Measure Auto Dealers’ Satisfaction with Finance and Insurance Firms

The Federation of Automobile Dealers Associations (FADA) and PremonAsia have collaborated to conduct a dealer satisfaction study focusing on finance and insurance in the automotive industry. This study aims to understand dealer expectations from finance and insurance companies and evaluate their performance in meeting these expectations. Covering all segments of the industry, including 2-wheelers, 3-wheelers, 4-wheelers, and commercial vehicles, the study will delve into key areas such as retail and wholesale finance, insurance, and dealer-business relations.

The survey will concentrate on five to six key factors of the OEM-dealer business relationship, including ease of policy purchase, training of dealership personnel on F&I products, loan disbursement and claim payout process, policy renewal, and dealer business relations. With an increasing number of dealers participating in such initiatives, the study aims to help F&I companies design new products, services, and processes to assist dealers and end-consumers.

Manish Raj Singhania, President of FADA, expressed satisfaction with the annual Dealer Satisfaction Study becoming a benchmark in understanding dealer-OEM relationships. He emphasized the importance of the new study in focusing on key aspects of the relationship between dealers and F&I companies. Similarly, Amar Jatin Sheth, Treasurer & Director DSS F&I at FADA, highlighted the study’s significance in assisting dealers with running their dealerships efficiently.

Rahul Sharma, Director and COO of PremonAsia, emphasized the importance of managing dealer expectations not only with auto OEMs but also with all stakeholders in the auto retail business. The study is expected to improve dealer-F&I company relationships and provide the best products and services to end consumers efficiently and cost-effectively. The idea for this study was conceived last year, and FADA, along with its knowledge partner PremonAsia, started identifying the various requirements and expectations that dealers have from different F&I companies.