BlogInsurance capping on F&I
Quantech Software.com adds “Insurance Capping” to F&I software.
Westbank BC, - Quantech Software.com, F&I and lead management software developers for Auto, RV, Marine and Powersport dealerships announces the addition of insurance capping for Q-F&I and Q-Lite.
Both of Quantech’s core F&I products, Q-F&I and Q-Lite now boost the ability to cap the amount of insurance available on any given unit. 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.
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. “We’ve had requests for this feature from RV and Marine dealers as well as insurance representatives”, according to 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”, says Trevor Smolski, Regional Manager SAL Group, a division of Industrial Alliance Pacific Insurance Company.
Several safeguards to prevent misuse are built-in 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.
QuantechSoftware.com is a privately held company and developer of the powerful dealer management tools, Q-F&I, Q-Menus and Q-GPS, used by hundreds of North American Auto, RV, Marine and Powersport dealers. Founded in 1998, Quantech Software.com Inc. is located in British Columbia, Canada.
For more information on Quantech Software, the Trade Appraiser, Q-GPS or this press release, please contact Mike Martin. at 877-611-0622 OR go to www.quantechsoftware.com