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How Telematics Devices Are Driving Discounts

telematics devices

How Telematics Devices Are Driving Discounts

Ever wonder what happens while your company drivers are on the road? Looking for new ways to monitor and manage the cost of insuring a fleet of commercial vehicles?

If professional drivers keep your business rolling, telematics devices now offer you new, real-time insights into ways to manage and monitor your risk exposures. For businesses that employ multiple drivers and own or lease fleets of vehicles, telematics devices deliver wealth of insights that can potentially reduce your overall coverage costs.

Related Matters: IBC: How To Drive Your Premiums Down With Telematics

Telematics Devices: How They Work

Once installed, these high-tech devices will automatically upload data about the activities of anyone who drives your company’s vehicle(s). With telematics devices in your fleet, you can learn more about your employees’ driving habits and keep track of your vehicles.

8 Things You Can Learn About Your Commercial Vehicles

Telematics devices can provide you and your fleet manager with valuable information and insights such as:

  1. Speed limits – know if your drivers are regularly keeping within speed limits
  2. Time-efficiency – learn which of your drivers consistently take the most time-efficient routes
  3. Habits – understand how frequently your drivers brake, accelerate and speed
  4. Location – know where every fleet vehicle is 24/7/365
  5. Driving score – find out which of your drivers perform more efficiently on the highway, in urban settings, during the daytime and evenings
  6. Personal vs. company use – know when a driver’s day starts and ends and accurately track personal as well as business mileage
  7. Accident notification – know in real-time where and when a crash happens
  8. Vehicle wear and tear – get access to detailed reports that can help you to diagnose problems before they happen

You can install telematics devices across fleets of corporate trucks, cars, trailers, shipping containers and more. Telematics are also being used in satellites, wireless car safety and emergency communications as well as to support smartphone car-sharing applications.

Telematics Devices And Insurance Discounts

Assessing data collected by your telematics devices can help reduce your business insurance costs over the long haul. As this new technology is in the early-adoption stage, you may have questions about how telematics devices can help you reduce the ongoing costs of fleet insurance.

An ALIGNED Advocate can provide more information about telematics devices as well as other tools and resources that you can use to manage and monitor your commercial vehicle risk exposures.

To learn more about telematics devices and fleet insurance, talk to one of our advocates today about how we can help you secure the best products, services and solutions for your business.

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.

Source: Insurance Bureau of Canada

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