Issue 8 2019

66 Acquisition International - Issue 8 2019 Jun19365 Innovation Through Technology PCMI Corporation is one of the leading providers of integrated software solutions for Extended Warranty management and F&I administration. Recently, we caught up with PCMI Corporation’s President & CEO, Mark Nagelvoort who provided us with a detailed glimpse into the innerworkings of the innovative company. ince their inception in 2012, PCMI Corporation has offered a modular package of software solutions for the administration of F&I Products, Service Contracts, and also Extended Warranties. Today, the firm’s SaaS platform, Policy Claim and Reporting Solutions™ (PCRS), supports and automates the full lifecycle of all aftermarket products. Throughout the years, PCMI Corporation has supported their client’s growth by offering innovative technology and software solutions to help their customers automate their processes, expand into new markets, and easily add additional products. In today’s automotive industry, there are more products being offered than ever before, such as service contracts, prepaid maintenance, and GAP policies which is why administrators need evolving technology to keep up with customer demands. Going into further detail, Mark begins by informing us more about the core areas the team at PCMI Corporation specializes in. “Our PCRS platform is scalable and provides a fast, flexible environment for administrators enabling them to quickly launch products. During the early stages of our company, we decided that making our system modular was extremely important so that customers can benefit from using the solution as a whole or implement the modules in phases. Our main modules are the Open Sales Platform, Policy and Claims Administration, Risk Management, and Reinsurance.” “The Open Sales Platform module enables users to price their product correctly, issue policies with electronic signature and present products to consumers. Once the contract is sold, the Policy Administration module supports billing, commissions, cancellations, and different statuses of the policy throughout its lifetime. Then the Claims Administration module is fully automated to track all conversations with customers and payment functions to understand whether benefits should be approved or denied. Using data from the Policy and Claims Modules, the Risk Management module estimates premium earnings across products with revenue recognition. With this streamlined and automated system, users can quickly configure and introduce products competitively to the market. PCRS allows users to launch a new product, sell it, and issue a policy much faster than ever before.” Enabling the firm to provide these award-winning, innovative solutions is the creative, hard-working and dedicated team working at PCMI Corporation. When discussing the internal culture, Mark is keen to highlight the significant role the team plays in the overall success of the firm. “At PCMI Corporation, our staff has extensive experience and knowledge of the industry, which our customers tell us is what sets us apart from our competitors. We have spent years building a highly qualified team that works diligently with our clients, giving them the confidence that we are committed to their technology needs so they can rely on our product and solutions and focus on growing their business.” “In addition to this, we have also seen impressive growth in our offices, having grown from 3 to 100 team members in our Chicago, Europe, and Asia locations in a short amount of time. Being international allows continuous, around the clock innovation on our system and allows us to support our customers growth into new markets.” Looking ahead to what the future holds for the firm, the team hope to continue to deliver an impeccable service to their clients, one which ensures that they surpass their expectations especially following their recent success in Acquisition Intl. Global Excellence Awards 2019 Leaders in Administration Software for F&I Products 2019 – USA. Bringing the interview to a close, Mark signs off by revealing the exciting plans which lie in the pipeline for the firm, touching on PCMI Corporation’s plans to further expand the business and their global presence in the upcoming years. “Moving forward, we plan to grow in terms of adding of additional administrators and insurers to the platform, both domestically and internationally. Which results in increasing our customer base. We already have a large penetration in the US, Canada, and we have even recently launched our software in Brazil. Ultimately, we look forward to adding additional countries in 2020.” Company: PCMI Corporation Web Address: www.pcmicorp.com S