Zurich, one of the world’s largest fleet insurers, has announced that its Zurich Fleet Intelligence (ZFI) telematics system will be rolled out in New Zealand with telematics partner Trimble.
“The telematics product will tie in with the insurance product on a case by case basis,” says David Walsh, Zurich spokesperson.
“Underwriters will consider a financial solution with the customer and broker. This may take the form of up-front discounted premium; part-funding of the additional ZFI costs; or an enhanced claims discount, linked to agreed performance indicators.
“A fleet Insurance premium is based on a number of factors including past claims experience. So if ZFI is used to its potential by a company, the premium calculation may reduce in real terms.”
“Zurich has a panel of approved global telematic providers for those fleets that are yet to embrace the technology. They can also accept pre-installed telematic devices, subject to some basic data requirements. The interface (via the internet) is provided by Zurich’s long-standing third party, Interactive Driving Systems (IDS).”
Zurich’s Australian senior risk engineer Mervyn Rea says the benefits of the technology are threefold, with improved safety, better business performance and less environmental impact.
“It’s the safety improvements which have fleet operators most interested,” says Rea.
“ZFI reduces the risk of fatality, serious injury and vehicle damage by including risk-based driver monitoring and coaching. This means that when drivers break speed limits, take corners too hard, slam on the brakes, accelerate excessively, and so on, they’re alerted immediately and the events are recorded.
“Companies can then analyse the driving data on the secure website and work through any issues with high risk drivers. ZFI also provides online coaching to support this process.
“Once drivers improve their driving technique, they not only avoid crashes but they also reduce the frequency and severity of them. Just as importantly for fleet operators, this modified driving technique improves the interaction between man and machine, resulting in less wear and tear, engine idle and fuel wastage.
ZFI was awarded the ‘Best Use of Technology in Risk Management’ category at the Risk Management Awards in London.
More recently, it was recognised by global research and consulting firm, Celent, in their annual ‘Model Insurer’ awards.
Zurich urges fleet operators looking for more information about ZFI to contact their broker.
For more information on the NZ telematics industry see our recent overview online HERE, or download the latest DieselTalk print magazine HERE
