Dick Malcom, fleet administrator for State Farm Mutual Automobile Insurance Co., retired from the Bloomington, Ill.-based company on May 1.
Malcom joined State Farm in 2001 as the fleet administrator, a position he held until his retirement. One of Malcom’s top accomplishments was winning the 2013 Fleet Manager of the Year Award presented by Automotive Fleet magazine and co-sponsored by Wheels Inc. and the Automotive Fleet & Leasing Association (AFLA).
The State Farm fleet’s business model underwent significant transformation during Malcom’s tenure. When he was named fleet administrator in 2001, the fleet possessed more than 21,000 vehicles. As the business model evolved, so did the fleet. “At the time of my retirement, we reduced the fleet to fewer than 9,000 vehicles of which 45% were specialized claims vans making our claims drivers some of the most efficient in the insurance industry. Having the ability to ‘drive’ their office from claim to claim provided State Farm with a substantial competitive advantage,” said Malcom.
Another of Malcom’s accomplishments, through combined efforts with State Farm Bank, was to create the State Farm Bank Visa Fleet Card (fuel, maintenance, tolls, license fees, and accident repair), which reduced internal costs and provided internal income. He also introduced a rental option to the pool car fleet, which eliminated underutilized vehicles and lowered internal expenses.
As fleet administrator for State Farm Insurance, Malcom oversaw policies and procedures relating to the purchase, lease, sale, and operation of the company’s fleet of cars and trucks.
He also monitored and managed vehicle expenses, including fuel, maintenance, and depreciation; researches vehicles, choosing safe, reliable, cost-efficient, and comfortable vehicles appropriate for various business needs; and leads and/or coordinates project work. Malcom cited as one of his notable achievements was increasing oversight and accountability of the fleet.
Malcom was a long-time AFLA member and former member of the AFLA Board of Directors, along with being a member of the General Motors Commercial Sounding Board.
Malcom credits his father and uncle as huge influences in his life. “I lost my father when he was 57. He was a ‘tell-it-like-it-is’ person, and I had a great deal of respect for him,” he said. “My uncle, a Ford dealer, also taught me an incredible amount about our business.”
Malcom joined his uncle’s Ford dealership in 1975 and worked there for the next eight years. “In 1983 I decided to expand my horizons and I moved to a small local insurance company in Bloomington by the name of Country Companies,” said Malcom. “Country Companies contained both a fleet and a leasing division, which helped further my education in both areas.” Later in 2001, he joined State Farm Insurance.
In retirement, Malcom plans to spend time on hobbies, including golf and cars.
“My love of autos started in high school and went right into college. I was smitten by polar opposites. I had British cars (MGA, Triumph TR4, Austin Healy 3000, Triumph TR6, Sunbeam Tiger) interspersed with a large variety of Ford Mustangs,” said Malcom.