Insurers interested in promoting driver safety by telematics vehicle tracking, and UBI styled programs participated in a conference hosted by SafetyFirst Systems on November 6, 2014 in Morristown, NJ. Driver safety online courses and related topics were also addressed.
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Unfortunately, about 75% of all insured fleets operate without the benefits of telematics vehicle tracking, driver safety online course, hotline stickers or other critical fleet safety mechanisms. Of the fleets with telemtatics vehicle tracking systems, many struggle to find ways to translate mountains of data into urgently actionable follow ups with their affected drivers.
On Thursday, November 6, 2014, SafetyFirst hosted a conference in Morristown, NJ for representatives from fifteen insurers gathered from across the country. The group discussed barriers which prevent many commercial fleets from adopting telematics vehicle tracking, and what could be done to get a system installed in many more fleets to increase fuel efficiency, decrease carbon emissions, increase safety results and decrease the likelihood of injuries due to crashes.
Current estimates suggest that 75% of commercial fleet policyholders do not use telematics vehicle tracking in their safety program efforts, and are unable to monitor driver behaviors that lead to crashes such as driving excessively fast, tailgating and weaving through traffic. A greater adoption rate of this critical safety tool could save lives immediately. Insurers, as trusted advisers, have the ability to properly and professionally influence the adoption of this technology to reduce injury-producing crashes. SafetyFirst, as a supplier-partner to more than 75 insurance providers, offers a best-in-class solution that fits fleets of all types and sizes.
While not discussing any proprietary or sensitive strategies related to insurance carrier operations, the program facilitated discussion around ways to promote SafetyFirst’s telematics vehicle tracking to more commercial fleet operators in a reasonable and affordable fashion.
Comments from the audience included:
…received a clear definition of facts versus typical marketing hype about device capabilities and reporting options. The data set produced by the GO7 is very detailed if not a little overwhelming. With the help of SafetyFirst and Verisk Analytics, the underwriting team has begun to tackle the challenge of how to use the collected data within our organization… – VP Underwriting
A great crowd of expertise represented…provided good food for thought as our organization moves forward on strategy around telematics offerings” – Loss Control Manager
“Outstanding session! Exactly what I was looking for today” – Chief Underwriting Officer
About SafetyFirst — Dedicated to reducing the likelihood of commercial vehicle crashes and the costs associated with them, we provide a complete range of driver safety services to the insurance industry for the benefit of their respective policyholders. Programs include training, hotline reporting, DOT compliance, automated MVR profiling, and more.