In: Blog

LGM REMAINS COMMITTED TO CONSUMER ADVOCACY AND TRANSPARENCY IN THE AUTOMOTIVE WARRANTY MARKET

Date: June 8, 2020

Since LGM Financial Services Inc. (LGM) was founded, we recognized a need for consumer advocacy and transparency in the automotive warranty market. In our commitment to operate and serve our partners and customers with integrity and quality, we are proud to offer innovative and fairly priced products.

Recently, Autorité des Marchés Financiers (AMF), the organization responsible for financial regulation in the Canadian province of Québec, filed a report on the sale of insurance by dealerships. The report shines a very negative light on certain sales practices and was picked up by La Press in PQ. LGM does not support these practices and has worked very hard to help our partners sell in an appropriate and responsible manner.

LGM ACTIONS AND INITIATIVES

In response, we wanted to share the many actions and initiatives we take at LGM to protect our consumers and partners:

– Online product and sales training that support responsible sales practices. This suite of 24+ micro-learning courses have been recognized and used by OEM partners and includes an industry recognized FSO consultative selling certification.

– LGM’s e-contract enabled point-of-sale system (HUB), which helps validate product eligibility and limits margins.

– Product and service adherence to regulatory guidelines around disclosure requirements of dealer margin.

Proprietary technology and digital retailing support that provides dealers and consumers with accurate and real-time pricing tools for greater consumer education and transparency. 


PROUD TO BE RESPONSIBLE

At LGM we are committed to best-in-class, OEM branded protection products that maximize consumer satisfaction and enhance dealer FSO performance and practices.

Our core company values of service excellence, respect, integrity, giving back, and innovation continue to guide us in how we treat and show up for our partners and customers. These values are championed by the heart of our company, our employees, and has served as a foundation for our decisions and actions in our pledge on being “Proud to Be Responsible”.


QUESTIONS?

If you have any questions or concerns, please reach out to your local Dealer Development Manager or contact our teams here. We are committed in working together to bring about a positive consumer automotive experience that is transparent, fair, and sustainable.