Insurance Technology Platform Salty Dot, Inc. acquired by CDK Global

CDK Global, an American multinational corporation specializes in providing integrated data and technology solutions to the automotive and heavy equipment industrial sectors. It is especially recognized for building automotive sales procedures easier with the availability of digital products including loan and payments equipment.

 

(Must Check: Technological Innovation at CDK Global)

 

CDK Global's products aid to an inclusion and integration of clients purchasing procedures and also, marketing and targeted advertising, and how to promote sales, financing and vehicles' maintenance. 

 

The company has made three investments in total including that of Ripcord (Series B-Ripcord),Automatic (Series B-Automatic) and Automatic (Series A-Automatic).

 

Acquisition

 

Apart from acquiring Roadster, Square Root, Progressus and many others, it has stepped onto a definitive agreement to make an acquisition of Salty Dot, Inc. The acquisition was generated about six months ago. At that time, Hall approached CDK Global about the integration which led to a debate about both the companies functioning together.

 

Salty Dot, Inc., the Embedded Insurance Technology Company possesses a platform that comprises a Software-as-a-Service (SaaS) solution. This in turn accentuates the distribution partners to put fundamental policies into action in order to insure a product in real-time at the time of purchase.

 

The company makes use of Artificial Intelligence as well as Machine Learning to provide estimates of distinct data sources between the buyers and the products they're about to purchase.

 

As the president and chief executive officer of CDK Global, Brian Krzanich ensured how the company has laid its eyes upon helping "dealers and manufacturers" to meet the ever-increasing demands for "convenient retail experiences."

 

(Recommended Blog: 6 Applications of AI in Retail Sector)

 

Since the procedure is over now, as he continues, the company would like to move forward towards a significant step like Salty's Embedded Insurance® by bringing fresh, effective capabilities which would provide a great opportunity for customers to make decisions concerning the buying and owning of a car.

 

Salty's technology will help in furthering digital deliverance with respect to the demands of CDK Global. This would enable an acceleration of its total addressable market as well beyond the "digitization of traditional dealer workflows," as BusinessWire reports.

 

Also, this fresh approach would definitely allow the dealers to build a revenue stream and generate consumer relationships on a deeper level and not just limited to vehicle sales.

 

The founder and chief-executive officer of Salty, James Hall expressed his excitement and said that this acquisition would help Salty to gain accession to many automotive industries and others. This would remarkably transform the "experience consumers have during and after a vehicle purchase.”

 

The insurance platform of Salty makes use of its pioneering technology and is highly propelled by Artificial Intelligence which helps the platform to select the carrier and personalized policy and simultaneously, showcase via digital mode within minutes.