Mark Nagelvoort, President & CEO
PCMI Corporation’s expert staff have spent their careers studying and understanding the automotive business including finance and insurance (F&I) administration. Through their administration platform, Policy Claim and Reporting Solutions (PCRS), they provide the fastest and most flexible environment for an administrator to launch new products and support the complete lifecycle of service contracts and ancillary products. As a trusted technology partner for the automotive industry, Mark Nagelvoort, the company’s President and CEO, believes that PCMI’s global presence in the U.S., Europe, and Asia is essential to their continuous around-the-clock innovation, customer support, and speed to market.
PCRS is adaptive to the ever-evolving buyer patterns and dealership demands for quick information access. Since customer buying habits are changing, it is imperative for F&I administrators to launch new products rapidly and streamline product administration.
With the range of unique products being offered today, such as service contracts, prepaid maintenance, interior and exterior protection, GAP policies and all self-administered programs, administrators have realized they need a flexible software, like PCRS, that allows them to quickly adopt such offerings and be ready for what the future holds.
“Legacy systems tend to lack the ability to fully automate administration, which is key to processing more business with fewer staff,” Nagelvoort states. “Our customers typically have a system in place but it is not capable of offering streamlined administration with the dealer network. We built PCRS as a modular solution which gives administrators the ability to react to market fluctuation and help enhance their existing systems to maintain uniqueness.”
The modular approach complemented by a SaaS-based PCRS system allows PCMI’s customers to obtain cost benefits in real-time. Customers also experience a significant increase in sales by being first to the market and having the ability to launch in new markets. The company’s mission is to elevate the role of a technology partner to market leaders that have a specific vision of long-term growth.
The mark of the company’s success came to light in 2013 when Nissan Global Reinsurance, Ltd (NGRe) and PCMI issued a press release announcing their signed agreement. This international agreement allowed PCRS to streamline three key areas: deal management, service department aftermarket product sales, and warranty administration. Nagelvoort attributes this milestone achievement to their industry expertise and understanding of customers’ business requirements. PCMI also supports the enhancement of dealership efficiencies by providing dealers with capabilities such as: sales reporting, complete reinsurance reporting, and the ability to manage all other types of participation programs.
PCMI believes that the industry will continue to expand in the direction of eRetailing, complex menu support, and participation statements. Therefore, they are aligning their development efforts accordingly. PCMI sees a growing focus on accounting, reporting, and automation of claims to provide better information to dealership groups. With a focus on continued automation, PCMI is working on integrating artificial intelligence into their claims engine to enhance adjudication.
In addition to the automotive industry, PCMI also supports the consumer warranty, home warranty, and power sports industries. Their complete lifecycle approach includes the design of products, defining the market, sales management, providing benefits, and risk management. Summarizing the collective efforts of PCMI, Nagelvoort concludes, “We have built a comprehensive system to address the global growth needs of administrators and insurers, including those pursuing untapped markets. We have been growing substantially in that regard and will continue to enhance our offering.”