claim, get a status, or get payment, it’s likely that your customer is having the same poor experience. One conversation you never want to hear is:

Service Advisor: “We couldn’t process your claim with your product administrator.”

Your Customer: “I bought the car through you, what do you mean you can’t process my claim?”

Service Advisor: “It’s not us, it’s the product administrator.”

Your Customer: “I can’t believe this service! I’m never bringing my car here again and you can be sure I won’t buy from you again either!”

The best way to avoid the scenario above is to ensure a good customer experience from the day they purchase their car. With over 36 years in innovating and administering consumer protection products, EFG knows the importance of customer service and that our efforts reflect back on our clients. That’s why we perform monthly audits based on daily results to ensure that your customers and service advisors always have the best experience. We continuously strive to keep abandon rates below 5 percent, answer every call within 60 seconds and to provide answers or process a claim as quickly and efficiently as possible.

At EFG, your reputation is our business. Contact us today to find out more about our commitment to your success through product administration.