Asbury Automotive Group Enhances Clicklane With Salty’s Embedded Insurance®

Rhea-AI Summary

Asbury Automotive Group (NYSE: ABG) announced an enhancement to their Clicklane platform, enabling a complete online car-buying and selling experience. The partnership with Salty introduces bindable insurance quotes directly through Clicklane, enhancing customer convenience. CEO David Hult emphasized that Asbury customers spend nearly $350 million on insurance annually. This development signals a strategic move to broaden Asbury's market reach beyond traditional automotive sales, leveraging technology and AI for a seamless customer experience.

Positive

• Expansion of Clicklane enhances customer experience and market reach.
• Partnership with Salty allows for seamless insurance quotes during car purchase.

Negative

• None.

Asbury Automotive Group, Inc. (NYSE: ABG) (“Asbury” or the “Company”), one of the largest automotive retail and service companies in the U.S., announced today a significant new enhancement to Clicklane – a technology ecosystem which enables a complete online car-buying and selling experience.

Clicklane announces partnership with Salty. (Graphic: Business Wire)

Asbury has partnered with Salty to expand the capabilities of Clicklane, further enhancing the customer experience. Customers can now receive a bindable insurance quote through Salty’s top-rated carrier network without leaving the Clicklane car-buying journey. Partnering with Salty expands the market for Asbury beyond the traditional auto purchase. Customers can now secure the insurance they need for their vehicle through a seamless experience driven by artificial intelligence and machine learning.

"The partnership with Salty further proves our dedication to a complete digital experience while continuing to drive our omnichannel strategy," said CEO & President David Hult. "Asbury customers spend almost $350 million on insurance every year, and they deserve a state-of-the-art customer experience that includes the option to protect their vehicle purchases.”

“Salty is excited to launch this digital-first partnership with Asbury on their Clicklane transactional software,” said Toby Coleridge, Chief Product Officer at Salty. “Technology and analytics are at the core of what drives a great modern customer experience, and we look forward to a successful partnership with Clicklane while serving car shoppers nationwide.”

More information is available at https://clicklane.com/insurance

About Asbury Automotive Group, Inc.

Asbury Automotive Group, Inc. ("Asbury"), a Fortune 500 company headquartered in Duluth, GA, is one of the largest automotive retailers in the U.S. Asbury currently operates 91 dealerships, consisting of 112 franchises, representing 31 domestic and foreign brands of vehicles. Asbury also operates 25 collision repair centers. Asbury offers customers an extensive range of automotive products and services, including new and used vehicle sales and related financing and insurance, vehicle maintenance and repair services, replacement parts, and service contracts.

About Salty

Salty Dot Inc. is the Embedded Insurance® technology company. Salty removes existing consumer impediments to buying the right policy and having the proper coverage. The company's platform is a proprietary Software-as-a-Service (SaaS) solution that enables carriers and distribution partners to offer a customized policy to insure a product or service in real-time during the purchase process. Salty uses artificial intelligence and machine learning to analyze unique data sources about the buyer and the purchase. It then sorts through multiple carriers to seamlessly offer the right insurance. The company is licensed to operate in all 50 states through Salty Dot Insurance Agency, LLC and its affiliates.

Follow Salty on social media:
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Asbury Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements other than historical fact, and may include statements relating to goals, plans, market conditions and projections regarding Asbury's financial position, liquidity, results of operations, market position and dealership portfolio, initiatives, including those relating to Clicklane and future business strategy. These statements are based on management's current expectations and beliefs and involve significant risks and uncertainties that may cause results to differ materially from those set forth in the statements. These risks and uncertainties include, among other things, market factors, Asbury's relationships with, and the financial and operational stability of, vehicle manufacturers and other suppliers, acts of God or other incidents and the shortage of semi-conductor chips and rubber-based products, which may adversely impact supply from vehicle manufacturers and/or present retail sales challenges, risks associated with Asbury's indebtedness (including available borrowing capacity, compliance with its financial covenants and ability to refinance or repay such indebtedness, on favorable terms), Asbury's relationships with, and the financial stability of, its lenders and lessors, risks related to competition in the automotive retail and service industries, general economic conditions both nationally and locally, governmental regulations, legislation, adverse results in litigation and other proceedings, and Asbury's ability to execute its IT initiatives and other operational strategies, Asbury's ability to leverage gains from its dealership portfolio, Asbury's ability to capitalize on opportunities to repurchase its debt and equity securities or purchase properties that it currently leases, and Asbury's ability to stay within its targeted range for capital expenditures. There can be no guarantees that Asbury's plans for future operations will be successfully implemented or that they will prove to be commercially successful.

These and other risk factors that could cause actual results to differ materially from those expressed or implied in our forward-looking statements are and will be discussed in Asbury's filings with the U.S. Securities and Exchange Commission from time to time, including its most recent annual report on Form 10-K and any subsequently filed quarterly reports on Form 10-Q. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210708005240/en/

FAQ

What recent enhancement did Asbury Automotive Group announce for Clicklane?

Asbury Automotive announced an enhancement to Clicklane, allowing for bindable insurance quotes through a partnership with Salty.

How much do Asbury customers spend on insurance annually?

Asbury customers spend nearly $350 million on insurance every year.

What is the significance of Asbury's partnership with Salty?

The partnership with Salty expands Asbury's market capabilities and improves the car-buying experience through integrated insurance options.

What technology underpins the new Clicklane features?

The new features in Clicklane are driven by artificial intelligence and machine learning.