{"id":2678,"date":"2021-08-16T05:55:00","date_gmt":"2021-08-16T05:55:00","guid":{"rendered":"https:\/\/tangerine.ai\/?p=2678"},"modified":"2023-06-26T05:57:12","modified_gmt":"2023-06-26T05:57:12","slug":"why-insurance-telematics-is-the-future-of-fleet-insurance","status":"publish","type":"post","link":"https:\/\/tangerine.ai\/telematics\/why-insurance-telematics-is-the-future-of-fleet-insurance\/","title":{"rendered":"Why Insurance Telematics is The Future Of Fleet Insurance"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"2678\" class=\"elementor elementor-2678\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-68ace66 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"68ace66\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2796872\" data-id=\"2796872\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e8d39f4 elementor-widget elementor-widget-text-editor\" data-id=\"e8d39f4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.12.0 - 29-03-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p><!-- wp:paragraph --><\/p><p>A large fleet entails large expenses. This expense is compounded by the fact that the personnel, as well as the vehicles, need to be insured. But alas, no matter how \u2018safe\u2019 a prospect your fleet might be, the insurance premiums remain the same for everybody. Or, do they?\u00a0<\/p><p><strong>The future of Fleet Insurance<\/strong><\/p><p>Insurance costs have risen steeply in the past few years. This has put fleet operators under pressure. A novel\u00a0<a href=\"https:\/\/web.archive.org\/web\/20211129142442\/https:\/\/tangerine.ai\/insurance\/\">Telematics based fleet insurance<\/a>\u00a0system can help fleet operators reduce costs.<\/p><p>With the use of telematics technology,\u00a0<a href=\"https:\/\/web.archive.org\/web\/20211129142442\/https:\/\/tangerine.ai\/\">fleet management<\/a>\u00a0can be simplified. And, with the integration of insurance providers with telematics, the cost of insurance premiums too can be reduced. This helps fleet operators save a lot of money and brings in more business to the insurance providers at reduced risk.\u00a0<\/p><p><strong>What Telematics offers<\/strong><\/p><p>Insurers need different means to assess risk and Telematics solutions are just the right tools. Tangible benefits can be clearly evidenced from in-vehicle technology that monitors and reports on\u00a0<a href=\"https:\/\/web.archive.org\/web\/20211129142442\/https:\/\/tangerine.ai\/blog\/driver-behavior-analysis-and-monitoring-safe-and-effective-fleet-management\/\">driver behavior<\/a>\u00a0in the use of the vehicle. Driving patterns data such as harsh braking\/acceleration\/cornering\/speeding\/lane changing, etc will allow both fleet managers as well as insurance providers to assess risk engineering policies which in turn allows for a reduction in the cost of risk for the motor fleet.\u00a0<\/p><p><strong>Usage-Based Insurance\u00a0<\/strong><\/p><p>In usage-based fleet insurance, mileage and driving behaviors are tracked through Telematics systems. Tracking is achieved by in-vehicle telematics technology that is available in a vehicle. It can also be available through mobile applications. A driver\u2019s behavior is monitored directly, allowing insurers to more closely align driving behaviors with premium rates.<\/p><p>Telematics devices measure a number of points that are valuable to insurance providers. Through a telematics device, information like kilometers driven, routes taken, time of the trip, driver behavior such as sudden acceleration, hard braking, cornering, speeding, etc can be monitored. This data enables the insurance provider to assess the risk a particular truck poses and arrive at the insurance rate for it accordingly. Vehicles with drivers having a good driving score can avail insurance at a lower premium. A \u2018safe\u2019 driver can be charged a lower premium whereas a \u2018risky\u2019 driver can be charged a higher premium. Usage-based insurance has the advantage of utilizing individual and current driving behaviors, rather than relying on aggregated statistics making premium pricing more individualized and precise.<\/p><p><strong>Advantages of Usage-Based Insurance<\/strong><\/p><p>Telematics-driven usage-based insurance schemes offer many advantages to insurers and fleet operators alike. Linking insurance premiums to fleet performance allows insurers to more accurately price premiums. This increases affordability and reduces costs. It also gives consumers the ability to control their premium costs by offering incentives to drivers to reduce kilometers driven and adopt safer driving habits. Safe and efficient driving further reduces costs and increases the profit margin.<\/p><p>The use of telematics helps insurers to more accurately estimate accident damages, identify the perpetrators and reduce fraud cases by analyzing the data. Video Telematics plays an important role in monitoring real-time driver behavior. The video footage along with incident insights are uploaded to the dashboard, which allows insurers to ascertain the exact cause of an incident by providing crucial data to understand.