Protective Introduces Online Dealer Training Platform
Protective Asset Protection’s Dealer Training Institute was designed to help F&I personnel better understand product offerings to maximize sales, profits, and CSI.
A new online training platform developed by Protective Asset Protection focuses on product knowledge and professional skills.
Photo courtesy Protective Asset Protection
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.
“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.”
More Auto Finance
Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
Read More →
Porsche Financial Services Shifts Structure
After 36 years with Porsche, the Financial Services Chief Financial Officer Konrad Riedl is retiring, and the department is realigning its management structure.
Read More →
Tariffs Could Raise Insurance Premiums
As U.S. import tariffs affect repair costs, consumers might find it more affordable to replace a damaged vehicle, according to recent Insurify tariff analysis.
Read More →
Smaller Loans, Longer Terms
The youngest generation of car buyers is more likely to finance less expensive vehicles, more than half of generation Z consumers borrowing less than $25,000.
Read More →
New Cars a Tad More Affordable
May averages show that combined circumstances gave auto consumers slightly better buying power for the month, though average prices were up year-over-year.
Read More →
First-Quarter Sees Long Auto Loan Growth
Experian data show more consumers are tapping the method, along with refinancings, to afford buying. Meanwhile, subprime borrowers are getting more access.
Read More →
Mastering Credit Friction
In this video, Josh Krach explains how to turn credit friction into an advantage.
Read More →
April Less Affordable
Based on prices, reduced incentives and slower household income growth, consumers found it more challenging to buy new last month, Cox Automotive reported.
Read More →
Auto Lenders, Consumers on a Tightrope
April borrowing data shows that more consumers are bending over backward to buy vehicles, though subprime lending cooled off for the month.
Read More →
Toyota Financial Services President Replaced
Scott Cooke has served in various roles with Toyota Financial Services for over 20 years, including president and CEO, which he retires from on June 30.
Read More →