Zurich has won an award for its Fleet Intelligence offering from global research and consulting firm Celent in their annual Model Insurer awards, which recognise insurers for ‘innovation in service’.
This is the second award in quick succession for Zurich Fleet Intelligence, following its success at the 2011 Risk Management Awards in the ‘Best Use of Technology in Risk Management’ category.
Zurich Fleet Intelligence aims to help companies improve their fleet operations and manage their risk. Launched in the UK in 2010, the proposition goes beyond the industry norm ‘pay-as-you-drive’ telematics products as Zurich works in partnership with the customer, offering an easy-to-implement, integrated solution.
It combines carefully selected vehicle telematics technology with insightful reporting and driver development tools to help fleet operators improve safety, lessen operating costs and reduce environmental impact through lessened fuel consumption and vehicle wear and tear.
Onboard telematics technology allows commercial fleet operators to monitor and assess driver behaviour at the same time as gathering raw data.
The equipment tracks and measures vehicle and driver behaviour on a continuous basis and the fleet operator receives the resulting data via a web portal. This data provides companies with helpful insights that could be used for targeted driver training and coaching.
Nick List, Zurich Fleet Intelligence proposition manager, said: “We are delighted that Zurich Fleet Intelligence has been recognised by Celent with an ‘Innovation in Service’ Award.
“We are constantly developing our products and services to meet the needs of our customers. The feedback from organisations has been very positive so far because the proposition helps customers to increase driver safety which can in turn deliver cost savings. This benefit is especially important in these challenging economic times.”
One customer in the UK which has installed the Zurich Fleet Intelligence equipment in 32 vehicles has seen rapid return on its investment.
Within six months, fuel savings of up to 15% were achieved as a result of drivers increasing their miles travelled per gallon through adapted behaviour.
In the same time period, collisions and minor incidents dropped by 13%, reduction in own damage was down 40% and third party costs reduced by 30%.