Monday, Oct. 01, 2007, 08:00 PM UPDATED 11:59 AMBy Nick Zulovich
WAYNE, Pa. — MaximTrak, an F&I menu system provider, recently announced that it has launched a real-time integration partnership with the Universal Warranty Corp., which is a subsidiary of Motors Insurance Corp.
The integration partnership is designed to allow dealers to rate vehicle service contracts based on the VIN of the vehicle instantaneously.
Officials said the technology will reduce rating and miscellaneous errors at the dealership level by 30 percent, and will eventually speed up the amount of time that it takes to register the sale of all vehicle service contracts sold.
The next step in the evolution of the integration partnership will be to integrate Universal Warranty's contract printing technology into the MaximTrak application so that dealerships will be able to rate, print and register all contract submissions, effectively eliminating the 45- to 60-day lag in the contract registration process, executives added.
Jim Maxim, president of MaximTrak, explained, "We deeply value the tremendous relationship that we have with Jeff Moon and the rest of the Universal Warranty team. The integration of Universal Warranty's VSC rates and tables will allow hundreds of users to simplify the way they do business today.
"We are both extremely excited for our mutual customers and the way that this technology and partnership will benefit them. We look forward to supporting the integration efforts in the future as we both continue to grow our respective businesses," he continued.
Meanwhile, Jeff Moon, president of the Universal Warranty said, "We are pleased to be working with MaximTrak to provide dealers leading-edge technology designed to help them speed sales and increase efficiency inside the F&I office."
MaximTrak said it has seen a strong increase in market presence and is working with multiple aftermarket companies, vehicle service contract administrators and captive finance companies to increase same-store product sales while reducing back-end cost inefficiencies through its technology platform.