CHESTERFIELD, Mo. — F&I and reinsurance provider Protective Asset Protection announced the launch of Dealer Training Institute, an online curriculum program that offers training for a selection of today’s most popular F&I products to help dealers increase profit potential and customer satisfaction levels.
Executives noted that, aside from the shear opportunity to sell more because they know more, ongoing training is critical for F&I personnel to remain focused and engaged at the dealership. According to the 2019 Dealership Staffing Study produced by Cox Automotive, approximately one-third of management employees do not feel excited or engaged in their jobs, including F&I personnel.
Read: Cox: Younger Workers Could Reduce Dealership Turnover
The curriculum focuses on product knowledge and professional skills. Each course is designed to maximize content retention with engaging videos, study guides and quizzes. Users may participate in the online courses at their own pace, at home or in the dealership, and many of the courses available are divided into short lessons. A certificate is received once each lesson is completed sufficiently, all according to the announcement.
“Better training is a clear investment in people, and when dealerships make this commitment, the results are tangible.”
F&I training has made a notable impact to the bottom line at franchise dealerships. The 2018 NADA Annual Report shows a nearly 6% increase of income as a percentage of new- and used-vehicle department gross profit over from 2016 through 2018, noted Protective Vice President Bill Koster.
Read: NADA: F&I Income, Penetration Rates Remain Strong
“Better training is a clear investment in people, and when dealerships make this commitment, the results are tangible, with a positive impact to the dealership’s bottom line and customer satisfaction,” Koster said. “The Protective Training Institute provides dealers and their F&I management personnel with a clear and distinct competitive advantage designed to positively impact each customer’s buying experience.”
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