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Risk in Context Podcast: Using data to improve fleet safety and insurance outcomes

Marsh leaders discuss the daily challenges faced by fleet owners and explore how technology-derived data can be leveraged to better manage risks.

Owners of large fleets are confronted with a multitude of risks that can have far-reaching consequences for their drivers, other motorists, pedestrians, and their business. Aside from the threat to safety, collisions and other incidents could lead to increased repair, replacement, and insurance costs that could impact an organization’s finances.

But advanced technology, particularly telematics, can provide fleet owners with a wealth of data that allows them to identify specific challenges and proactively address risks, potentially reducing the number of incidents and lowering associated costs. Making the necessary data-based safety improvements can also help fleet operators lower insurance costs.

In this episode of Risk in Context, Paul Woodward, Head of Casualty at Bowring Marsh in the UK, speaks with Rich Bleser, Fleet Specialty Practice Leader within Marsh’s Advisory Practice, and Alasdair MacKechnie, Casualty Underwriter at Inigo Insurance Syndicate in London. They discuss the daily challenges faced by fleet owners and explore how technology-derived data can be leveraged to better manage risks.

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Key takeaways

Data-based insights allow for more targeted risk mitigation actions

Driver- and vehicle-specific information derived from cameras and other telematic technologies can help fleet owners identify at-risk behaviors and take targeted actions to mitigate risks.

Modifying at-risk driver behaviors can help improve fleet safety

Data-capturing technologies, such as cameras, can flag problematic behaviors and allow fleet owners to provide driver-specific coaching that reduces risks and leads to lasting changes.

Sophisticated monitoring systems can support loss reduction goals

The ability to monitor driver behaviors and identify and address at-risk conduct can help organizations lower both the frequency and severity of collisions and other incidents.

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