This story was originally written and published by Auto Fin Journal.
Tuesday, Jan. 17, 2023 -- Perhaps reflecting what Polly discovered about car insurance availability at dealerships, EchoPark made a move in that space on Tuesday.
The Sonic Automotive division focused on retailing used vehicles announced a long-term partnership with Matic, a leading digital insurtech platform, to provide property and casualty insurance products to EchoPark guests.
Under the partnership, Matic’s innovative insurance marketplace of more than 40 A-rated carriers will be integrated into EchoPark’s online vehicle buying experience, providing a frictionless way for buyers to shop for and purchase auto insurance.
The two companies said through a news release that they have a joint foundation of saving consumers money to provide category-leading value. EchoPark saves shoppers up to $3,000 on the purchase price of quality used vehicles, while Matic saves EchoPark guests up to $579 per year on auto insurance.
“The partnership with Matic is a perfect fit for EchoPark,” said David Smith, chairman and chief executive officer of Sonic Automotive and EchoPark Automotive. “Their commitment to innovating new technologies that simplify a complex industry to the benefit of the consumer mirrors what we’ve accomplished with our new eCommerce platform.
“Matic’s capabilities allow us to find new ways to deliver on our brand promise of Every Car, Happy Owner and we will integrate the auto insurance purchase process into key car-buying moments to offer EchoPark guests even greater overall value,” Smith continued.
Matic CEO and co-founder Ben Madick added, “Matic was built as a digital-first solution that is integrated into the customer buying experience right when insurance is needed.
“We are thrilled to partner with EchoPark and their innovative eCommerce platform to further enhance the car buying experience,” Madick went on to say.