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Toronto, ON (Mar. 18, 2023) – Facility Association (FA) is pleased to announce it will launch a telematics program for truck drivers in Alberta, effective May 1st. The objective of the program is to help drivers and operators improve driving habits and correct poor driving behaviours that have been observed through a video enabled telematics device. Enrollment in the telematics program is voluntary, and participants would qualify to receive an incentive reduction in premium of up to 8%. More importantly, participation in the program may qualify them to return to the standard market where they would enjoy more choice and lower prices for coverage.
“One of FA’s primary objectives is to have as minimal market presence as possible. When we see trends of our market share growing like we have in Alberta with interurban vehicles, we look for ways to try and get drivers back into the standard market,” said Saskia Matheson, President & CEO of Facility Association. “There are a variety of reasons why drivers end up with FA, but poor driving habits or behaviours are the most common. Being insured through FA is meant to be temporary. We believe that consumers are best served in an open and competitive insurance market and this new telematics program can help them get there.”
Here is how the program will work. FA has partnered with Foresight Insurance Analytics Inc who install the telematics device, and manage all the data received. A score is generated on a daily basis and shared online with the customer, which allows them to improve their score over time and correct poor driving habits that have been observed. The score is based on the interaction of multiple incident types. These incidents are typical for telematics programs and include risk factors such as red light violations, distracted driving, following too close, hard braking, late braking, weaving in and out of lanes, hard on gas, harsh turning, no seatbelt, and lane violations. FA does not have access to, nor receives any of the data that is used to generate a score, which protects the privacy of the driver. FA will collect mileage driven outside of Alberta, for IU Telematics participants, to assist in accessing data related to the location of operation, which helps ensure the premium reflects the level of risk.
“Since 2018, our market share of trucks in Alberta has increased significantly. FA saw a 47% increase in vehicle count in 2021 over 2020, and a further 14% in 2022 over 2021. We know this is not sustainable going forward and it’s the primary reason this program needed to be launched now,” said Fadia Charbine, Vice President, Underwriting, Claims & Operations. “We recognize the importance of the trucking industry to the Alberta economy. By providing daily feedback, this program not only provides drivers with the additional training and experience, but it will also support safer roads and highways in the province.”
“This is a great program that will provide drivers with another level of training, which strengthens their experience behind the wheel. With more experience, we are optimistic that this will help move more risks out of FA and in the standard insurance market,” said, George Hodgson, CEO of the Insurance Brokers Association of Alberta.
“As the leader in promoting and advancing trucking safety in the province, the AMTA fully supports Facility Associations’ introduction of a telematics program as a means to potentially lower insurance costs for trucking companies,” said Willie Hamel, President, Alberta Motor Transport Association. “This initiative provides drivers with real-time feedback on how to improve their driving habits, which will help improve the safety of our roads, and provide drivers the experience they need to have access to lower insurance rates.”
Following the launch in Alberta, FA intends to explore opportunities in other provinces to determine if there is a desire to establish a similar program.
About Facility Association
Facility Association guarantees the availability of automobile insurance to those who are eligible, through the Residual Market Mechanism and through Risk Sharing Pools. Facility Association is an unincorporated non-profit association of insurers. FA operates in Yukon, Nunavut, Northwest Territories, Alberta, Ontario, Nova Scotia, New Brunswick, Prince Edward Island and Newfoundland and Labrador. Every insurer licensed to write automobile liability insurance in these jurisdictions is a member of Facility Association. For more information, visit www.facilityassociation.com.
About Foresight Insurance Analytics
Foresight Analytics, a Toronto-based technology firm, provides connected insurance technology for loss control, risk rehabilitation and segmentation for the auto insurance market. Foresight’s AI-Camera technology measures commercial drivers’ safety performance and uses that data to provide targeted coaching to limit high-risk habits, increasing safety on the roads. Foresight’s coaches gives drivers helpful tips on a regular basis and tracks the progress of these drivers in order to improve their risk and showcase them to insurers for better rates. Foresight’s mission is safer roads and together with the FA and their member organizations will change the landscape of commercial auto by giving drivers more choices and ultimately better premiums through lower risks and fewer losses. For more information, visit foresightanalytics.ca.
Source: First Onsite Property Restoration
Tags: Alberta, driving habits, driving safety, launch, Telematics, Truck
