A striking – and tragic – impact of the Covid-19 pandemic Stateside has been the rise in road accidents. That might seem counterintuitive, given quarantines and less business activity. According to the Washington Post, however, with fewer vehicles one road “average speeds increased significantly above the posted speed limit, more than doubling in some cities.” Despite an effective lockdown in many States, fatalities on the roads in the US were up a startling 20% for the period January to June.
It’s a time when vehicle telematics is proving its worth, leading to safer driving among fleet drivers and a reduction in insurance claims. According to one Philadelphia-based insurance provider, fleets using its telematics solution have seen a near-20% reduction in loss frequency compared to policyholders not availing of the solution. With GPS trackers on the vehicles, companies are benefitting from the insights gained into driver behaviour, in real-time, and are taking corrective actions to lower the risk of accidents as a result.
“We’re seeing safer driving habits and a reduction in claims for our customers. Those are the two primary goals, so it’s a huge win-win for us and policyholders,” commented Mark Konchan, Vice President of Risk Management Services at Philadelphia Insurance Companies (PHLY).
PHLY covers the cost of telematics devices and monitoring solution for commercial auto customers, regardless of the account’s premium amount or fleet size.
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