Business

Sentry Insurance launches proprietary risk tool

The risk management tool will aim to help businesses measure less obvious and unforeseen risks

Sentry Insurance has launched Sentry risk factor, a proprietary risk management tool. 

By gathering information through conversations with dealers, the tool helps “evaluate, identify, and measure a dealership’s potential risks that could lead to a large loss, and potentially, temporary business closure”.

Sentry risk factor “generates a report that details the results and proposes steps to help a dealership mitigate risk”.

Based on a conversation with a Sentry representative, they identify risks across five different categories: safety culture, auto risk, building and inventory risks, service practices, and premises observations. 

Based on information gathered during an initial conversation, Sentry representatives will use Sentry risk factor to assign a dealership one of three rankings—best in class, average, or red flag. 

John Hyland, president of direct writer at Sentry Insurance, said: “We know how hard dealerships work to build their business and reputation, and we want to do our part by actively helping them reduce their risks.

“With Sentry risk factor we can help a business measure risks, including the ones that are less obvious and often unforeseen, to help prevent devastating loss at a dealership.”

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