Escrow Service Case

Xinan Insurance Services Help Geely 4S Shop Develop Business

2017-08-12

Customer Profile

Zhejiang Geely holding group is one of the top ten automobile enterprises in China. It was established in Taizhou in 1986. The group has made rapid development by virtue of flexible operation mechanism and continuous independent innovation since its entrance into the field of motor cars in 1997. In 2003, the group’s management headquarter moved to Hangzhou, Zhejiang province. Geely automobile group has established a perfect marketing network in China, with more than 800 4S stores and nearly 1,000 service outlets. It has nearly 350 overseas sales and service outlets. What’s more, it has invested tens of millions yuan to establish a first-class call center in China and providing users with 24-hour service.

Business Challenges

Nowadays, the public who was born in 1980s and 1990s gradually becoming the main force of new car consumption and the new car market has been further expanded, the penetration rate of auto finance has been improved and financial leasing has become an increasingly important vehicle sales channel. It is a great challenge for all financial leasing companies to control the risk exposure and reduce the bad debt rate under the premise of the influx of a large number of less qualified consumers.

How to Reduce the Risk of Vehicle Performance?

When a large number of loan users with poor qualifications entering the new car consumer market, if carried out in accordance with the traditional loan approval threshold access will exclude a large number of users. Therefore, there are problems to improve auto financing permeability and to reduce barriers of entry qualifications without expand exposure and to reduce the risk of owners performance while expand business.

How to Recover Losses When Vehicle was Stolen

If the loan vehicle was stolen or lost contact, how to retrieve a car to recover a loss and how to realize risk transfer through insurance when the car cannot recover?

How to Ensure Rapid Business Implementation?

 Geely’s offline 4S stores are all over the country. By improving the efficiency of loan approval is a crucial complete way to appeal terminal owners. If combined risk relief with loan business, how to implement it quickly while ensuring business compliance?

Solutions

Xinan Insurance Performance Guarantee Service to Reduce Customer Performance Risk

The security and guarantee service of WanWay’s Xinan insurance includes three parts: theft and robbery responsibility, performance responsibility and GPS location service system. For the potential performance risk of less qualified customers, Xinan insurance provides performance guarantee service. Additionally, Xinan insurance compensates the loan balance after the risk occurs, and the compensation amount for each accident is up to two million.

Full Compensation for Car Robbery

If the Vehicle suffered theft or robbery and cannot be found during 60 days’ detect period after installed WanWay Tech’s vehicle positioning terminal system, WanWay will provide 100% value of the vehicle for compensation. Simultaneously, WanWay will compensate the vehicle owner with repair costs when the vehicle was stolen.

The National Regional Service Network Helps Geely Quickly Implement its Business

WanWay tech divides the country into four major regions and respectively set up urban managers and service consultants to connect with Geely in different regions. They help Geely solve the offline installation of GPS hardware in offline stores, and provide 2-3 hours, 3-6 hours and more accurate installation services according to different regions.

Customer Returns

Through the application of Xinan insurance security service, the risk control level has been strengthened. Users with poor qualifications in the past can also be included in the business scope, which can to some extent expand the business scope. At the same time, it bear owner’s responsibility of potential performance risk.

2018-12-19T19:49:34+00:00