Polly (formerly known as DealerPolicy), an insurance marketplace for automotive retail, announced a strategic partnership with Assurant, Inc., (NYSE: AIZ) a global provider of lifestyle and housing solutions that support, protect and connect major consumer purchases, including automobiles. Through this partnership, Polly's cost-saving personal insurance platform will help Assurant provide best-in-class digital tools to its automotive dealers.
The Polly platform (formerly known as the DealerPolicy platform) is the latest addition to Assurant's suite of digital retailing tools tailored to optimize car buying journeys for consumers while effectively incorporating the sale of finance and insurance (F&I) products. The partnership will be focused on driving greater revenue, per vehicle retail (PVR) and F&I product penetration for Assurant and its dealer partners.
"We're thrilled to be joining Assurant on their mission to help dealers create strong omnichannel capabilities that will meet their customers wherever they are in their car buying process," said Wayne Pastore, President and COO of Polly. "Polly is in the business of uncomplicating automotive insurance. Bringing our platform to Assurant's suite of solutions will create more seamless digital experiences that add real tangible value for dealers and customers alike."
"We were drawn to Polly due to their sophistication in automotive insurance, first-class technology and strong presence at the point-of-sale," said Martin Jenns, President of Assurant Global Automotive. "As the leading F&I provider in the industry, we're focused on providing our dealers with innovative, proven solutions that enable their transition into digital retailing. The simple concept of utilizing automotive insurance as a potential tool for ancillary revenue, increased PVR, and product penetration will be a meaningful opportunity for our dealer partners."
Polly's innovative digital insurance marketplace brings together automotive insurance and car buying, providing a more holistic end-to-end car shopping experience for consumers while also converting customer buying power into profits for dealers. On average, Polly Insurance customers who report savings, save $64 per month on their automotive insurance. These savings empower customers to reinvest in additional F&I products offered by dealerships. Dealers in Polly's network report an average back-end gross increase of 44 percent. Partnering with Assurant will allow Polly to further incorporate personal insurance into the car buying process at over 3,000 dealers nationwide.