<\/p><p><strong>Why Tangerine\u00a0<\/strong><\/p><p>Tangerine\u2019s Next-Gen\u00a0<a href=\"https:\/\/web.archive.org\/web\/20211129142442\/https:\/\/tangerine.ai\/insurance\/\">Commercial Truck Insurance with Video Telematics<\/a>\u00a0provides specific coverage and risk management options to businesses operating fleets of all sizes at a reduced insurance premium. By integrating Tangerine\u2019s video-based insurance telematics solutions into your fleets, we not only protect your trucks and drivers but also reduce costs, increase efficiency, improve your overall operations, and provide the coverage you need at the best rate.<\/p><p>Tangerine\u2019s niche expertise provides the products you need and the service you deserve to get back on the road faster. We understand your needs and share your concerns, we have the program that fits your requirements so your drivers can drive with confidence<\/p><ul><li>Lower Insurance Premiums<\/li><li>Reduce Accident Related Costs<\/li><li>Improve Safety Scores<\/li><li>Reduce Unplanned Maintenance<\/li><li>Protect Drivers Against Frauds and Complaints<\/li><li>Improved Operational Efficiency<\/li><\/ul><p><!-- \/wp:paragraph --><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>A large fleet entails large expenses. This expense is compounded by the fact that the personnel, as well as the vehicles, need to be insured. But alas, no matter how \u2018safe\u2019 a prospect your fleet might be, the insurance premiums remain the same for everybody. Or, do they?\u00a0 The future of Fleet Insurance Insurance costs [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2679,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why Insurance Telematics is The Future Of Fleet Insurance - Tangerine<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tangerine.ai\/telematics\/why-insurance-telematics-is-the-future-of-fleet-insurance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Insurance Telematics is The Future Of Fleet Insurance - Tangerine\" \/>\n<meta property=\"og:description\" content=\"A large fleet entails large expenses. This expense is compounded by the fact that the personnel, as well as the vehicles, need to be insured. But alas, no matter how \u2018safe\u2019 a prospect your fleet might be, the insurance premiums remain the same for everybody. Or, do they?\u00a0 The future of Fleet Insurance Insurance costs [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tangerine.ai\/telematics\/why-insurance-telematics-is-the-future-of-fleet-insurance\/\" \/>\n<meta property=\"og:site_name\" content=\"Tangerine\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-16T05:55:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-26T05:57:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tangerine.ai\/wp-content\/uploads\/2023\/06\/home-commercial-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"740\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"tangerine\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"tangerine\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tangerine.ai\/telematics\/why-insurance-telematics-is-the-future-of-fleet-insurance\/\",\"url\":\"https:\/\/tangerine.ai\/telematics\/why-insurance-telematics-is-the-future-of-fleet-insurance\/\",\"name\":\"Why Insurance Telematics is The Future Of Fleet Insurance - Tangerine\",\"isPartOf\":{\"@id\":\"https:\/\/tangerine.ai\/#website\"},\"datePublished\":\"2021-08-16T05:55:00+00:00\",\"dateModified\":\"2023-06-26T05:57:12+00:00\",\"author\":{\"@id\":\"https:\/\/tangerine.ai\/#\/schema\/person\/b57ee71b4b711ac914c0fdb916144008\"},\"breadcrumb\":{\"@id\":\"https:\/\/tangerine.ai\/telematics\/why-insurance-telematics-is-the-future-of-fleet-insurance\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/tangerine.ai\/telematics\/why-insurance-telematics-is-the-future-of-fleet-insurance\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/tangerine.ai\/telematics\/why-insurance-telematics-is-the-future-of-fleet-insurance\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/tangerine.ai\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Why Insurance Telematics is The Future Of Fleet Insurance\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/tangerine.ai\/#website\",\"url\":\"https:\/\/tangerine.ai\/\",\"name\":\"Tangerine\",\"description\":\"Tangerine\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/tangerine.ai\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/tangerine.ai\/#\/schema\/person\/b57ee71b4b711ac914c0fdb916144008\",\"name\":\"tangerine\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/tangerine.ai\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/b960a3439e2cec59619c6376e788b625?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/b960a3439e2cec59619c6376e788b625?s=96&d=mm&r=g\",\"caption\":\"tangerine\"},\"url\":\"https:\/\/tangerine.ai\/author\/tangerine\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Why Insurance Telematics is The Future Of Fleet Insurance - Tangerine","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/tangerine.ai\/telematics\/why-insurance-telematics-is-the-future-of-fleet-insurance\/","og_locale":"en_US","og_type":"article","og_title":"Why Insurance Telematics is The Future Of Fleet Insurance - Tangerine","og_description":"A large fleet entails large expenses. 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