GMAC Targeting 30% Increase to Dealer F&I Revenue

GMAC Insurance Unveils Innovative Solution

GMAC Insurance Unveils Innovative Solution Targeting 30% Increase to Dealer F&I Revenue

GMAC Insurance Group

SOUTHFIELD, Mich., Jan. 3 — GMAC Insurance today introduced the latest additions to its innovative suite of technology-based solutions for automotive dealers. Combined with ongoing training and support, IntelliMenu(SM) and IntelliTracker(SM) provide a state of the art, custom- designed, menu-selling process with the potential to increase dealership F&I revenue by 30 percent on average.

"During the last several years, dealers' profit margins on new vehicle sales have become increasingly slimmer," said Tom Callahan, executive vice president of GMAC Insurance's Dealer Products & Services group. "Our integrated menu-selling process will help dealers remedy that trend. First, it will provide dealers with unprecedented and complete access to all of the tools and training necessary. And second, by enhancing customer awareness of F&I product offerings, we expect the solution will ultimately result in significantly improved penetration and revenue."

GMAC Insurance is providing this service through a partnership with menu- selling technology leader MenuVantage.

"We are proud to be working with GMAC Insurance on this unique, integrated dealer solution," said Phil Battista, co-chief executive officer of MenuVantage LLC. "On average, dealerships with our system have seen a 30 percent increase in F&I revenue. By combining our technology expertise with GMAC Insurance's complete support package, dealers can expect unparalleled service and results."

By capitalizing on MenuVantage's proven platform, IntelliMenu also will provide dealers with an interface approved for ADP's dealer management system (DMS) and certified for Reynolds and Reynolds' DMS. These interfaces allow MenuVantage access to a dealer's DMS using standard data interfaces and help ensure dealer information security, privacy, confidentiality, integrity and supportability.

The company will also supply GMAC Insurance with technology support and development expertise for future upgrades and improvements.

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IntelliMenu and IntelliTracker are big departures from the industry norm. While the majority of competitors traditionally focus solely on products, GMAC Insurance is redesigning its entire portfolio of offerings around dealer- focused solutions - integrating F&I products with on-going dealership training and best-in-class tools to provide a complete, packaged solution.

"Our business model is built around developing products, services and training that address specific issues raised by our dealer-customers. IntelliMenu and IntelliTracker were both born out of our ongoing conversations with dealers," said Callahan.

By integrating with major DMS providers, web-based IntelliMenu provides a seamless sales transaction, giving dealerships an easy, affordable way to structure multiple deals in the F&I office. IntelliMenu further assists dealerships with disclosure needs, allowing dealers to show every customer a complete listing of product offerings, while providing a record of acceptance or decline.

IntelliTracker integrates with IntelliMenu providing dealers and their GMAC Insurance account executives with up-to-the-minute information on F&I sales results. An individually tailored approach to maximizing sales is then jointly developed based on the needs of the dealer, and any necessary training is immediately set-up.

The entire process will be made available to dealers in mid- to late- January. Dealers interested in more information can contact their GMAC Insurance representative. Additionally, reps will be available to demonstrate these new solutions in GMAC Insurance's booth at the National Automotive Dealers Association (NADA) Annual Convention on Feb. 9-12 in San Francisco.

"I encourage every interested dealer to stop by the GMAC Insurance booth," said Callahan. "While there is no silver bullet to address dealer needs, we believe GMAC Insurance can offer real solutions with the depth and breadth of our products and proven F&I capabilities."

About MenuVantage

MenuVantage, based in Orlando, Fla., provides automotive dealers with best in class F&I tools to ensure compliance and increased per unit profit. The MenuVantage system offers F&I departments the most advanced technology available on the market today to increase F&I sales. It is also capable of the electronic submission of warranty and F&I products to providers, real time service contract rating, and the dynamic printing of documents on regular paper. Founded in 2003, MenuVantage has enjoyed tremendous growth and currently services more than 2,500 users at automotive dealerships in over 42 states nationwide, processing more than 70,000 deals per month. MenuVantage can be reached on the web at http://www.menuvantage.com.

About GMAC Insurance

The GMAC Insurance Group is part of GMAC Financial Services, a global, diversified financial services company that operates in approximately 40 countries in automotive finance, real estate finance, insurance and other commercial businesses. GMAC's insurance operations were first established in 1925, and now offer a wide range of products to meet the needs of retail consumers, dealers and business partners. For more information, please visit www.gmacfs.com.

SOURCE GMAC Insurance Group