J.D. Power, a global data analytics and consumer intelligence firm based in Troy, announced it has acquired the finance and insurance (F&I) menu and reporting software business of automotive software company Tail Light. Terms of the transaction were not disclosed.
Tail Light’s F&I menu and reporting software is used by automotive dealerships and insurance providers to streamline vehicle financing and service contract configuration and reporting. The acquisition follows the 2021 purchase of Superior Integrated Solutions, Inc./Darwin Automotive and further strengthens the J.D. Power F&I software analytics offerings for auto dealers and third-party partners.
“The pace of digital transformation in auto dealerships has been staggering, and the F&I department has been leading that charge with growing demand for digital menu solutions that clearly and consistently display financing details and special offers to consumers whether they are in the showroom or buying online,” says Phil Battista, president of dealership technologies at J.D. Power.
“Similarly, demand has grown for analytics and reporting solutions that allow dealers to optimize their F&I offerings. By augmenting our rapidly growing suite of dealer-focused F&I solutions with Tail Light’s F&I technology and resources, we are solidifying our role as an end-to-end data analytics and software solutions provider to all facets of the automobile industry.”
Tail Light’s F&I menu and reporting software business includes the Tail Light Showcase solution, which supports both showroom and digital sales with highly personalized, customer-focused tools to select vehicle financing and protection options. It also includes industry-leading analytics and reporting software that allows dealerships to analyze their own F&I performance versus industry benchmarks to adjust and optimize their consumer offerings.
“Today’s F&I department is fundamentally different from even a few years ago,” says Matt Twyman, CEO of Tail Light. “Dealerships have become sophisticated, data-driven enterprises that rely on real-time analytics, competitive benchmarking, and powerful software to deliver the optimal customer experience while maximizing profitability. We have been committed to driving the technology transformation with the industry’s best software and analytics.”
The Tail Light F&I technology will be integrated into the J.D. Power dealership technologies division, which was formed following the July 2021 acquisition of Superior Integrated Solutions, Inc./Darwin Automotive.