New risk management approach for motor fleets

The web-based service provides fleet risk managers with a support and advice function. As part of the service, Brit Insurance is introducing Brit Fleet Insight which can warn fleet operators of driving incidents as they happen.

Commenting on the launch, Ray Cox, UK underwriting director at Brit Insurance, said: “Standing out from the crowd has been an important part of the reason for our growth in the UK. Standing out is about client service; and in this case it’s about offering innovative and practical risk management to the markets in which we are active. Brit Risk Management fits that description well and will be part of our future growth.”

Brit Fleet Insight, a key component of the service, uses small ‘black box’ units, fitted to each vehicle in the fleet. These combine the functions of speed, direction, location and mileages with a unique real-time collision monitoring feature. G-force sensors automatically text or email the fleet manager if the unit registers a force of more than 1G, enabling them to respond to an incident. Brit Insurance said it is the only UK insurance company offering this facility.

The information generated through the telematics unit verifies the time and location of accidents. Data on the size and nature of the impact can help assess the validity of a whiplash claim and prove which vehicle made the initial impact.

Brit said a combination of telematics technology and driver awareness training has been shown to result in more fuel efficient driving behaviour and in turn lower carbon emissions. Government figures estimate that users of telematics systems see average fuel savings of 5% on the heaviest vehicles and up to 15% on lighter vehicles. A SAFED Pilot Study also showed that drivers who take training courses that include fuel efficiency typically see fuel savings of 10%. For an average 7.5 Tonne vehicle, this could equate to savings of around £1,000 a year per vehicle.

Brit Risk Management estimates that the average direct repair cost of an accident is £750, with the hidden costs being up to four times that amount. Changes in driver behaviour brought about by driver training and installing telematics can reduce the frequency and severity of accidents significantly.

The online fleet management database provides an audit trail, showing what checks have been made, and what training has been carried out.