Towergate Underwriting Transportation, a UK provider of specialist insurance products, is to market Greenroad’s driver safety and fuel-economy service to its clients.
The hope is that this will help Towergate clients cut their accident claims rate and thus be able to negotiate more favourable insurance premiums. This also gives Towergate new intelligence about risk and safety levels, which should lead to more effective risk management strategies and tailored insurance offerings that reflect the reduced risk.
Towergate has already signed up seven customers to use Greenroad’s service with deployments numbering hundreds of vehicles and drivers. Examples include EJ Masters Nightfreight delivery service and Transworld Logistics (TWL).
Masters Nightfreight is using Greenroad’s service across a fleet that ranges from small vans to articulated trucks. On going live, it recorded a 65% reduction in risk with driver behaviour changing from high-risk red drivers to low-risk green drivers and has continued to sustain the improvement.
“We will admit that we had a poor track record when it came to road incidents,” said John Allen, operations manager at EJ Masters Nightfreight. “In fact insurance became our single largest business expense. We had to find a way to manage it. Thankfully Towergate introduced us to Greenroad resulting in a huge reduction in incidents.
“Greenroad has had a snowball effect in our depot. As the drivers started improving their performance there were fewer bangs and dents in the vehicles. As their vans and lorries looked better, drivers started taking more pride in their vehicles and their job, resulting in further improvements to their driving and a fleet of vehicles to be proud of.
“Drivers have now learnt the true meaning of the word safety, and I enjoy hearing comments about how safe driving is so much less stressful.”
TWL, a supplier to UPS and TNT, is installing Greenroad’s service in 125 delivery vans this summer. During a pilot project, TWL saw a 45% improvement in safety as soon as it started giving drivers feedback through Greenroad’s service.
“The benefits and savings seen at EJ Masters and TWL underscore the importance of safe driving,“ said Andrew Evans, managing director at Towergate Underwriting Transportation. “Greenroad gives our clients an easy, proven way to cut accidents and better manage insurance costs. With the added bonus of improved fuel economy, Greenroad ticks all the boxes for today’s COO, CFO and fleet manager.”
Greenroad 360 provides drivers and fleet managers with real-time, feedback, online reporting, analysis and coaching on their abilities, manoeuvres and patterns. As a result, it positively impacts both conscious and unconscious driving behaviour – the key to creating more fuel-efficient and safer drivers.
“Our new partnership with Towergate added to Marsh, Zurich, Belmont and Admiral demonstrate it is now a standard to use technology to provide a tangible business benefit like lower insurance rates based on lower risk,” said Eric Shishko, senior vice president for global insurance at Greenroad. “These industry pioneers have found a way to enhance their relationship with their clients and build loyalty in an often fickle market.”
A typical Greenroad customer sees up to a 10% reduction in fuel-consumption and emissions as well as a 50% reduction on collision costs, according to the company.