Lexington National Specialty has launched its “LNS LionShare” model, which would provide direct-to-dealer line of contractual liability insurance policies (CLIPs).
CLIPS is capable of back-end servicing which is necessary to efficiently administer vehicle service contract.
“Dealers do all the work, take all the risk, and invest significant resources in bringing customers to the point of purchase,” said William Diones, vice president of specialty products, Lexington National Insurance Corporation. “Why should they share the rewards from the most profitable element of that sale with third parties that provide outdated systems and one-size-fits-all solutions?”
Adding to this solution, Lexington has partnered with PCMI, an integrated software solutions provider for extended warranty management and F&I administration.
Lexington National Specialty, surety underwriter and contractual liability provider aims to help dealers reach better profitability and an avenue to deliver better service to clients, which can result in increased sales opportunities in the future.
“In an industry that is changing quickly and continues to face shrinking per vehicle revenue, we simply think that now is the time for auto dealers to push for the continued evolution of their companies and their industry by controlling this critical driver of profit,” said Ronald Frank, chief executive, Lexington National Insurance Corporation. “It's ludicrous for sophisticated dealers to give away so much of their profit.”
Get started by knowing more about LionShare by contacting William Diones at 303-803-0440 or email wdiones@lexingtonspecialty.com.
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