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Insuring Value Added Automotive Components (3HR)

Broken-Windshields

3 Credits (MN, WI) | 25 Seats | FREE CLASS

The primary course objective is to provide the agents an overview on the proliferation of value-added automotive components and their impact on insurance policies, premiums and claims. This course provides an in-depth look at the growing influence of value-added components, both for comfort and safety, and the motives that led to their development. The implementation of safety technology has resulted in less total loss claims yet an increase in claim frequency and severity. Our course examines this impact in hopes that agents will be in position to better inform their insured during a claim. It is estimated that 74% of individuals place their first notice of loss directly with their agent. Most of these new safety features are labeled Advanced Driver Assistance Systems (ADAS) and manufacturers predominantly mount accompanying cameras to the windshield. The replacement of a windshield now requires a recalibration of these cameras adding complexity to the auto glass replacement. Due to this required service, insurance agents must be aware of this potential impact to their loss ratio target, especially given the importance of claim satisfaction to customer retention.

November 29 @ 9:00 am - 12:00 pm

Venue

Enterprise Rent-A-Car
2775 Blue Water Road
Eagan, 55121 United States
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