Schaumberg, Ill.-based Zurich North America is offering its fleet insurance clients Zurich Fleet Intelligence, a unit that combines telematics data, risk engineering and analytics to help fleet managers manage operating costs.
"Zurich Fleet Intelligence is unique because it allows fleet managers to understand the behaviors of their drivers, while also giving them access to a Zurich risk engineering specialist who can work with them to help improve their drivers' performance, in turn helping them reduce their fleets' operating costs and run a safer fleet," Paul Horgan, chief underwriting officer for Zurich Global Corporate in North America, says in a statement.
Telematics vendors that have partnered with Zurich Fleet Intelligence include DriveCam, GreenRoad, IVOX, SmartDrive and Trimble. When fleet managers select one of these telematics systems, Zurich interprets the data to help clients find ways to optimize vehicle journey planning and deployment, reduce vehicle running costs, increase fuel economy, reduce accidents and reduce driver stress and fatigue.
"Zurich's findings as well as findings from a recent study conducted by the Federal Motor Carrier Safety Administration show significant safety benefits and a reduction in a variety of at-risk driver behaviors when fleets use in-vehicle monitoring devices," Jim Breitkreitz, head of corporate client risk engineering services in North America for Zurich Services Corporation.
Using this initiative can also help reduce fleet insurance premiums, Zurich says.
"By utilizing Zurich Fleet Intelligence, we'll recognize our customers' commitment to improving the risk profile of their fleet and view them as a better risk today than they were yesterday," Horgan explains. "We then respond by setting a price that will help achieve the right balance between covering the costs of the risks and having the ability to deliver when it matters."
Nathan Golia is senior editor of Insurance & Technology. He joined the publication in 2010 as associate editor and covers all aspects of the nexus between insurance and information technology, including mobility, distribution, core systems, customer interaction, and risk ... View Full Bio