Hear from Eric Waldinger, Chief Marketing Officer, SambaSafety, on The Blind Spot as to how commercial auto insurance carriers are facing challenges every day, including your combined ratios during the COVID-19 pandemic.
Consider the fact that personal lines auto carriers are swimming in data and commercial carriers and brokers don’t have that opportunity at-hand. The brokers don’t get the full picture due to lack of data, making driver monitoring more impactful when implemented within an organization. When choosing to employ driver monitoring, you give even more power to the broker to have informed conversations with underwriters.
After all, if you want to understand that crashes have decreased a certain amount and tangibly model this out to better inform your risk profile, brokers can go to carriers and be able to leverage this data in a more advantageous way.
There’s a huge visibility gap that exists in the interim, meaning that you’re exposed to knowing once a year how your drivers are performing. Instead, imagine if you knew of the five drivers presenting your biggest risk. Gaining line of sight into that information means that the carriers are better informed how to insure appropriately.
Every crash has impact after all, and the cost of a crash is exponential. So how are you spending to keep people safe?
To learn more about how driver monitoring can impact your combined ratios, download our white paper.