PIB launches telemetry-based insurance package
PIB Insurance Brokers has launched a fleet insurance product which uses telemetry data and focused risk management to help operators reduce costs.
Vehicle telemetry is key to the product: driver behaviour monitoring tools are used to underpin a three-year risk management programme supported by the broker and insurer.
Telemetry data provided by the telematics provider is analysed on a monthly basis with reports provided to the fleet operator along with risk improvement advice individually tailored to the performance of the business.
Drivers can be scored on their driving performance, helping fleet managers to identity areas for improvement. By hitting performance targets, companies will not only be able to reduce overall risk, but will also have the opportunity to reduce the frequency, fluctuations and severity of motor claims, which in turn will contribute to the reduction of insurance premiums.
CEO Brendan McManus said: “The launch of this innovative product is incredibly exciting and represents PIB breaking new ground within the fleet insurance arena.”