ARTICLE · 11 NOVEMBER 2024
Fleet Operators: How You Can Make Data Work Smarter And Streamline Your Insurance Programme
Fleet digitisation offers opportunities to leverage data for risk reduction, efficiency, and cost savings. By using telematics for predictive analytics, operators can optimize routes, improve safety, and lower insurance costs through usage-based policies. However, robust cyber protections are essential to secure data and manage third-party risks, ensuring resilient, efficient operations.
As fleet operators collect higher volumes of information, how
can you make sure you're getting the most from your data while
mitigating the cyber risks that fleet digitisation introduces?
As a fleet operator, you're likely collecting increasing
amounts of data, primarily from telematic devices monitoring
everything from vehicle performance and maintenance requirements to
driver behaviour. But is your ability to use greater volumes of
data smartly — to support safety, reduce risks and boost cost
efficiency, to name some of the potential benefits — keeping
pace?
Fleet operators using their data smartly are enhancing their
operational risk management with data-driven insight, for example,
by modelling claims data to help identify driver behaviours that
can lead to losses. At an organisational level, they're using
fleet data to inform strategic and operational decisions that
reduce systematic risk, positively impacting the expected cost of
capital.
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