Arrowhead General Insurance Agency Inc. today announced the successful expansion of its Daily Rental Program for auto manufacturers and dealers, providing an advanced way to manage large fleets of courtesy vehicles.
Auto manufacturers including Mercedes, Subaru and Hyundai insure their courtesy vehicles through the Arrowhead program, with Zurich as the carrier.
“Keeping records on loaner vehicles and managing accident claims is a huge investment of time and money, especially when an inefficient system is difficult to learn and requires manual intervention,” says Adam Weber, president, Rental and Loaner Insurance Programs, Arrowhead. “The dealers weren’t using the existing system, so there was a lack of compliance with DOI requirements for proof of insurance, plus the manufacturer didn’t know what was going on with claims because data input was inconsistent.”
Working with Mercedes and Zurich, Arrowhead built an online portal where dealers can easily track vehicle insurance and registration and download real-time reports. Manufacturers have an enterprise view of all loaners at every dealer and can quickly demonstrate compliance with DMVs and state insurance departments.
With 116 dealers on the system, Mercedes went from sometimes waiting 30 days to report registration fees to having new vehicles populate the system within 24 hours, says Ryan Whitney, vice president and head of Programs and Rental Sales, Zurich Alternative Markets.
At Subaru, all 600-plus participating retailers were on the new platform within 90 days of launch, compared with about one-third that were using a previous system.
“About 20,000 vehicles flow through our system in a month,” says Matia R. Marks, insurance manager, Subaru of America Inc. “Using outdated systems to keep track of that many vehicles is unthinkable, so we appreciate the certainty, ease of use and speed delivered by the Arrowhead system.”
Arrowhead’s Weber explains: “Dealers have so many systems, so the trick is to remove friction from the process. We continue to learn and that keeps us adjusting to fit their needs. The next need may be telematics or electronic insurance cards.”
“This is another example of Arrowhead’s commitment to continually innovate,” says COO Tom Kussurelis. “Arrowhead doesn’t invent the technology. Instead, we’re constantly looking for innovative offerings from insurtech, bringing them into the fold to increase efficiency, reduce expenses, better serve our producers, and bring profit to our partners.”
About Arrowhead General Insurance Agency Inc.
Headquartered in San Diego, Arrowhead General Insurance Agency Inc. is one of the largest national insurance program managers for commercial and personal products in the U.S., with $1.3 billion written premium in 2019. Arrowhead’s relationships with over 20 top-ranked insurance carriers provide stability for its nationwide network of producers. Arrowhead is a subsidiary of Brown & Brown Inc. (NYSE: BRO), ranked by Business Insurance magazine as one of the 10 largest global independent insurance intermediaries.