CDK Global, a US-based automotive retail technology company, has signed a definitive agreement to acquire insurtech Salty Dot for an undisclosed sum.
Salty Dot’s insurance platform leverages artificial intelligence to offer bespoke insurance solutions through its carrier network.
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CDK Global aims to expand its portfolio of digital offerings through the acquisition and create a new revenue stream from the US auto insurance market.
The US insurtech’s platform is a proprietary software-as-a-service (SaaS) solution that integrates with the dealer management system (DMS).
During the car purchase process, the buyer receives a text message with a link to a form.
Based on inputs from customers, Salty Dot’s platform offers an insurance solution.
CDK Global president and CEO Brian Krzanich said: “Now that we have completely digitised the sales and service processes within the dealership model, we are taking the next step of bringing dealers new capabilities—like Salty’s Embedded Insurance—to help consumers manage the many decisions that come with buying and owning a car.”
Salty Dot founder and CEO James Hall said: “By joining an industry leader like CDK, Salty gains instant access to nearly 15,000 retail locations in automotive and related industries, which will accelerate the adoption of our platform and fundamentally change the experience consumers have during and after a vehicle purchase.”
Notably, Salty Dot is licensed to operate in all 50 states and available to all dealers nationwide.
In other auto insurance news, Swiss Re teamed up with Claims Genius on an AI-powered damage assessment and motor claims estimation platform.
