Telematics is redefining and remodeling the way commercial fleets are managed. Telematics technologies collect and transmit data on vehicle use, driving pattern and routes. Through effective monitoring of the entire system, it is now possible to gain an insight into the risk models and safety initiatives and calculate insurance rates better. This benefits both the fleet operator as well as the insurance provider.
Telematics System for a Better Fleet
Telematics systems offers a viable solution to better manage commercial truck insurance rates. Through the implementation of modern technologies like GPS, OBD, etc., it is now possible to monitor the driving behavior, the routes traversed and the health of the truck. These factors enable the insurance provider to evaluate the insurance risk, re-calculate the insurance rates better and reward a safe driver for good driving habits.
Video Telematics plays an important role in monitoring real time driver behaviour, and protecting the drivers against incidents. The video footage along with incident insights are uploaded to the dashboard, which allows fleet managers to ascertain the exact cause of an incident by providing crucial data to understand.
Factors such as these enable the insurance provider to evaluate the insurance risk, re-calculate the insurance rates better and reward a safe driver for good driving habits.
What benefits can you reap?
The telematic system tracks driver’s trips and assigns scores. Through a telematics device, information like kilometers driven, routes taken, time of the trip, driver behavior such as sudden acceleration, hard braking, cornering, speeding etc can be monitored. All these are categorized as ‘Driver Safety Scores’. This score enables the insurance provider to assess the risk a particular truck poses and arrive at the insurance rate for it accordingly. Vehicles with drivers having a good driving score can avail insurance at a lower premium. In some cases, fleet owners can save up to 40 percent if their fleet and driver safety scores are at a good mark, ensuring reduced cost.
Better safety is achieved through constant monitoring & feedback. Telematics systems work at reducing potential risks. The insurance money saved can be distributed as reward to the drivers, which helps in motivating them to drive better.
With a safer & happier work environment, the productivity of the system is greatly improved.
What Tangerine can do for you
Tangerine’s Next-Gen Commercial Truck Insurance with Video Telematics provides specific coverage and risk management options to businesses operating fleets of all sizes at a reduced insurance premium. By integrating Tangerine’s video based insurance telematics solutions into your fleets, we not only protect your trucks and drivers but also reduce costs, increase efficiency, improve your overall operations, and provide the coverage you need at the best rate.
Tangerine’s niche expertise provides the products you need and the service you deserve to get back on the road faster. We understand your needs and share your concerns, we have the program that fits your requirements so your drivers can drive with confidence
- Lower Insurance Premiums
- Reduce Accident Related Costs
- Improve Safety Scores
- Reduce Unplanned Maintenance
- Protect Drivers Against Frauds and Complaints
- Improved Operational Efficiency