Auto insurance firm CDK Global has signed a deal to purchase InsurTech company Salty Dot for an undisclosed fee.
According to Auto Remarketing, the latest acquisition by CDK Global will give dealers an avenue to digitise another piece of the car buying process – lining up car insurance for the consumer.
Salty Dot provides car buyers with a mobile platform to purchase car insurance without having to leave the shopping process.
Through its platform, customers receive a text that includes a link to a form to secure insurance – with the platform using AI to determine the carrier within its network and personalised policy that best suits that specific consumer based on their answer in the form. The Salty platform that sends the policy quote to the consumer digitally.
CDK stated that by acquiring Salty, it not only expands its own digital offerings but also providers deals a new revenue stream with the auto insurance market.
CDK president and CEO Brian Krzanich said, “In a time of significant retail disruption, CDK is focused on helping dealers and manufacturers meet the evolving demand for simple and convenient retail experiences.
“Now that we’ve completely digitized the sales and service processes within the dealership model, we are taking the next step of bringing dealers new capabilities — like Salty’s Embedded Insurance — to help consumers manage the many decisions that come with buying and owning a car. With Salty, we are strategically rethinking the future of auto retail and helping put dealers in command of the entire consumer experience.”
Salty founder and CEO James Hall added, “I am proud of the work the Salty team has done in creating a digital experience that gives consumers a seamless way to buy insurance when its most relevant to them — during the car-buying process. By joining an industry leader like CDK, Salty gains instant access to nearly 15,000 retail locations in automotive and related industries which will accelerate the adoption of our platform and fundamentally change the experience consumers have during and after a vehicle purchase.”
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