Fleet risk management - tech and driver behaviour technology

Mar 22

Improving the risk profile of your client’s motor fleet to reduce losses is the number one way to keep insurance premiums affordable, and limit business disruption.


Most importantly though, it is the best way to reduce accidents, and save lives. That’s why risk management practices should be a primary concern for all brokers working with risk managers, fleet operators or chief executives managing a fleet of vehicles.

Hiring only fully trained and qualified drivers, and requesting proof of regular vehicle safety checks, is first and foremost what all firms should be doing.

But due to the significance of fleet risk management, several technological innovations have evolved over the last few years, which brokers should be advising their clients to invest in.

Vehicle camera systems are one newer innovation that fleet managers must be aware of, and investing in.

Advancements in camera technology allows fleet managers to record and track the driving habits of each individual driver in far greater detail through the power of AI.

By installing cameras pointed at the driver and the road, the system can identify and build a deeply detailed profile of a driver, and their driving habits.

Some camera systems are so advanced that they can tell when a driver is getting drowsy or distracted, and alert them to this, potentially avoiding a nasty accident.

Through machine learning these cameras can paint an entire picture over time of an individual driver’s behaviour. Managers and drivers can watch the videos back and spot where harsh driving or near miss events occurred. Using this data, they can see where improvements can be made to their driving.

Not only has research proved that these systems consistently improve driver behaviour over time, but they have also even been found to reduce speeding events by 80% per 100 miles and generate a combined fleet fuel saving of 21%.

Of course there will always be accidents from time to time. However, by installing these advanced cameras, your client can at least clearly demonstrate to the insurer utilising video evidence that the driver was not at fault.

Most of all though, just showing they’re willing to stay at the cutting edge of fleet safely advancements proves to an insurer they are serious about road safety.

One insurer we work closely with has presented us with evidence that for those clients to have adopted this kind of advanced telematics system, they have seen a reduction in claims frequency of over 10%, and an annual cost per vehicle saving of up to 54%.

In addition, they found that for the fleet firm itself, there was a 14% improvement in delivery performance, a 5% saving in total vehicle and employee spend, and greater customer satisfaction.

If you’re a fleet broker and not sure which cameras are best to recommend to your client, we are always at the other end of a phone line and happy to help.

For all brokers with clients that can show they are serious about road safety and improving driver behaviour, we would love to work with you to place your motor fleet risk into the London market.

We have a wide array of strong relationships with specialist carriers able to write fleet policies in the market, and experienced wholesale brokers that know how to secure comprehensive policies on great terms.

Among the fleet risks our insurers particularly like to see currently include haulage, waste & recycling, liquid & hazardous, own goods – all trades considered, self-drive hire, credit hire, taxi – public & private hire, and chauffeur.

We partner with leading insurers that embrace technological methods of mitigating losses, such as those described above, and also work with them on implementing risk managed long term agreements that have proven results in improving risk performance.

Talk to our experienced motor fleet team to learn more.

Kevin Dawes

Senior Partner - Risk Solutions

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