Agents & Brokers
StriveSafe’s partnership with state fund workers compensation insurance carriers can help your clients address recent increases in Commercial Auto Insurance premiums. The partnership offers policyholders 50% discounted rates on patented driving safety telematics system, StriveSafe, which has helped clients reduce on road crash rates by up to 90%.
Astronomical Increases in Commercial Auto Premiums
According to the Q3 2018 report by the Council of Insurance Agents & Brokers (CIAB), Commercial Auto Insurance premiums increased for the 29th consecutive quarter by an average of 7 percent. Some brokers noted increases as high as 30 percent on some accounts. Commercial Auto increase have remained on average three to four times that of other lines of business.
Increase in Motor Vehicle Incidents and Claims Costs
Several significant trends are leading to increased claims on commercial auto policies, and ultimately increased premiums.
- More vehicles driving more miles
- Driver distraction due to cell phones, navigation and other technology
- Less experienced drivers due to high unemployment
- Increase in claim severity, litigation and costs
Three Ways to Reduce Commercial Auto Premiums
The best way to reduce commercial auto insurance premiums – without reducing coverage or increasing deductibles – is by helping your client improve their Driving Safety Program – especially with regard to driver history and driver performance.
- Select good drivers
Even when hiring for positions that do not require driving on a daily basis, a solid history of safe driving is reflective of safety conscious behavior. Conduct proper due diligence and license checks.
- Train drivers consistently
Provide job-appropriate training annually, not only upon initial hire.
- Monitor drivers
The benefits of GPS telematics on driver safety improvement is well documented. A good in-vehicle telematics system not only provides your clients with operational benefits but also with critical driver behavior insight.
StriveSafe provides drivers with the information they require to self-manage and self-correct their risky behavior. Managers can focus on the 5% of drivers that cannot/ will not self-correct and provide coaching and training. StriveSafe’s clients have reduced their on road crash rates up to 90% in less than 5 minutes a week.
Become a StriveSafe Partner
StriveSafe provides partners with valuable tools and material to help you discuss driving safety and telematics with your clients. We also offer discounted rates to clients of Agent Partners. Sign up for more information on how to get started!