Insurance Underwriters Get the Scoop on How to Accurately Gauge Commercial Auto Risk
How does an insurance underwriter know which of his commercial auto clients’ drivers are good and which are just lucky?
According to Speed Gauge’s VP of Insurance Services Chris Carver it’s all in the data. In his discussion with Motor Carrier Insurance Education Foundation Truck Stop webinar host Tommy Ruke, Chris led insurance professionals through a review of the data behind risk scoring and how it can be used to benchmark driving risk for commercial auto insurance clients.
Chris showed how petabytes of driving data can be distilled into a meaningful risk score that incorporates individual driver performance, vehicle characteristics and capabilities, and environmental factors ranging from road type and history to traffic dynamics.
(Image courtesy of MCIEF)
With this understanding of what’s behind the score, Chris then explained how risk scoring can be used to benchmark overall fleet performance and risk, and then tracked over time to uncover trends… among them which drivers are “doing it right” and which may need some coaching to improve safe-driving performance and lower risk to themselves and others on the road.
Click here to play the complete webinar. (Note: this link will require registration on the MCIEF website.)