Wise F&I

NOTICE 049: Updates to the Wise F&I Risk Review Process

As the industry continues to evolve, we recognize the importance of adapting while maintaining consistent and profitable partnerships with our agent and dealership channels. With that in mind, we are introducing updates to our Risk Review Process to improve communication, follow-up, and ensure long-term dealer performance.

Our team is committed to working closely with you to implement necessary changes that drive positive results, while considering all contributing factors. As we all know, there can be various reasons behind dealership performance challenges, and our hope is that by streamlining communication, solutions can be tailored to your specific needs.

What’s Changing:
We are introducing a more comprehensive communication approach that includes agent/dealer partnership strategy meetings. These meetings prioritize growth across all Wise F&I products while maintaining a profitable partnership. The sessions will be supported by new quarterly performance reports to ensure we are working together toward shared success. The ultimate goal is to help build profitable partnership plans with you, our agent partner and our mutual dealers.

In addition, we will continue our internal quarterly reviews, but the process will now include clearer steps in communication with you along the way. We will also build from the ongoing agent meetings to make sure that communication is at the core of this experience. The following steps will occur as we discover that a dealership or group has become profit challenged:

• 1st Communication: A dealership will be flagged when they experience excessive loss. The flagged status will prompt our Client Services Team to provide a summary to the agent. We encourage you to reach out with questions and/or for more details.

• 2nd Communication: If, after the first communication, the dealership remains underperforming in the next quarter, the agent will receive another notice along with a proposed action plan. Your Regional Vice President or Client Services contact will reach out to discuss next steps and timing. The objective of this communication is to discuss implementation challenges and/or ideas for future success, while creating an appropriate plan of action to remedy the identified issues.

• 3rd Communication: If a dealership continues to underperform, we will engage further with the agent to discuss additional options and determine an action plan and directive for the affected dealership. If a dealership has been provided with recommended action items, we will review the items together to determine if they are working, or if other action items may be needed. If the provided corrective action has not been taken and the dealership is flagged for a third consecutive quarter, we will determine whether any action items will change the course of the dealership’s performance. A final notice may be issued outlining the required actions to resolve the issue.

Our goal is to work closely with you to develop and implement the best strategies to ensure aligned and successful performance levels. We also understand that dealership management is a combination of art and science, which sometimes doesn’t always provide immediate results. We want to build a positive working relationship with you, our agent partners, based on strong communication to find the best path forward.

Stay tuned for more updates from your Regional Vice President and Client Services Team!
As always, we appreciate your partnership and all you do for Wise F&I!

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Notice: 049