2021 ALL STAR | FINANCE AND INSURANCE
J.D. Power announced one large finance and insurance industry acquisition and two major partnerships in the span of three months this year.
In July, it paid an undisclosed amount for Superior Integrated Solutions Inc., whose Darwin Automotive F&I menu software makes an appearance in about a third of new-vehicle sales. The same month, it announced a partnership to develop F&I products with JM&A Group, one of the largest product providers in the country. In September, J.D. Power said its website would display inventory from dealerships affiliated with CUDirect's CUDL, the No. 1 credit union financing program, under an arrangement estimated to yield 30,000 to 40,000 leads for dealerships.
J.D. Power in July called the timing of the two summer deals coincidental, and CEO Dave Habiger, 52, this month called the company's sudden F&I presence part of a 15- to 20-year journey, not a shift.
J.D. Power had always provided technology to that space, and its goal was to address customer needs as they arose, Habiger said.
"It's less about the sector, or segment or a name," he said.
He said J.D. Power's future F&I work would include attention to electric vehicles and involve topics such as residual value and incentives.