The commercial fleet insurance programme TrackMRI offers fleet management portal, fleet behaviour assessment and programme analytics and hands-on customer support to fleet manager customers
Berkshire Hathaway GUARD Insurance Companies has selected Insurance & Mobility Solutions (IMS), a subsidiary of Trak Global Group (TGG), for its new commercial fleet insurance programme TrackMRI.
IMS is engaged in providing connected car solutions, services, and analytics to insurers, mobility operators, OEMs and governments while Berkshire Hathaway GUARD Insurance is a property and casualty insurance company writing $2bn in premium.
The commercial fleet insurance telematics solution TrackMRI will leverage IMS’ connected car and telematics platform DriveSync.
TrackMRI provides an easy-to-use fleet management portal, device logistics support, data collection, scoring, fleet behaviour assessment and programme analytics, along with hands-on customer support to fleet manager customers.
Berkshire Hathaway GUARD commercial auto vice president Mike Hynes said: “Our fleet manager customers have limited time for research and system or vendor selection, and yet are flooded by technology solutions that only offer a ‘one-size-fits-all’ approach without any real identifiable differentiation.
“Through our relationship with IMS, we are helping fleet managers get the commercial insurance telematics solution they want and need with features and functionality that will have direct improvements on fleet management and driver safety, while helping them potentially save money in the process.”
IMS offers its easy-to-install sensors to be deployed in Berkshire Hathaway GUARD’s policyholders’ commercial fleet vehicles to collect driver behaviour data.
The generated insights can be translated into savings in vehicle maintenance and fuel costs for commercial fleet organisations.
TrackMRI is said to provide fleet managers with the capability to quickly improve fleet driving safety, reduce costs and improve processes.
The programme also delivers an easier method to manage fleets, opportunity to price fleet premiums, and improve the insurers combined operating ratios in the process.
Berkshire Hathaway GUARD is offering TrackMRI to commercial auto policyholders with fleets of three or more vehicles at no-cost, for a limited time.
IMS chief revenue officer Lorie Goodmann said: “The combined ratios across the commercial auto lines industry remains above 100 percent, creating a long-term unprofitable environment.
“Our commercial auto insurance telematics solution provides insurers, like Berkshire Hathaway GUARD, with data-driven insights that improve underwriting and overall profitability. In turn, fleet managers get the necessary fleet management tools that positively influence driving behaviour. It’s a win-win proposition for all involved.”