It’s no secret that in order to be successful, a company requires two things: a healthy bottom line and a clean safety record. As technology improves and data tracking becomes easier, safety and savings can go hand in hand.
A great example of advancements in technology with great potential to save companies money is in new fleet safe driving systems. These systems are added components to company vehicles that allow the driver to practice safer driving, and at the same time permit insurance companies to have insight into driving habits and vehicle usage.
Drive Smarter, Be Safer
Improvements in vehicle safety technology has increased over the last few years. With the introduction of cameras and anti-collision radar systems, a driver now has the ability to have essentially a 365 degree view of their vehicle at all times. As long as the driver remains attentive, these systems can help prevent collisions that have plagued fleets for decades, such as lane departures, side swipes, and rear-end accidents.
Studies show that these smart anti-collision or collision avoidance systems, though often seen as an expensive up-front investment, ultimately save companies money simply in the reduction of the number of incidents that occur or the severity of incidents when they do occur. Some insurance companies also offer a discount on insurance costs for having these systems in place. However, there will soon be opportunities for even more money to be saved.
Drive Smarter, Save Money
Thanks to smart fleet equipment, insurance companies are able to use real-time tracking and data capturing to monitor the driving habits of a fleet and analyze the data from an accident more quickly and efficiently. This sort of “big brother” approach may feel invasive, however at the end of the day it saves time on paperwork and insurance claims, as well as allows corrective action to happen before an accident does.
In addition to added safety, new fleet technology being tested can also track vehicle usage. This allows insurance companies to consider risk based on both driving habits and the percentage of time that a vehicle is being used. The safer the driver and the longer the vehicle is parked, the smaller the insurance payment will be. Tests are also being conducting on anti-cellular devices that prevent the use of phones or tablets while sitting in the driver seat. By reducing distractions, this technology hopes to improve driver awareness, prompting insurance companies to improve insurance rates.
Safety, Savings, and the Bottom Line
There are sure to be more advancements in fleet technology coming down the line. Insurance companies are watching these advancements closely, and learning how to navigate a safer industry with coverage costs. At the end of the day, safety for drivers is paramount to anything else, and if a fleet can use this technology to increase that safety, than that’s worth the investment on its own. But more likely than not it will also add money to the bottom line, and allow a company to continue driving safely into the future.