Comprehensive risk management extends far beyond insurance and affects nearly every aspect of the dealership. At this year’s NADA Show in Dallas, Texas, CBT News anchor Jim Fitzpatrick caught up with Vince Santivasi, Head of Direct Markets for Zurich North America, to discuss operational liabilities, cybersecurity, and compliance at the dealership level.
Key takeaways:
1. After 100 years in the automotive space, Zurich insures manufacturers, factories, dealerships, and transportation. Additionally, Zurich offers F&I services and cybersecurity solutions to protect dealers and help them remain compliant.
2. The majority of Zurich experts that provide training in-store, worked at a dealership themselves at one time or another.
3. With the acceleration of digital retailing, it is crucial for dealers to have processes in place to accommodate new, digital paths to purchase.
4. Zurich and its Government Affairs team, are closely monitoring the proposed changes to FTC Safeguards Rule to prevent overregulation while maintaining transparency with consumers.
5. Zurich aims to help dealers recruit and develop career paths for diverse teams.
“On the road to compliance, there is a lot of money to be made.” — Vince Santivasi
Notable background:
— Zurich was founded in 1922 by a group of Ford dealers who could not get insurance.
Click here for more 2023 NADA Show coverage on CBT News.
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