Driver risk management has traditionally been a manual, time-intensive process for companies — but that’s changing thanks to emerging technologies. Tools like MVR monitoring software make this process less of an administrative burden, all while providing better, more actionable insight. It enables companies to gain full visibility across their driver population, stay on top of important driver activity and intervene before future violations and crashes occur.
We break down eight key benefits of MVR monitoring software for companies that manage fleets.
8 Benefits of MVR Monitoring Software
Continuous Alerts
MVR monitoring software provides continuous alerts of violations, both on and off the clock. It ensures that you aren’t in the dark when it comes to negative driving behavior and license status changes. In turn, you’re receiving the most comprehensive view of driver risk for each driver, thanks to the ability to see violations and unreported incidents via crash and claims data all within one platform.
Safer Driving
Drivers who are aware they’re being monitored often display safer behavior – otherwise known as the Hawthorne Effect. With an average 22% reduction in average monthly violations for drivers enrolled in MVR monitoring, the correlation between monitoring and changed behavior is not to be ignored.
More Meaningful Intervention
Receiving notifications for when violations are incurred creates the opportunity to incorporate intervention tactics upfront. Every mile an at-risk employee is driving without intervention puts companies at greater risk. But with such immediate information at your disposal, you’re able to enact more effective safety and risk mitigation strategies sooner than you would if manually pulling and dissecting MVRs. Targeted driver training is the best way to intervene with at-risk drivers and remediate poor driving habits before they are involved in a crash.
Download Our Free Guide:
How to Revolutionize Your Approach to Mitigating Driver Risk
Mitigated Risk of Self-Reporting
Companies can’t rely on drivers to self-report when they receive a violation or change to their license status. The unfortunate reality is that many drivers will be less than willing to share if they’ve incurred a negative driving violation, especially if good driving behavior is integral to keeping their job. And many individuals don’t realize that their license is invalid, due to unpaid child support or other non-driving-related factors.
From analyzing decades of driver data, our insights have found that:
- 3-5% of drivers have an invalid license
- 19% of roadway fatalities involve drivers with invalid licenses
Whether it’s because of a suspended license, serious moving violation or series of repeated negative behaviors, MVR monitoring helps identify employees who shouldn’t be driving on behalf of your company. MVR monitoring software can save you many sleepless nights and surprises that are typically encountered during your bi-annual, annual or even monthly MVR review process.
Reduced Workload
There are many companies that still rely on traditional driver risk management processes, which typically consist of manually pulling MVRs on an at-hire, biannual or annual basis. And the reasoning behind it does make sense in theory, as manually pulling MVRs is an incredibly time-consuming, expensive and tedious process.
If a company has 1,000 drivers and it takes an estimated 15 minutes to request and analyze an MVR for each driver, the annual MVR process will take at least 250 hours – equating to an astounding six-person team working exclusively on this process for one 40-hour week. It’s important to note this estimation doesn’t include time spent implementing a plan of action to address high-risk drivers, whether issuing warnings, enrolling drivers in training programs or dismissing drivers who have fallen outside the safety policy.
With MVR monitoring software, companies have seen a 79% time savings, with reduced time spent on documentation – from 12-15 hours a week to three.
Improved Employee Support
The faster employees can be notified of problems with their driving records, the faster they can take responsibility for making necessary changes. In some cases – for example, a license suspended for not paying parking tickets – the employee may not be aware of the suspension or invalid license. The ability to quickly identify and rectify any license status issues provides your drivers with the opportunity to remove themselves from the 3 to 5% of those driving with suspended licenses.
Financial Savings
Companies average $50,000 in annual administrative savings after implementing MVR monitoring software. Better yet, you’re likely to find that your commercial auto insurance premiums decrease as well, due to reduced exposure and the possibility of receiving a discount rate from insurers that reward companies for using driver risk management solutions such as MVR monitoring and driver training. Not to mention the reduced likelihood of your drivers being involved in expensive crashes and claims.
Brand Protection
Ensuring that you have a healthy brand reputation is no easy feat. Consumers have the ability to turn quickly on a brand after viewing even one negative or detrimental news story – especially with how accessible information is on the internet. Companies are just one incident away from a catastrophic lawsuit and complete brand degradation.
In order to help solidify an actionable, cohesive and proactive reputation strategy, companies need to avoid potentially catastrophic vehicular incidents involving their drivers on the roadways. Whether or not your driver base uses branded vehicles, ensuring those driving on behalf of your company are low-risk is important in maintaining the integrity of your brand and bottom line. Continuous MVR monitoring software gives you unparalleled insight into your entire driver base, helping you better understand who is behind the wheel on behalf of your company.
Transform Your Driver Risk Management
In order to successfully track driver risk and reduce exposure, companies need full insight into their entire driver population. This means receiving continuous alerts of driver violations and license status changes, so they can take action to remediate the situation as soon as possible.
Curious to see how a comprehensive approach can transform the driver risk management of any sized company? Download our white paper, Revolutionize Your Approach to Mitigating Driver Risk.
