NAT, Inc., a provider of workflow solutions for insurance companies and third-party administrators (TPA), is introducing at NADA ’04 the NAT eGateway(TM) for automotive aftermarket insurance.

This "first e-commerce hub," as it is described by NAT, connects insurers/TPAs and auto retailers in real time to help F&I managers present and sell service contract, GAP, etch, credit life and other products faster, easier and more profitably through an online process that enables regulatory compliance, according to the company.

An ASP model requiring only a PC and Internet connectivity, the NAT eGateway(TM) was developed by NAT under the leadership of CEO Peter Leger, formerly the CEO of CMSI-Credit Connection before its merger with online financing portal DealerTrack. As president of ADP Dealer Services, Leger pioneered development of one of the industry’s first online car-shopping portals, which later evolved as AutoTrader.com.

"Just as the online financing portal dramatically altered how dealership F&I offices source and present finance options, the NAT eGateway is the first electronic link between automobile dealers and their aftermarket insurance companies," NAT said in a prepared statement.

For dealers, the company said its NAT eGateway improves transaction accuracy by reducing administrative errors, ultimately reducing charge-backs, and reduces presentation preparation from minutes to a few seconds, allowing the F&I manager to spend more time selling and less time generating paperwork. The company said the NAT eGateway also enables regulatory compliance. The NAT eGateway integrates with most major dealer management systems, according to NAT.

For insurance companies, TPAs and their agents, NAT said the NAT eGateway reduces administrative costs by avoiding time-consuming dealer follow up on incomplete and incorrectly rated contracts; increases sales through existing customers because they will be able to sell more aftermarket products; attracts new dealer customers who want to improve their efficiency; and because of two-way DMS integration, empowers agents to better analyze dealers’ aftermarket insurance sales needs, ultimately improving sales and relationships.

According to NAT, the NAT eGateway offers four feature-rich F&I sales and productivity tools:

  • eMenu: A powerful sales menu of aftermarket insurance and other products, producing more accurate rates and deal information, real-time alla cart deal customization, and enables regulatory compliance while reducing labor and time.

  • eRating: NAT’s real-time rating engine producing more accurate vehicle rating results. Automatically uses real-time wholesale rates directly from aftermarket insurers. For those insurers/TPAs that are not yet participating, NAT can enter dealer-provided rates.

  • eContracting: Enables electronic submission of booked aftermarket contracts/applications directly to participating insurance providers /TPAs administration systems.

  • eIntegration: Permits data exchange between the DMS and the NAT eGateway and eliminates multiple data entry and improves data accuracy, including post-back into the DMS for insurance deal finalization.

  • eData Management: Provides the ability to securely extract information from the DMS to help dealers and insurance companies/TPAs make more logical and factual business decisions and more consultative sales presentations.

    Dealers and insurance companies/TPAs attending the National Automobile Dealers Association annual convention in Las Vegas Jan. 31-Feb. 3 can experience a demonstration of the company’s new Automotive Aftermarket Insurance eGateway at booth #4172.

    For more information or the free report, "Why the Digital Hub is Redefining the Aftermarket Insurance Business," contact James Maguire; V.P., Marketing; NAT, Inc. at [email protected] or (847) 384-2200 ext. 3080, or visit www.NATinc.com.

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