ATLANTA and BEAVERTON, Ore., May 7, 2024
/PRNewswire/ -- Cox Automotive, the world's largest automotive
services and technology provider, and Canopy Connect, the leading
insurance verification platform, today announced a new
collaboration to embed insurance verification and servicing
capabilities into Cox Automotive's Ecommerce solution to enhance
the online car buying experience for consumers and dealerships.
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.
Approximately seventy percent of car shoppers engage in some
form of ID verification during their shopping experience, according
to Cox Automotive Ecommerce Platform Analytics (9/1/23-11/30/23). 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.
"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. "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."
"Canopy Connect's technology helps Cox Automotive Ecommerce
realize its vision for an end-to-end online car buying experience,"
said Tolga Tezel, founder and CEO at
Canopy Connect. "We look forward to further integrations with Cox
Automotives' portfolio of products to add insurance verification
and servicing capabilities."
Learn more about how Canopy Connect and Cox Automotive Ecommerce
work together here:
https://www.usecanopy.com/integrations/cox-ecommerce
About Canopy Connect, Inc.
Canopy Connect is the leading insurance data intake platform.
Their insurance data verification API gives businesses the ability
to retrieve verified insurance information directly from carriers
in seconds and deliver it directly into other systems. Through its
consumer consent-driven data sharing technology and secure cloud
infrastructure, the Canopy Connect data intake platform enables
insurance agencies, carriers, lenders, auto dealerships, insurance
innovators and other technology companies to deliver delightful,
intelligent, and frictionless insurance services. Learn more at
https://www.usecanopy.com.
About Cox Automotive
Cox Automotive is the world's largest automotive services and
technology provider. Fueled by the largest breadth of first-party
data fed by 2.3 billion online interactions a year, Cox Automotive
tailors leading solutions for car shoppers, auto manufacturers,
dealers, lenders and fleets. The company has 29,000-plus employees
on five continents and a portfolio of industry-leading brands
that include Autotrader®, Kelley Blue Book®, Manheim®, vAuto®,
Dealertrack®, NextGear Capital™, CentralDispatch®, and FleetNet
America®. Cox Automotive is a subsidiary of Cox Enterprises Inc., a
privately owned, Atlanta-based
company with $22 billion
in annual revenue. Visit coxautoinc.com, or connect via
@CoxAutomotive on X, CoxAutoInc on Facebook, or Cox-Automotive-Inc
on LinkedIn.
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SOURCE RETAIL/COX AUTOMOTIVE