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PROPERTY & CASUALTY
DEC 15, 2021
Construction Policyholder Sees Benefits of Commercial Fleet Usage-Based Insurance Program
D&D Building in Grand Rapids, Michigan, began its journey in 1968 as a maintenance company. Since then, the organization has evolved to employ over 120 workers and execute on Midwestern construction projects.
To effectively deliver on its service offerings, D&D has 12 commercial vehicles on the road, carrying tools, equipment, and materials, including semi-box trucks, medium-duty trucks, and one-ton cargo vans.
When approached two years ago to consider Amerisure’s commercial fleet usage-based insurance (UBI) pilot program in the state of Michigan, the offer stood apart from other companies, said Jim Wyatt, vice president of D&D Building.
“The history and comfort level with Amerisure made us feel confident in pursuing the recommendation to leverage usage-based insurance technology for our vehicles,” said Wyatt.
To participate, a simple electronic device is installed in the fleet vehicle. Driving data is filtered through a machine learning program and displayed on a performance dashboard to be analyzed. As part of a long-term partnership with HUB International Midwest Limited, Amerisure enrolled D&D in the program.
The program is extremely impactful for policyholders, said Tyler Harmon, senior vice president at HUB International Midwest Limited. “There are a number of proactive benefits of the fleet program in addition to cost savings: first and foremost, it establishes and solidifies a culture of safety,” said Harmon.
“For D&D, participation in the program communicates to their drivers they have made an investment they are focusing on and are prioritizing safety as a key metric, helping to ensure each of their drivers gets home safely each day.”
The program has yielded many distinct benefits for D&D: It creates driving efficiencies as the company can identify the exact location of its vehicles and establish the most effective routes. It monitors driver behaviors, establishing a heightened awareness for drivers while in the vehicle and allowing leadership to address drivers who may need improvement. The real-time data helps provide arrival estimates to customers when workers are on the road with supplies. It also helps provide reporting details in the event of a traffic incident, including whether the vehicle was parked or at what speed it was traveling.
“Everything about our experience with Amerisure’s usage-based insurance program has been positive,” said Wyatt. “We’ve saved money, we know where our drivers and vehicles are, and we can distinguish any issues that might arise with our fleet. I am also able to nullify any inaccurate reviews of our drivers and brand by pinpointing their location and differentiating them from other companies on the road.”
Participating policyholders receive a three percent discount from Amerisure upfront and can qualify for a discount of up to 15 percent based on fleet performance at the end of their policy period. “By offering the program without an added cost, Amerisure removes any unknown financial hurdles,” said Wyatt.
The program provides added peace of mind for policyholders in today’s environment, said Harmon. “The return on investment from this type of program can be seen from day one, and it impacts premiums in the long term,” said Harmon. “The program provides overall fleet management efficiencies, allowing policyholders like D&D to address critical components and extend the life of their vehicles, contributing to the bottom line and reducing expenses. The information provided allows for in-depth training and analysis on where policyholders need to spend time, energy and effort in order to further influence positive driving behaviors at their company.”
Amerisure’s risk management team helps to ensure the program will optimize efficiencies, said Harmon. “Due to our intrinsic partnership with Amerisure, we can implement this type of value-added program for policyholders, which will immediately impact their bottom line while driving long-term improvements around driver behaviors – including lower cost of claims and improved loss ratios, which results in reduced premiums for our policyholders. The ongoing implementation of this program allows for enhanced training around key performance metrics, improved claims efficiencies, and more impactful loss control services, which collectively support the policyholder’s overall business objectives.”
D&D Building has re-upped in the usage-based insurance program for the coming year.
“We look forward to participating and saving again this year and seeing informative data come through,” said Wyatt.
Amerisure’s commercial fleet usage-based insurance program is expanding offerings in 2022. To learn more and see whether your state is participating,
contact an Amerisure partner agent