Risk management & VR

Question 1

What is a conversion

Answer 1

Loss of control of a rental contract

Question 2

Explain conversion procedure and what can be done to minimise risk

Answer 2

Pend ticket with comment as to what’s happened
Inform Risk

Minimised by renting to right people, full underwriting and GBG

Question 3

Explain collision comp/resvs/LPU/Gross margin and how it’s calculated

Answer 3

A 12 month rolling average of PD losses

Question 4

Fundamentals of underwriting

Answer 4

Employer
GBG
Full address
2 numbers
Email address
Driving licence

Question 5

Why is GBG so important

Answer 5

Stops is renting to risky customers

Question 6

What are uninsured losses and how do we reduce them?

Answer 6

XX’s - all claims off a rental contract

Employee loss PD + Employee loss liability + conv and other + undoc damage

Question 7

Process of arranging a vehicle for disabled customers

Answer 7

Ask their needs
Call and arrange with links 24hours prior to rental
Arrange for customer to collect vehicle
Arrange for links to remover adjustments after rental

Question 8

Vehicle abroad policy?

Answer 8

£100 fee

Get address of where they are going abroad

Question 9

Corrective Vs preventative maintenance?

Answer 9

Corrective is when maintenance that could have been prevented has happened and we need to correct it. I.e. a car broke down because you didn’t lofr it on time

Preventative is being proactive to prevent maintenance happening. I.e. When the car gets close to needing a lofr get it booked in and write “lofr me” in return comments on next rental.

Question 10

Describe loss of use procedure and how to manage it

Answer 10

Money we can recover from a dealership or Bodyshop - a cost we can charge per day to them for not being able to rent the vehicle due to a recall for example.
Manage - correctly tag unit on USG
- put in non rev