No business wants to find out that they’ve been a victim of fraud. While it’s impossible to entirely protect your fleet against all possible fraudulent acts, there are some things you can do to minimize risks. One of the best ways to do so is to implement robust telematics data to track and monitor your fleet. With this technology in your corner, you can clearly see several types of fraud and head them off before they become a problem.
What Is Telematics?
First things first, if you’re not familiar with telematics, you may be wondering what it is. Simply put, telematics gathers data from onboard devices like GPS trackers and dash cameras and then communicates back to the home office or a cloud-based system. In this way, telematics provides fleet managers with valuable data about where vehicles are, how they’re being used, and when they may need maintenance or repairs.
But how can this technology be used to prevent fraud? Read on to find out.
Detect Fuel Card Fraud
Fuel card fraud is shockingly common in many fleets. Whether it’s a fleet driver using his company card to fuel up his personal vehicle or a third party who has gotten hold of one of your gas cards and is using it at will, fuel card fraud can cost big money to fleets if left unchecked.
With a good telematics program, fleets can track exactly how many miles they’re getting per gallon, how often specific drivers fill up, and even whether or not a fleet vehicle was present when fuel was purchased. Armed with this telematics data, fleet managers can easily spot spikes in fuel card usage, then drill down to find the root of the problem.
Prevent Unauthorized Vehicle Use
Unauthorized use of company vehicles costs businesses thousands of dollars each year. It increases insurance liability, adds wear and tear to your vehicles, and uses up fuel that could be reserved for business purposes. But how do you know when employees are using your fleet vehicles for their own purposes?
GPS trackers that send telematics data back to your fleet management software can easily show you when vehicles are being used outside of their designated uses. You can see where each vehicle goes, what time they’re in use, how many miles they drive, and all sorts of other useful data points that make unauthorized use apparent.
Know When Employees Go Off Task
As a fleet manager, you can’t keep your eyes on employees as they go about their tasks. So how do you know when one has decided to take an extra-long lunch? What about the driver who claims to be stuck in traffic but is actually napping at a rest stop?
Telematics data can solve this problem too. When you use a GPS tracking system to dispatch vehicles and provide drivers with the best route to their destination, you can also be notified when they leave that route. So if someone diverts to grab a snack, you’ll know it. You can see exactly where each driver is in real-time, so you’ll know when they’re not when they’re supposed to be.
Avoid Insurance Fraud
It’s no secret that commercial vehicles are often targeted for insurance fraud. Fraudsters assume that a business likely has good insurance protection and can afford to pay out bogus claims. This attitude leads to staged accidents where people intentionally cause a problem, hoping for a big payout on the other side. This may mean suddenly stopping in front of a truck, pulling out of a parking spot or side street in the path of a vehicle, or simply exaggerating the damage and injuries caused by a fleet accident.
How can you protect your fleet from this type of fraudulent behavior? Telematics data of course! Your telematics system can tell you all about your drivers’ behavior when an accident occurs. You can see their speed, if they were braking, and other important points of data that capture the moments surrounding an accident. This data can help you disprove fake injuries or show that the damages being claimed are excessive for the situation at hand.
Add a Dashcam for More Protection
Want even stronger protection against these types of fraud and many more? Invest in a good dash camera system. A dual-facing dashcam gives you the complete picture of what was happening inside the vehicle and on the road at the time of an accident. The footage a dashcam provides can be the difference between a hefty settlement for a fraudster and exonerating your drivers when they’ve been targeted.
Want to learn more about what telematics data, GPS tracking, asset tracking, and dashcam technology can do for your fleet? Contact Azuga today.