Cox Automotive is teaming up with a leading insurance verification platform to make purchasing a car online easier.
Cox Automotive Ecommerce and Canopy Connect announced on May 7 a new collaboration to embed insurance verification and servicing capabilities into Cox Automotive’s Ecommerce.
The collaboration comes as approximately 70 percent of car shoppers engage in some form of ID verification during their shopping experience, according to Cox Automotive Ecommerce Platform Analytics.
Platform Integrations
Integrating Canopy Connect’s insurance verification and servicing technology builds on Cox’s vision to transform the auto retail transaction, making it more convenient for consumers to verify their insurance and reducing risk of fraud for automotive dealers.
Cox Automotive Ecommerce provides a fully automated and online consumer car buying experience. Through state-of-the-art automation and AI capabilities, the collaboration will improve upon the traditional deal process while delivering increased efficiency and fraud prevention measures that benefit both car shopper and dealership. according to officials from both companies.
Improving Online Transactions
“We set out to build an end-to-end online car buying platform and knew that insurance verification was a key part of the F&I process that was missing,” said Paulo da Silva, VP of Operations for Ecommerce at Cox Automotive, in a press statement. “We worked with Canopy Connect’s technology and team to bridge that step so our dealer partners can create a trusted and comfortable environment for online transactions with their consumers.”
Tolga Tezel, founder and CEO at Canopy Connect, offered that he sees his company’s technology helping Cox Automotive Ecommerce realize its vision for an end-to-end online car buying experience and hope this is just a beginning of the two companies working together.
“We look forward to further integrations with Cox Automotives’ portfolio of products to add insurance verification and servicing capabilities,” said Tezel.
