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Use Telematics to Improve Commercial Auto Policy Accuracy
Verify reported commercial auto usage data to improve policy ratings
Janet writes commercial auto policies. She often feels uneasy about some of the information that she is provided by the agents for these fleets. Often times, the annual mileages reported don’t appear to be typical for a certain type of fleet. She also suspects that the garage locations aren’t always accurate. She once read a study that found that inaccurate mileage readings are reported to insurers by….
50% of all drivers!
Janet then read a few articles about how using telematics in insurance policy writing helps improve the accuracy of fleet usage data.
Telematics data can provide her with…
True annual mileage
Reports provided by telematics solutions such as FieldLogix can provide the true annual mileage for all fleet vehicles. This would eliminate the need to rely on an “honor system” of mileage readings as reported by the clients and agents.
True vehicle use times
FieldLogix provides reports that display the true operating hours for the vehicles. This can help underwriters apply the appropriate risk factor to the vehicles based on their true operating time of day and total hours used.
True garage locations & travel radiuses
Reports provided by FieldLogix display the true garage location for all fleet vehicles. They also provide the operating area for fleet vehicles, which can be used to verify the data provided by the clients.
Identify safety risks
The driver safety scorecard is used to quickly identify the riskiest and safest drivers when it comes to aggressive driving and speeding. This could be used to apply any available discounts to the fleets based on safe driving behaviors. It could also be used to identify uninsurable drivers within the fleet.
Submit your referral today to help your clients improve fleet safety!
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