How vehicle camera systems reduce fleet insurance premiums

Posted 14 Sep 2022

Your camera system the independent witness

Your record of loss or ‘claims experience’ influences the premium you as a fleet operator pay to insure your fleet. The introduction of fleet safety policies and technologies to reduce the frequency and severity of claims can help keep insurance premiums under control and at a manageable rate.  

To achieve lower claims and defend against fraudulent ones, fleet operators are rapidly adopting vehicle mounted camera systems to act as an ‘independent witness’ of road incidents.

6 ways vehicle camera systems improve your fleet risk insurance profile: 

  1. 360-degree driver visibility: Externally mounted vehicle cameras can eliminate driver blind spots and give them a complete in-cab view of their surroundings via a monitor.  
  2. Early collision warning system: Embedded artificial intelligence (AI) can detect pedestrians, cyclists, vehicles, and other hazards alerting drivers rapidly to danger.
  3. Driver condition self-awareness: Deep learning technologies can recognize when a driver is distracted or suffering from fatigue and alert them.
  4. Driver coaching: Video footage of real road incidents is captured and shared in real-time with fleet management and can be used to support effective personalized driver coaching. 
  5. Independent witness: The camera system auto captures any road incident and shares the footage with fleet management in real-time providing indisputable video evidence. Meaning liability can be quickly determined.
  6. Electronic First Notification of Loss (eFNOL): The efficiency of eFNOL (supported by a smart vehicle camera system) reduces the time insurers need for evaluating claims, and the insured losses decrease. 

Streamlining claims processing with digital video evidence

The growing prevalence of ‘crash-for-cash‘ mean that being able to refute false claims is more important than ever. With your independent witness it means you can address insurance claims rapidly and avoid incurring unnecessary costs and increased renewals.  

Drivers are empowered with greater in-cab visibility and the latest AI collision avoidance technology reduces the frequency and severity of road incidents. Which gives fleet operators and drivers peace-of-mind, as the collection of incident related evidence is automated. 

The rapid sharing of video evidence of incidents electronically with insurers means that they can develop better informed risk profiles of your fleet, passing on savings to you where appropriate and expediting the claims process.