CAAREA Solution:
Development of a complete range of services and affinity insurance designed to protect the subscriber's capital in case of an event causing disruption to his or her mobility. From a simple electronic breakdown to total loss in the event of theft, not to mention aesthetic damage caused to a vehicle's upholstery, customers are protected against all risks related to their vehicles. Embedded in the credit through promotional offers, this affords an opportunity to stand out for service rather than rates, facilitates communication and builds buyer loyalty towards the brand, its captive and its network.
Results :
- Boosted by CAAREA Solutions' API distribution, the penetration rate of the option reaches over 50% of all loans, generating an immediate additional margin for the captive.
- A 5% volume increase in loans, with some customers taking out financing expressly to benefit from the additional services.
- A 6-month extension of the average financing term, as the additional services encourage customers to maintain their credit.
- A 10% decrease in delinquencies.
- By protecting the client's capital and economic contingencies, CAAREA affinity insurance also secures the auto finance company's portfolio and interests.