Fleet Insurance Management 101
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Managing a fleet effectively and minimizing fleet insurance costs is increasingly becoming a complex and important part of modern business. There are a range of strategies available to help improve fleet insurance management which ultimately keep costs down and can help with government compliance & regulations. Below are a few practical fleet insurance management suggestions that your organization may want to consider or implement.
Fleet Insurance Management Tips
Speed & Driving Behaviour Management
Many fleet vehicles spend time driving on highways with a 100 km/h speed limit. Increasingly organizations keen on fleet insurance management are installing a device in their entire fleet of vehicles that gives them access to driver and vehicle data including top and average speeds, braking intensity, turn speeds etc. Collecting the data and developing a management program around it that engages drivers and rewards them for positive driving behaviour is an excellent fleet insurance management strategy to help reduce the frequency and severity of claims which also often reduces fuel consumption too!
Fleet Vehicle Tracking
Vehicle theft is a concern of any fleet manager and/or business owner because in addition to considerable cost it also often results in a temporary drop in productivity. However, by installing GPS enabled devices organizations can improve their fleet insurance management by increasing the likelihood of vehicle recovery in the event of a theft thereby protecting their insurance loss ratio. Installation of GPS enabled devices also has the added benefit of being able to track all vehicles’ location in real-time and improve their route planning.
If you are interested in learning more about fleet insurance management strategies and/or telematics solutions contact an ALIGNED Insurance Advocate today!
|ALIGNED Across Canada 100% Canadian owned, ALIGNED is a premiere insurance brokerage that serves more than 1,400 clients across the country. ALIGNED’s offices in Toronto, Calgary and Vancouver are supported by a national operations centre in Cambridge, Ontario. Uniquely within the industry, ALIGNED creates, negotiates and delivers the best business insurance and risk management strategies/solutions to organizations like yours.