• Navigating Risk Management in the Automotive Industry with Tom Kline

  • Nov 19 2024
  • Length: 36 mins
  • Podcast

Navigating Risk Management in the Automotive Industry with Tom Kline

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  • Summary

  • Innovation comes in many areas and compliance professionals need to not only be ready for it but embrace it. Join Tom Fox, the Voice of Compliance as he visits with top innovative minds, thinkers and creators in the award-winning Innovation in Compliance podcast. In this episode, host Tom Fox is joined by Tom Klein, a seasoned automobile industry expert and risk management authority. The two Toms delve into specific risks unique to car dealerships and how to effectively manage both customer and employee relations to avoid regulatory problems. Kline shares his extensive experience derived from almost 35 years in the industry, detailing strategies like proactive online reputation management and creative contractual clauses designed to preempt legal issues from customer disputes. They also discuss the complexities of insurance policies in the automotive sector and the importance of understanding coverage as a risk mitigation tool. Kline introduces 'Tuck the Octopus,' a metaphor for handling the multifaceted challenges faced by dealerships and emphasizes the importance of customer service in fostering long-term loyalty. Key Highlights · Key Risks in Automobile Dealerships · Managing Customer and Employee Complaints · Upstream Risk Management · Tuck the Octopus: A Creative Solution · Service Aspect of Dealerships Resources Tom Kline on LinkedIn Better Vantage Point Tuck the Octopus Tom Fox Instagram Facebook YouTube Twitter LinkedIn
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