How can commercial insurers improve loss ratios while delivering value to fleet customers?
The commercial lines challenge
Commercial lines insurers continue to face significant underwriting pressure. Adverse loss frequency and loss severity trends are pushing combined ratios well above profitable levels.
Distracted driving and rising accident costs are key drivers which leading to rate increases to maintain profitability. But they risk alienating cost-conscious fleet customers.
Driving insights to reduce loss ratios
Telematics data and UBI programs offer a proven alternative to rate increases alone. Implementing a commercial Usage-Based Insurance program enables insurers to accurately price risk while delivering tangible value to fleet customers. The result is improved profitability without sacrificing customer relationships.Our IMS Commercial Usage-Based Insurance (UBI) & Telematics solution provides commercial lines insurers with the industry’s most comprehensive connected insurance solution, satisfying the needs of the insurer, fleet manager, and fleet drivers alike.
These tools enable insurers to engage and retain customers while accurately assessing fleet risk and building profitable books of business.
Drivers receive real-time feedback to continuously improve safety and fleet managers can measure driver performance while influencing safer driving behaviors. This leads to measurable cost savings through reduced loss ratios and improved UBI program performance.
