Fleet Tracking

Top 3 Reasons Risk Management Is Important To Fleet Businesses

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Fleet risk management is a vital part of a fleet manager’s job. It is crucial across the board for everything from driver safety to saving on insurance costs. If your fleet isn’t focused on risk management, you’re leaving yourself open to problems. Our blog article, Fleet Safety: How to Assess Risk for Fleet Risk Management, describes exactly how to conduct a fleet risk assessment. Below we will explain why it’s so important to do so. 

No. 1: Keep Drivers Safe

Driver safety should be a top priority for any fleet business. Drivers who feel safe at work are more likely to stay with your company and perform better for your business. Since employee turnover costs $15,000 per person, keeping employees on board is a huge benefit. This is why your fleet must have procedures in place to promote a safety culture among your drivers in the fleet. 

You can promote this safety culture by creating procedures and implementing ways to measure them that show your employees’ progress and provide training in areas where they may be struggling. Azuga’s Driver Rewards program and Azuga Coach work together to form a comprehensive system where employees are rewarded for their best efforts and helped to improve where they have trouble. 

No. 2: Manage Vehicle Inspections

Getting fined for failing vehicle inspections is one of the most avoidable costs to your fleet. The Federal Motor Carrier Safety Administration (FMCSA) requires drivers to keep daily vehicle inspection reports (DVIR) on hand for at least 90 days. These inspections must confirm that a vehicle is in good working condition and is functioning safely. 

Luckily, fleet management software allows fleets to track their DVIRs and analyze data with the click of a button. If there are any recurring issues, you can quickly address them before they become a danger to your fleet or cause a breakdown that hinders productivity. Most importantly, this feature keeps you in compliance with federal regulations, so you never have to pay those pesky fines. 

No. 3: Lower Insurance Costs

Insurance companies want to insure safe drivers that pose a low risk to them. Therefore, when fleets implement safety measures, they will often offer insurance discounts. Some of these safety measures include features like: 

  • Alarms for theft protection
  • Dash cams and security cameras
  • eLog systems or other telematics devices that monitor driver behavior
  • Automatically adjusting lights
  • Back up cameras

Whenever you implement these features for your fleet, you show a commitment to safety that makes you less likely to be involved in an accident and file a claim with your insurance company, which means you’re less of a risk to them. These insurance discounts can save you a lot of money, so it’s definitely worth investing in these safety technologies. 

Lower Your Risk With Azuga

Azuga’s fleet management software and safety solutions can help you fill gaps in your risk assessment. We offer state-of-the-art technology that improves your fleet’s productivity, keeps your drivers safe, and saves your business money, all at a reasonable price. Find out what Azuga can do for you by trying out a demo today.