In conjunction with telematics provider EROAD, transport insurance provider NZI launched it’s Safe Driving Rewards Programme at the Road Transport Forum conference in September 2015.
NZI national manager commercial motor Ian Taylor says already more than 39 unique organisations are signed up, involving more than 1,628 heavy vehicles.
“It only takes a minute or two to sign up if you are an existing EROAD customer and insured with either NZI or Lumley, and you’ve got absolutely nothing to lose and everything to gain by doing so,” says Taylor.
The programme offers customers who demonstrate safe driving behaviour, the opportunity to have their insurance excess waived if they meet driver safety benchmarks. through the star ratings This is determined from combining a company’s drivers’ individual scores and then comparing these with all other EROAD customer scores.
Taylor says the amount of excess waived per customer can vary from $500 to $10,000 depending on their insurance policy terms.
The programme is creating its ratings by using driving factors such as harsh braking, harsh acceleration and speeding events, data which is collected by the EROAD units installed in customer vehicles.
The telematics data received under this plan is collected for research and development to investigate the feasibility of a heavy motor usage-based insurance product.
Taylor says the data will not be accessed by the underwriters, or used to set an individual customers renewal terms or to decline a claim.
Taylor says the initial idea was to run the Safe Driving Rewards Programme for twelve months but given there has been a recent flurry of new entrants into the scheme; the insurance company is considering an extension.
Taylor also says the drivers are reacting to the programme positively because it allows them to see how they rank against each other and sets a benchmark for their behaviour by comparing them to other EROAD connected transport operators and they like the idea of being able to benchmark themselves against industry competitors.
“We also think there is a connection between safer driving and the retention of drivers within a company fleet,” he says.
“We also believe in the future that there will be more insurance offers connected to safe driving and if people find themselves below the top 25% threshold, then we can help with our Fleet Risk Management Service,” says Taylor.
“Our Fleet Risk Management Programme is all about identifying risks, understanding the impact of those risks and responding in a way that minimises a risk’s potential effect,” says Taylor.
The Fleet Risk Management team is made up of a dedicated group of logistics and transport industry experts who have more than 120 years of industry knowledge between them.
The team is providing independent, objective assessment and advice based on their working knowledge of the business’s operations.
It reports on findings, recommends a course of action and then works with the transport operator to support implementing the necessary changes.
In the unfortunate event of a crash, NZI also provides a crash scene assistance service which sends a specialist tow truck operator to the event, arranges for road clean-ups and repatriates the driver if necessary.
