Can commercial auto really be profitable?
In a word: Yes.
In today’s market, commercial auto insurers are using extraordinary
measures to retain customers and capture market share. For many
companies, doing so has undermined profitability.
But now there’s a way to grow market share while improving
your margins.
Verisk Telematics offers a comprehensive suite of tools for
commercial auto insurers, including filed and approved rating
programs and an interactive user portal that gives drivers and
fleet managers direct feedback on driving behavior.
• educate fleet operators about their driving behaviors so they
can improve
• quickly identify issues that need immediate attention, such as
problematic driving behaviors and excessive fuel consumption
And that’s good news for you as a commercial auto insurer:
• Your agents can offer risk and fleet managers a differentiated
program to cut operating costs, monitor and educate drivers,
improve driver safety, and reduce a vehicle’s fuel consumption
and carbon footprint.
•Your underwriters can use our analytics and filed scores and
programs to gain exceptional insight into every commercial
risk — and rate each one appropriately.
The result? Driving DNA can help fleet managers cut costs —
and help drivers prevent accidents.
• A recent study revealed that fleets using Driving DNA were
30 to 60 percent less likely to be involved in road accidents.
• Because fuel is a significant cost for commercial fleets, reduc­
ing driving behaviors such as idling and aggressive acceleration
can cut fuel consumption by 10 percent or more.
An interactive risk management portal
for fleet and risk managers
By providing constant feedback on driving behaviors, the
system promotes less aggressive driving habits and helps train
operators to drive more safely and efficiently.
Fleet and risk managers deal with a myriad of challenges, not
the least of which is reducing operating expenses. Fuel costs,
productivity, and driver management are all significant issues
those managers face every day.
Verisk Telematics can help your agents offer risk and
fleet management professionals a differentiated
telematics program.
Driving DNA®, our interactive user portal, allows managers to
view aggregate data on an entire fleet or drill down to review a
particular driver’s behavior.
Managers can use the Driving DNA portal to:
• compare driving behaviors across the fleet
• evaluate fuel efficiency
• view reenactments of particular trips to see when and where
risky behaviors occurred
DID YOU KNOW?
75 percent of fleets don’t have a
telematics program.
Verisk Telematics can help your commercial clients
jump-start their own telematics programs. Our user
portal gives managers unique insight into operator
driving behavior — and a way to help drivers
improve their driving and fuel efficiency.
Here’s just a sample of the information
you’ll see using the Driving DNA portal:
Risk and fleet managers can view aggregate information
about their fleets and see — quickly and easily —
which drivers are riskiest and which are safest. Managers
can drill down for more information on a driver’s trips,
driving behaviors, and fuel efficiency by clicking on the
driver’s name.
A driver’s weekly journal shows all the trips the
driver made that week. Each trip is color-coded as low
risk (green), medium risk (yellow), or high risk (red).
To drill down and view a reenactment of a particular trip,
simply click on the color-coded box.
Our event reenactment function allows managers
and operators to review particular trips and evaluate
risky driving behaviors, such as harsh or extreme braking
and cornering, in the context they occurred.
Operators and managers can also access fuel efficiency
reports that evaluate both driving style and speed.
The system includes tips for drivers on how to increase
fuel efficiency and reduce their carbon footprint.
Exceptional insight about commercial risks
for underwriters and agents
Telematics provides a direct measure of driving behavior —
unlike commercial credit, motor vehicle reports (MVRs), and
driver characteristics. It puts an underwriter “in the driver’s
seat” and offers powerful insight into the way a policyholder
drives.
Verisk Telematics takes traditional telematics one step further
with two filed and approved rules and driver discount
programs.
The result? Your underwriters can rate and price each commer­
cial policy with astonishing precision.
GeoMetric®: Our risk score based on driving location
A garaging address can reveal a lot about the type of risk a
vehicle will encounter because of its operating environment.
But adding a vehicle’s actual driving locations helps you arrive
at a superior loss predictor — one more powerful than garaging
address alone. That’s particularly true for commercial fleets,
where routes can change seasonally, monthly, and even daily.
GeoMetric delivers an individualized risk report for every
vehicle in an insured fleet.
Our corresponding manual rule outlines a procedure for
awarding driver discounts to insured vehicles. Discounts of
between 5 and 25 percent are available for vehicles that travel
mainly in areas less risky than their primary garaging address.
Verisk’s ISO unit has filed both rules widely. They’re approved,
ready to use, and integrate with most territorial rating struc­
tures with little or no modification to existing rating plans. And
by using the programs together, underwriters can offer
unmatched driver discount opportunities.
We’ll get you to the finish line — in no time
Verisk Telematics has the scores, programs, vendor relation­
ships, and analytical expertise to help you bring your program
to market quickly:
• If you’re just getting started and looking for the right
telematics device (aka dongle), we can put you in touch with
leading vendors.
• If you’re already collecting data and wondering if there’s
a better way to use it, our analytics experts can help you
differentiate your offering.
• If you have a telematics program in place, we can enrich your
data and help your analytics team build a better model.
Contact us to find out more
Phone: 1-855-859-8775
E-mail: [email protected]
www.verisk.com/telematics
Safety Scoring®: Our risk score based on driving behavior
Verisk collects telematics data from vehicles and uploads the
data to our proprietary Driving DNA platform. Using sophis­
ticated algorithms, Driving DNA evaluates a wide variety of
telematics and environmental data to identify the unique
signatures that characterize safe levels of driving. Then it
translates that data into a score you can use with our Safety
Scoring manual rule.
© Insurance Services Office, Inc., 2014. Verisk Analytics, the Verisk Analytics logo, Driving DNA, GeoMetric, ISO, and Safety Scoring are registered trademarks and
Verisk is a trademark of Insurance Services Office, Inc. All other product or corporate names are trademarks or registered trademarks of their respective companies.
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Our Safety Scoring manual rule outlines a procedure for
awarding discounts to insured fleets.