Some of the ways that installing telematics can benefit your fleet.
When it comes to improving the safety of your drivers and the risk of your fleet, implementing telematics solutions effectively can form an essential part of your strategy. By choosing a telematics option that suits your fleet, you can unlock valuable insights into how to drive down your risk and maximise your operational efficiency.
But it’s not always easy to understand how telematics can fit in with your fleet. To help you see the full picture of where you can integrate these products within your operations, we’ll explore how implementing an effective solution can help every fleet, regardless of its size.
Get insurance that suits you
By integrating telematics with your fleet, you may be able to drive down the cost of your premium through setting up a mileage-based insurance policy, which factors the distance covered by your vehicles into your price. Alternatively, some devices are compatible with a behaviour-based insurance product, which rewards good driving practices with a reduced premium.
Help your drivers save money
Not only is saving on fuel a great benefit for your drivers, but there is also a correlation between unsafe driving and fuel inefficiency. You may be able to capture valuable information about how your drivers could be saving on fuel. If you share this information with your drivers, not only will you help them save on avoidable costs, but you’ll also help to improve their safety out on the road.
Keep your vehicles secure
Any device that is equipped with a GPS tracker can act as a valuable asset in the recovery of a vehicle if it is stolen. On average, a fleet loses around £16,000 per year because of vehicle or equipment theft, and worryingly, vehicle theft is on the rise too.
Many solutions provide you with real-time tracking software, which helps you keep an eye on where any of your vehicles are at any given moment. You may also be able to set up notifications if anyone tries to tamper with any of your vehicles too, which can be a great asset in preventing the theft of your vehicles.
Some systems may also enable you to set up geo-fencing, which allows you to put geographical boundaries or route restrictions in place for your fleet. That means that if any of your vehicles leave your defined area, you’ll receive an alert, so you can stay on top of your fleet.
Reduce your risk
There are a number of ways that you can use telematics to reduce the risk of your fleet. Many solutions provide you with data and insights that can be used to gamify driver apps, incentivising good driving behaviour. Others, such as an inward-facing camera, can help to monitor whether your drivers are distracted while they’re at the wheel.
By embedding these systems into your daily operations, and taking the time to set up and manage reporting, you can gain valuable insights into how to reduce your risk.
Manage your claims
Telematics can prove to be an important asset when it comes to claims management. By using event data collected in the aftermath of a crash, claims handlers can access an unbiased, factual account of an incident, enabling them to reach an informed decision quickly and fairly.
If you can provide an Electronic First Notification of Loss (eFNOL) to a claims handler, you can report incidents quickly and easily. This enables investigations to begin faster and you can avoid costly delays in getting your vehicles back out on the road. The faster a claim is closed, the less it will cost, which is a benefit for both you and your insurer.
Optimise your logistics
Some software can help you inform your drivers of the safest or most economical routes to take. This kind of remote logistical management helps to improve the efficiency of your operation. In turn, your drivers will benefit from being safer when they’re behind the wheel and can benefit from a reduction in fuel spend.
Track your mileage
If you manage a grey fleet, where your drivers use their own vehicle for business purposes, mileage allowances add up to quite a sum at 45 pence per mile. Telematics can make it easier for drivers to keep track of their mileage and gives you peace of mind that they’re recording it accurately.
When you install a device that can keep track of your mileage, you can avoid being out of pocket through failing to claim for MAR (Mileage Allowance Relief).
Forecast vehicle maintenance
Many telematics products can provide you with data that helps you forecast when your vehicles will require maintenance work or repairs. Often, you can set up automated alerts to help you stay one step ahead by forecasting your maintenance budgets, minimising your vehicle down-time and keeping your drivers safe.
When it comes to making a decision on where telematics can fit in with your business, it’s important to keep a clear idea of what’s important for you and your fleet.
At Zego, we design bespoke fleet insurance products that help you get the most out of your chosen telematics solution. You can find out more about how we help you improve the safety of your drivers, manage your risk and optimise your efficiency by visiting our Fleet insurance page.