Global insurance and reinsurance broker Aon, has launched a new platform to help motor fleet operators understand where risk is within their fleet.
The new platform, which is called Fleet Risk Intelligence, aims to reduce accidents, improve operations and reduce costs.
According to the broker, the platform provides actionable insights to fleet operators and drivers through an analysis based on datasets.
In addition, the platform will utilize vehicle telematics, such as GPS and acceleration/speed, along with real-time weather patterns and contextual road data in order to build proprietary models using artificial intelligence and machine learning.
As a result, this will provide users with a greater understanding of their risk profile.
Furthermore, Aon noted that Fleet Risk Intelligence’s insights can help bridge the gap between fleet operations and underwriting, ultimately establishing a new era of collaboration between carriers and their insureds by leveraging data to drive mutual outcomes.
It is important to note, that this collaboration will be able to help fleet operators and their insurers focus on reducing losses, while also improving safety and driving profitability.
Curtis Scott, executive vice-president of future mobility and digital economy practice at Aon, commented: “The way goods and people are being moved is rapidly shifting, which poses new challenges for insurers in the commercial motor sector. One of the things success now hinges on is mastering the art of data-driven strategies and bespoke risk management. Aon Fleet Risk Intelligence blends client, carrier and geospatial data to equip businesses with the actionable insights they can leverage to help rein in costs, while focusing on growth and operational performance. It’s a new era of smart decision-making.”
James Cowen, chief commercial officer at Aon Growth Ventures (future mobility), said: “The challenges faced by fleet operators and insurers are closely intertwined. By equipping both parties with the necessary tools to utilise mobility data most effectively, we can significantly improve risk profiles and, most importantly, reduce accidents. For insurers, Aon Fleet Risk Intelligence enhances their understanding of fleet risk profiles, allowing them to offer pricing with greater confidence.
“Initially developed and launched in the UK, this represents a significant milestone for the British motor-tech sector, positioning Aon and the UK at the forefront of industry innovation and critical transformation.”
