Sentry Insurance has announced the launch of Sentry Risk Factor, a proprietary risk management tool. Sentry Risk Factor gathers information through conversations with automotive dealers to help evaluate, identify and measure a dealership’s potential risks.
“We know how hard dealerships work to build their business and reputation, and we want to do our part by actively helping them reduce their risks,” said John Hyland, president of direct writer at Sentry Insurance. “With Sentry Risk Factor, we can help a business measure risks, including the ones that are less obvious and often unforeseen, to help prevent devastating loss at a dealership.”
The first step in the process is for dealers to have an in-depth conversation with a sentry representative about current operations and safety culture at a dealership. This allows the representative to identify risks in five categories: safety culture, auto risk, building and inventory risks, service practices, and premises observations.
Based on the information gathered during the initial conversation, Sentry representatives use Sentry Risk Factor to assign a dealership one of three rankings: best in class, average, or red flag. Based on the rankings, the tool generates a report that details the results and recommends steps to help a dealership mitigate risks.
Sentry risk factor is available for current and prospective Sentry Insurance customers.
Sentry provides commercial insurance programs to more than 3,000 dealerships throughout the country. It is endorsed by John Deere and Harley-Davidson as the preferred commercial insurance provider for their dealerships.