Cooper Solutions reports a 25% year-on-year increase in vehicle loan days as retailers benefit from vehicle sales and growing aftersales services
Cooper Solutions has revealed a 25% year-on-year increase in the number of days retailers took advantage of its FullCover daily rate insurance for customer loans. A buoyant new and used car sales market in 2016, and growing service and repair business for retailers, helped to fuel this growth, alongside an expanding portfolio of franchised and independent retailer clients.
Dean Pipitone, Director at Cooper Solutions explains: “In the main, retailers continued to see strong sales in 2016 which boosted demonstrator loan car activity. However, where we saw the most notable increase in loan car activity was in the aftersales departments, with retailers investing in larger courtesy car fleets for the benefit of service and repair customers.”
A key driver behind the success of FullCover, is Cooper Solutions partnership with one of the UK’s leading Chartered Insurance Brokers, Cooke & Mason, an expert in obtaining optimum cover at a highly competitive price, whilst utilising the best software and service for every customer. What’s more, the propensity for a successful claim via a broker adds to a retailer’s customer satisfaction levels; according to figures released by the British Insurance Brokers Association (BIBA), 94% of brokers overturn a claim rejection occasionally or often, and 87% of brokers often negotiate 11%-20% uplift on claims.
Concludes Dean Pipitone: “Our partnership with Cooke & Mason, without doubt, strengthens our FullCover proposition and gives us an edge over other providers who don’t have the support of a broker. By placing an emphasis on providing the best cover at the best price, we ultimately enhance the experience our retailer clients offer their customers, whether the customer is looking to buy, or returning for aftersales support.
“Whilst longer term new and used sales for 2017 are tricky to predict, take up of our daily rate insurance is already showing a very promising start to the New Year.”