2015 ICTA Nomination. Technology by Quindell Solutions.
Fleetadvisor is a web-based fleet management solution sold by brokers that assists fleet managers in managing risk. The formulation of the solution, which combines technology, professional services and training resources, was completed in 2014, implemented with several clients, and is planned for a larger rollout in 2015.
In June 2014, IBRI began working with a brokerage specializing in high risk fleets to develop a Canadian Commercial Telematics solution focused on the taxi and limo business lines. By September IBRI secured the commitment of a Taxi Association and its members for a system test that covers 10 Taxi fleets to carry out a live pilot for 160 vehicles. The Taxi Association has roughly 700 (seven hundred) vehicles in total.
At this time IBRI branded the solution as fleetadvisor™.
Launched at the Annual IBAO Conference in October 2014, the solution uses in-vehicle devices that record and reveal rich, real-time data; a fleet presentation portal, equipped with a customizable user dashboard that demonstrates and displays the information to fleet managers; comprehensive reporting that presents data of fleet activity and the results of diagnostic and analytical tools and insurance scoring capabilities to use in fleet underwriting.
In January 2015, Fleetadvisor is available in the Ontario Marketplace as a risk management tool available through the broker channel.
Essential features can be summarized as follows:
- The onboard device, which plugs into the vehicles OBDII port, collects continuous information pertaining to vehicle braking, acceleration, and speed.
- Telematics platform – captures, stores and analyses the data, turning it into relevant information to help fleet managers and others assess the risk of defined activities.
- Driver behavior management, to help fleet managers make their drivers safer. Includes features such as geo-fencing, to track vehicle location and alert fleet management if deviations from geographic boundaries arise.
At the time of submission, the solution is deployed in 11 fleets. In anticipation of a January launch, we are anticipating of growing by several new fleets activated each month. At this pace over 50 fleets will be activated in 2015.
Several key solution features have captured the interest of fleet managers. These include:
- The system tracks who is driving the vehicle, and where they are driving. Many taxi fleets, particularly in larger urban areas operate the vehicles 7 by 24. Drivers substitute in and out over a shift change. Tracking who is behind-the-wheel and where they are driving is proving valuable. This feature alone justifies the costs.
- Tracking accidents. The in-car device tracks collisions. Once the fleet manager knows who is driving, where they are driving, they can also track when collisions occur, which before the solution was deployed were often unreported and not properly handled.
- Improving driver safety. Taxi and limo fleets have high rates of collisions. Implementing fleetadvisor enables the fleet management to identify poor drivers and implement steps to correct their driving, or replace them as drivers. Activating fleetadvisor has already produced benefits as drivers realize they need to improve safety.
- Insurance driver scores. Taxi and limo fleets experience extremely high insurance rates. Fleet advisor produces a driver and fleet score that can be used to improve driver performance, and ultimately lower insurance premiums. While it is early days, one insurer refused to underwrite a fleet until they implemented fleetadvisor.
Additional features are providing value:
- Geo-fencing provides geographic boundaries for each vehicle. One fleet, which provides taxi services near the US/Canada border, requires drivers to not enter the US as part of their risk management process. Fleetadvisor ensures this is the case, and provides alerts if vehicles leave the geographic boundaries. This is important to all limo and taxi fleets who generally face restrictions on passenger pick-up in neighbouring municipalities.
- Operational efficiencies are generated, as fleet managers are better able to locate and track the fleet.
- Vehicle maintenance is better managed as the solution connects directly to the vehicles OBDII port, and relays vehicle diagnostic codes.
Benefits
The business impacts are impressive, with the 10 fleet test-market yielding strong positive economic benefits in just over 12 weeks of service.
- (1) Insurance brokers are eager to learn about the solution to take it to fleets that have been long underserved in terms of insurance options. At the time of submission, over 50 brokers have signed up for the educational seminars, to understand the program. Currently, commercial brokers are marketing to their fleet business. A larger promotional campaign is in development to extend the solution across Ontario.
- (2) Insurers have strongly supported the program. Travellers Insurance, a leader in fleet underwriting, has mandated the use of fleetadvisor for a fleet we are servicing currently. Many insurers that have not yet adopted a telematics strategy have welcomed Fleetadvisor as a non-insurance risk management play in the marketplace.
The average savings amongst the 9 fleets reporting is $2,640 per vehicle per year. In addition to extremely strong savings, changes did arise in driving behaviour.
Fleetadvisor has seen improved driving scores within each fleet. Driving scores are determined from the following key indicators: Acceleration, Braking, Speed, Urban Driving and Nighttime driving.
From September to October, driving scores improved on average 20% across each fleet, month-over-month. From October to November, driving scores improved 72% month-over-month. Efforts continue to monitor and examine results, but these results far exceeded expectations.
About IBRI
IBRI is a 100% owned subsidiary of the Insurance Brokers Association of Ontario (IBAO). IBRI’s mission is to deliver innovative products, services and solutions that enable brokerages within the Canadian Insurance Industry to realize their full potential. IBAO is a voluntary membership organization serving the interests of more than 12,000 independent insurance brokers across the Province of Ontario.
Source: Independent Broker Resources Inc.
