WESTBANK, BRITISH COLUMBIA -- Quantech Software Inc., a developer of F&I and lead management software for auto, RV, marine and powersport dealerships announced the addition of insurance capping for its core F&I products, Q-F&I and Q-Lite.
Both products can cap the amount of insurance available on any given unit. The new capping feature gives business managers flexibility at the deal level to present different options to the customer without worry of over-insuring their purchase.
Primarily for higher priced purchases like RV’s and marine, the feature caps the four main insurance types including Credit Life, Critical Illness, Accident & Health, and Loss of Employment. As expected, Credit Life and Critical Illness insurances are capped to a maximum insurable amount, while Accident & Health and Loss of Employment insurance is capped based on the payment.
"We've had requests for this feature from RV and Marine dealers as well as insurance representatives," said Jack Pyck, president of Quantech Software.
"Insurance capping is a necessity. This feature will alleviate much of the administration in dealing with over-insurance issues for both our dealers and ourselves," said Trevor Smolski, regional manager of SAL Group, a division of Industrial Alliance Pacific Insurance Company.
Several safeguards to prevent misuse are built-in to the program, including a bright red well-placed message on the deal screen saying the 'Insurance coverage is capped,' as well as special fields that must be used to enter capping amounts. The capping feature is included in all versions of Q-F&I and Q-Lite software. Customers with previous versions of V6 may contact Quantech for a free upgrade.
Founded in 1998, Quantech Software Inc. is a developer of the dealer management tools, Q-GPS, Q-F&I and Q-Menus, used by North American auto, RV, marine and powersport dealers.