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MQI > Cost Control > Flashcards

Cost Control Flashcards

1
Q

Describe how to complete a thorough vehicle inspection

A

25 point check
Clean safe and fuelled (CSF)
Tyre tread, wax on wax off

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2
Q

Underwriting for insurance customer

A

Deposit depending on dates and rates
2 numbers, license, email
Insurance policy number
Insurance excess
Bodyshop confirmation
Proof of ownershp

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3
Q

What is the undoc damage goal?

A

£3 a car

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4
Q

What are the 4 types of uninsured losses and how can you reduce each one

A
  • Employee physical damage - chase in small cars, communicate safe driving
  • Employee loss liability - FNOL - saves £4600 on average
  • Conversion and other (acts of god) - incorrect underwriting on a conversion ticket is XX
    Undocumented damage - boot to boot training, claim quality
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5
Q

How to raise a claim

A
  • 3 picture of damage - etool with damage, damage and numberplate
  • sigs from customer
  • coi - dru to chase
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6
Q

What are the consequences of not collecting excess

A
  • increased physical damage reserves
  • increases branch losses which increases cost per car
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7
Q

Give examples of contract violations and how they affect PUA

A

Driving car with no license - AX if on rent
Additional driver not on rental agreement - AX if on rent and increases DR liability

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8
Q

What are the steps of suspected conversion takes place

A
  • contact customer
  • do a drive by
  • send conversion text and alert risk
  • report to police
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9
Q

What is physical damage reserves and how do you calculate it

A

Hits to our damage waiver on a 12 month rolling average + 10% buffer

Total damage cost minus excess collected

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10
Q

What is DR liability

A
  • cost of insuring ourselves against third party claims with an expense of £5 million or below.
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11
Q

How much is paid by the branch incase of a employee loss liability claim

A

First £1600

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12
Q

How can we reduce physical damage reserves

A
  • collect right excess
  • claim quality
  • right car right deal
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13
Q

What is the goal for uninsured losses

A

£7 a car

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14
Q

How are AX and CX expensed

A

XX - hits Branch same month
AX- 12 month

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15
Q

What is the complete car pledge

A
  • pledge that every car is cleaned and sanitised so it gives customers assurance
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16
Q

Where can you find AX AND XX on pua

A

AX - physical damage reserves and other losses
XX - uninsured losses

17
Q

2 ways to remove Holds on a vehicle

A
  • unit services
  • fleet condition app on launchpad
18
Q

What is the 4 point plan

A
  • fleet health
  • boot t boot
  • delivery and collection process of damaged car
  • remove bd hold if damage repaired
19
Q

What costs go under maintenance

A
  • LOFR
  • Changing of material of seats
  • any service
  • Ad blue
20
Q

Gives examples of 3 holds

A
  • BD HOLD
    EMISSION
    LOFR
    MOT
    DELETE
    CONVERSION
21
Q

What is fleet health on the launchpad ?

A
  • section that shows what % of vehicles are vans, cars, how many have holds.
22
Q

How can you find out activated deletes

A
  • using fleet health on LP
  • USG / Unit services
23
Q

How can you minimise maintenance cost

A
  • don’t delay services - problems may get worse
24
Q

How to arrange scheduled maintenance and how to document completion

A
  • alert on LP
  • tag up on USG
  • tag up the return of the vehicle to be shopped
  • remove hold once complete
25
Q

What is subrogated bad debt and what is the goal

A

Money that we can claim back from third party
- £4 a car

26
Q

What is the total uninsured loss goal per goal

A
  • £7 a car
27
Q

When is collision comps / physical damage reserves hit to the branch

A

1 month

28
Q

3 reasons why a coi wouldn’t pay for damage

A
  • no signatures
  • no picture of location
  • pre-existing damage
29
Q

Who sits for new damage and existing damage for vehicles coming from OOG

A

Existing -
- they sit if damage marked
- if cust has pics of damage raise an XX against branch

New damage -
On rent damage we sit and raise AX

OOG MOT LOFR WE SIT

30
Q

How to know if customers ROI

A

States in dates and dates
Would be exclusive as not on DW

31
Q

What is other losses

A

Snapshot of the hits to our DW within a given month

MQI (5 decks)

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