Fixed Ops Magazine - 2023 Vol20 01 - 63
availability of people and equipment, the " process of
processing " can take too long - sometimes weeks.
THE PEOPLE
Someone with warranty knowledge in their head has
to process/manage the paperwork and keep it moving.
Typically, this is done by multiple staff members who,
over the years, have picked up claims processing. If
these specific employees don't show up for work, your
claims won't get processed. Since humans are handling
the paperwork manually and physically entering the
data, it makes the process more prone to errors.
Additionally, the warranty processing department is
not immune to the staffing shortage. Recently a Cox
Automotive study found that 72% of dealers can't find
qualified personnel to hire. Also, the cost of labor has
risen dramatically over the last few years, and this year
will rise even more. Finally, the younger generations are
not filling the vacancies created by the current crop of
warranty processors as they leave the workforce. The
result is that many dealers are one big recall away from
being buried in a stack of claims.
THE STATS
From 2010 to 2019, recalls increased 324% compared
to the previous decade according to NHTSA. WarrCloud
projects there will be a 27% growth in warranties
over the next 5 years. A major variable in warranty
processing will be the impact of EV's and eventually
AV's. Below are some interesting statistics based on
market research:
* It takes an average of 11 minutes to process one
warranty claim
* Most dealerships have about 1.6 full time employees
focused solely on processing warranties
* Industry wide, dealers spend an average of $1.6B
annually processing warranties
* The majority of dealers believe claims submission
is a fixed expense as opposed to a variable, and only
1 in 4 dealerships surveyed actually track time and
costs related to the claims process.
(*source: FARM Market Research)
JANUARY FEBRUARY 2023 || FIXED OPS MAGAZINE
63
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Fixed Ops Magazine - 2023 Vol20 01
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