GAP Award Winner - 2012

The Car Dealer Power Awards 2012 saw AutoProtect recognised as the winner of the award for the supply of Gap insurance. The award voted for by Car Dealer readers recognised AutoProtect’s innovative and ethical approach in developing an all-new Gap insurance policy that ensures dealers are able to comply with ABI Best Practice and protect Gap as a key profit centre all at the same time, and easily too.

The ceremony, which took place on July 18^th, saw AutoProtect’s Michael McVeigh picking up the award from Mike Brewer, presenter of TV’s Wheeler Dealer, in front of senior business leaders from across the automotive supply chain.

Underwriting Director Prakash Chandarana, who was responsible for the development and implementation of the new Gap product into AutoProtect’s portfolio, commented:

“Treating the customer fairly is critical in today’s operating environment, but in developing our new Gap product we also wanted to ensure that dealers were treated fairly too. For us, this meant establishing a methodology that allows customers to gain a refund of premium if they end their Gap insurance ahead of the cover period, and protected the dealer’s commission, earned by presenting Gap fairly. This recognition by our dealer customers tells us, as does our overall growth, that we have got things very right”.

The awards, which took place in Portsmouth, recognised best in class performance from across the automotive retail supply chain. In fact, dealers nominated two hundred companies for an award. It was heavy competition that ensured the AutoProtect team was very excited by the win.

Dealer and manufacturer reaction to the new approach to Gap, championed by AutoProtect and supported by the business’ insurers has been very positive.  As a result, the business has welcomed a host of new clients and has seen existing clients embracing the new product and increasing sales. Ethically and commercially the product has struck a real chord. Indeed, not only have dealers moved to the company’s Gap product portfolio, but impressed by the business’ innovative and customer focused approach, many have also switched to AutoProtect’s other warranty and Smart products.

“It’s always nice to gain recognition, that this has come from our customers and in such a competitive area, make this particularly special. Not that we are sitting back on our laurels, with the next stage of new product development, already in hand”. Concluded Prakash Chandarana.