April 24, 2023
Director, Insurance Partnerships
Every year, the American Transportation Research Institute (ATRI) puts out a report that details the operational cost of trucking. ATRI's latest update contains a blockbuster finding: The cost of trucking has increased to $1.855 per mile, the highest level in the report's 15-year history.
It's not just the cost of fuel, labor, and vehicles that fleet managers need to grapple with. Insurance costs are also a major cost that's on the rise. According to ATRI, premiums for commercial fleets have gone up 47% over the past decade, and show no signs of dropping anytime soon.
To mitigate the rising cost of insurance, fleets are taking advantage of partnerships between technology providers like Samsara and insurance carriers. Samsara currently works with the majority of top insurers to offer unique safety programs and provide preferred pricing for mutual customers. In turn, fleets can realize a range of positive outcomes, from lower accident rates to discounts on premiums and equipment. In fact, Samsara customers who are referred by an insurance partner receive a 15 to 25% discount.
Read on to learn more about three key benefits fleets can get from working with Samsara and our insurance partners to build a safety program.
Commercial trucking and insurance are vastly different sectors, but they have one big thing in common: a steadfast commitment to keeping people safe. With Samsara, insurers work with fleets to help them see considerable real-world safety gains.
eMaxx Assurance Group, a captive insurance solution provider based in Massachusetts, is helping its customers do just that. F&H Contractors, a specialty contractor for utility companies throughout Florida, wanted a better way to monitor driver safety and increase visibility into their fleet operations. When F&H opted to join the eMaxx insurance captive, F&H installed Samsara AI Dash Cams in all of their vehicles. As a result, F&H realized a 50% reduction in accidents. "It’s staggering what an improvement we’ve had, how much of a difference this has made financially and safety-wise," said Mike Giddens, fleet manager at F&H.
BLS Company—a luxury chauffeured transportation provider—worked with their insurance carrier, RLI, a Samsara partner headquartered in Illinois, to achieve similar gains. BLS wanted to increase fleet safety and identify opportunities to save on their insurance premiums. With RLI and Samsara, BLS saw a 60% reduction in harsh braking, a 14% decrease in speeding, and a 5% reduction in insurance premiums.
“The collaboration between the RLI Transportation Loss Control team and Samsara enables us to offer a unique benefit that enhances overall driver safety," said Mike Haswell, Vice President of Business Development and Retention at RLI. "BLS is an outstanding example of a customer that is utilizing the camera and telematics program, along with tailored recommendations and training, for improved loss control results."
Safety improvements can have a big impact on a fleet, but the improvements that come with using Samsara to speed up and automate manual processes can be just as dramatic. For example, F&H has been able to use Samsara In-Cab Nudges™, where drivers get automatic alerts to correct certain behaviors rather than needing to wait for a call from a supervisor, to streamline driver coaching.
RLI and BLS have also used Samsara to make coaching more relevant. Over the course of a year, RLI was able to quickly develop over 50 customized safety trainings for BLS employees using real-life examples from their fleet. These highly focused trainings have helped BLS achieve their safety goals and improve driving outcomes organization wide.
Finally, if an incident does occur, insurance claims can be processed much faster, or avoided altogether. In one recent example, a driver sideswiped an F&H vehicle and supervisors were able to send video footage of the incident to the police at the scene. As a result, the driver was quickly exonerated.
Lower insurance premiums are important, but as the complexity of telematics, AI Dash Cams, and other Connected Operations™ technology grows, fleets also need trusted partners that can advise them on what technologies to use—as well as incentivize adoption. A recent survey by Penske found that price was the number one selection factor in deciding which telematics solution to use. As such, insurance offerings like subsidies and discounts can help significantly accelerate adoption.
For example, RLI gives BLS a premium discount for using Samsara, a fact that helped the company drive adoption. However, BLS also appreciates the peace of mind that comes with using a pre-vetted solution. “It was really a no-brainer to onboard this technology," said Eric Okon, Chief Operations Officer at BLS. "If RLI vouches for a company, we tend to go in that direction."
F&H's Giddens agreed. “We’re proud to partner with the best of the best," he said. "Samsara has provided tools we didn’t even know were available before, and our eMaxx captive group helps us discover them.”
Working with Samsara for your fleet safety program sets the stage to improve safety and business efficiency, all while helping your fleet set itself apart with best-in-class telematics, video-based safety, reporting, and other solutions. Read more about the insurers who partner with Samsara today. Or, you can check out The Samsara Guide to Fleet Safety to learn more about how to build your safety program from the ground up.