With the price of cars, parts and vehicle repairs escalating at a rate beyond inflation we would anticipate that motor fleet premiums are going to face significant pressure in 2023 after a period of discounts enjoyed post pandemic.
Castlemead have seen significant increases in vehicle claims in the last 6 months with employers being forced to take candidates with driving convictions and problematic driving history. On average, 20% of your drivers represent a much greater risk on the road than the majority. This 20% will account for 80% of your concerns, incidents, claims, increased costs and could even negatively impact your reputation and business continuity. Global data suggests that 94% of collisions are caused by driver error resulting from risky attitudes and behaviours on the road.
With this in mind we engaged with Solera, the global leader in vehicle lifecycle management software-as-a-service, data, and services to review their Mentor by eDriving program. Mentor is a smartphone-based solution that collects and analyses driver behaviours most predictive of crash risk and helps improve risky behaviour by providing engaging, interactive micro-training modules delivered directly to the driver in the smartphone app, as well as coaching support and gamification to keep drivers engaged.
Castlemead evaluated the program using our own drivers and sales team.
The app focuses drivers on the main causes of accidents:
- ACCELERATION – fast starts or harsh accelerating when pressing your accelerator pedal more aggressively.
- BRAKING – typically a result of the driver following too closely, or being distracted and missing signs, lights, exits, or stops, causing them to brake quickly and harshly to avoid a collision.
- CORNERING – taking a corner too quickly, which is especially dangerous in high-sided vehicles.
- DISTRACTION – any interaction with your actual device while the vehicle is moving, including moving or handling your device, making or receiving phone calls, or texting while driving.
- SPEEDING – driving over the speed limit.
The app takes all of the above aspects into account and calculates a score for each trip you take. 850 points is the highest you can score, whilst drivers with scores below 710 are up to 30% more likely to have a future collision than those with higher scores. Each trip also receives a rating of 1-5 stars, along with the specific positive and negative points of the trip so you can see where you can improve.
Trial Week 1
The drivers were all asked to drive “normally” for the first week. Reviewing the scores during the team’s weekly sales meeting, what became apparent is those in more rural locations had lots of harsh braking and cornering incidents, while motorway and A-roads contributed towards higher scores. After undertaking some training using the series of short eLearning videos, trends, tips etc. on the app and being challenged by the team to improve scores (AKA a huge amount of ribbing and posturing), for the second week, everyone set out with the intention of bettering their first week’s score (and whether they could beat their team mates of course!)
Trial Week 2
Unsurprisingly, over the week everyone’s scores improved. Everyone reported that they had been more conscious of their style of driving, making better decisions around routes, speed and how they drove. The most improved driver received a box of Heroes for their week’s endeavours (and a chance to feel smug!)
On a serious note, however, Solera reports that using the program can result in up to 89% reduction in risky events among high-risk drivers over 18 months. Its patented crash-free culture methodology has helped clients achieve up to 67% reduction in collisions, as well. With this in mind, Castlemead have decided to offer this solution to their clients. In some cases, there may also be premium discounts with certain insurers by using Mentor by eDriving.
If you would like to discuss the options, please contact the team at Castlemead.
Founded in 1987, Castlemead Insurance Brokers is an independent commercial insurance broker, specialising in Corporate Insurance, offering a full insurance broking and risk management service to our clients. Offices in the South-West of England, with clients across the UK, including Scotland and Channel Islands. Castlemead are experts in International Insurance Programmes and are partner members of the GBN Insurance Network. We also have an EU subsidiary to aid placing insurance policies with modest EU Insurance risk.