Telematics and Insurance
It's the law to insure your vehicles. However, a fleet that lacks telematics will only increase the risk of accidents and raise the costs of your insurance premiums. Azuga improves driving behaviors, the severity of accidents, and reduces frequency by over 50% on average. Use a reliable telematics software like Azuga to ensure the best auto insurance options.
What is a Fleet Insurance Policy
Fleet insurance covers an entire fleet of vehicles. The vehicles can be registered under a company enabling one policy to cover your whole business. Commercial fleet insurance removes the hassle of having to keep track of each vehicle. You only need to set one renewal date. This insurance policy is much cheaper than purchasing one for each vehicle. Fleet auto insurance also gives the ability to enable anyone with your permission to drive your vehicles.
7 Reasons to Choose Azuga Insurance Options for Your Fleet
1. Reduce Risk of Accidents
In the past, the only way to lower risks and costs was to hire well and train well in the past. With Fleet telematics, you'll see which drivers are impacting your risk management. Today, Azuga can monitor driving behavior in the most comprehensive measure. From there, fleet managers can train, encourage, and reprimand drivers by incentivizing them for better performance. Azuga provides historical data, and real-time tracking to help with more informed training and hiring decisions. Putting safe driving habits at the forefront helps to lower the risk of your drivers, and fleet.
2. Speed Up Insurance Claims
Insurance companies require evidence to complete insurance claims. Azuga offers loss control and analytics support. In the case of a stolen vehicle, Azuga can track the vehicle since the GPS device is attached in the car. You'll receive after-incident assistance, and crucial evidence that is shown through the dashcam. If there is a lawsuit, you could save thousands of dollars for your company. This evidence is also vital to help you speed up insurance claims.
3. Better Driving Behavior
You get more than just savings when you opt for Azuga insurance options. Azuga offers driver training and feedback on driving behavior. This helps to improve driving and lower your insurance premiums. Using Azuga telematics allows fleet managers a view of drivers behavior. Fleet managers can offer specific training geared towards the needs of each individual. This tracking helps to hold drivers accountable and make them conscious about their driving habits.
4. Fleet Insurance Companies Reward Improved Safety Scores
Typically, auto insurance companies would quote a vehicle policy using basic data such as location, driver history, radius of operation, industry classification, vehicle class, bankruptcy, and claims history. However, these factors don't tell the full story, and don't reveal the real risk of a company's fleet. Learning how drivers perform while behind the wheel is a much more precise way to assess a fleet's real risk than standard metrics. Azuga offers a cloud-based software, with on-board diagnostic port-plug-ins to help insurance companies view driver's behavioral patterns that take into account magnitude, duration, frequency of speeding, acceleration, and breaking. Additionally, it also takes into account external factors like time and weather conditions. Personalized driving score models help to grade each fleet driver and compare them with other drivers. If drivers have a history of speeding, they are at higher risk of being in an accident even though they have never been in one before. In this scenario, the driver would have a lower driver's score due to their behaviors. Only a telematics software program like Azuga can track these behaviors. Drivers with lower scores help you to land lower or flat pricing for commercial auto insurance.
5. Low-Cost Telematics Insurance Options
In 2020, 70% of auto insurance carriers will use telematics usage-based insurance. Some fleet owners are still worried about the initial investment that is required for telematics. Insurance companies can offer bundled fleet management solutions to make it easier for commercial auto customers to operate more competitively with less risk. Commercial auto-insurers are now rewriting their underwriting practices with usage-based insurance policies designed to be cost-effective. These are backed by Azuga, which offers personalized driving scoring models, and driving programs to reduce high-risk driving behaviors. Insurance agencies can better comprehend the true risk involved with their fleet customers. From there, they create a personalized policy based on your risk level to help drivers become safer. Usage-based insurance is calculated dynamically by reading the vehicle's odometer, using mileages tracked by GPS data, and other data like speed, time of day, historic riskiness, driving actions, distance, and time traveled. Having a usage-based insurance track the way drivers operate in a vehicle leads to lower policy premiums and quotes.
6. Uses Scoring Models to Access Risks
Azuga generates a proprietary driver score based on driving behaviors such as speeding, braking, cornering, and acceleration. This scoring algorithm also factors in vehicle type, weather, time of day, duration, event magnitude, and frequency. The risk level weighs the factors that it poses. Additionally, Azuga also has an insurance score to take into account total accident risk from external factors like traffic congestion and unfamiliar roads. From there, fleet managers can assign zip codes for drivers based on real-time traffic conditions, weather, and historic accident rates. These scoring models help determine an accurate picture of an individual driver's likelihood of getting into an accident. The scores can be compared with the other drivers or the group average to understand better whether a driver is over or underperforming regarding safety standards.
7. Boosts Customer Retention
Incorporating Azuga Fleet to your insurance plans helps you reduce risk and provides a reliable solution for your customers to count on every day. This builds trust and gives them more reason to work with you over the long term. Your customers will receive real-time tracking of their assets and instant insight, such as ETA. You also get unlimited support where their customer service team takes exceptional care of you. They are available to chat via phone or online to answer any questions about your fleet.
Azuga is the go-to option for Telematics that leads to safer driving, reduced costs, and lower insurance premiums. With their pool of data, you'll be able to score your drivers, giving you an accurate depiction that can be demonstrated to auto insurance companies. Check out Azuga insurance telematics to improve driving behavior, and get the insurance.