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How an Automotive Leader Reduced Finance Risk and Streamlined Operations with Data-Driven Solutions
Our client has been a leading importer and distributor of renowned automotive brands for over 30 years. The company provides a comprehensive suite of services, including distribution of new vehicles, used cars, spare parts, car rentals, leasing, and insurance, establishing itself as a one-stop solution for all vehicle requirements.
Goals and challenges
Car leasing is an important operation within the company due to the following reasons:
- Multiple lease cycles result in increased monetisation for a vehicle.
- Leasing is an effective method to retain a customer.
Approximately half the car units were sold through leasing. Among these leased cars, ~ 63% were with Finance Risk (FR) insurance. Therefore, the company was aiming to:
- Reduce the percentage of units sold “with Finance Risk (FR)” insurance.
- Implement a cost-effective solution to replace time consuming manual analysis for Financial Risk insurance decisions.
- Pave the way to merging Financial and Lease Case Analyses for effective decision-making.
To meet abovementioned business objectives, SCSK {digital} implemented an AI-Powered Credit Scoring System that determines the necessity of Finance Risk Insurance for leases.
Download our case study to see how our client achieved the results below:
- Reduced Finance Risk (FR) Insurance amount to be from 63% to 50% *.
- Efficient time management: Manual spreadsheet analysis are replaced by AI/Automated Data Pipeline.
- Informed decision-making with more precise assessment outcomes.
- Standardization and alignment of business processes throughout FL and OL.
- Stronger negotiations with banks to secure lower loan costs, and with insurance companies to lower insurance expenses.
- Improved Accuracy through AI-Driven Credit Scoring with user feedback integration.
*Expected benefit value
