How Tech Agnostic Fleet Risk Data Improves Customer Experience

With 72% of drivers looking to see more innovation in customer experience from insurance brands in the next 1-2 years, it’s time for fleet insurers to put their feet on the pedal and embrace new data solutions for risk management. 

As a fleet insurer, you’ll know that every Telematics Service Provider (TSP) and Original Equipment Manufacturer (OEM) scores driver behaviour using their own unique algorithm, making it difficult for you to get an accurate view of risk across your book and provide a better experience for your customers. Well, the good news is that thanks to SmartLink’s tech agonistic fleet risk data, fleet insurers like you can now start to rethink the traditional obstacles to setting up successful telematics-based schemes.

But – what exactly are the implications for your customers, and why does having tech agonistic data with SmartLink make such a difference? In this post, we’ll look at how this approach can improve your customer experience, and likely your retention rates.

Streamlined onboarding process

Without a need to mandate telematics, customers can rely on having no installation costs or downtime for their fleet. SmartLink will simply take telematics data from a fleet’s existing provider, then normalise and score it on a single algorithm. As well as enabling you to create a unified benchmarking system and overview of driver risk, this allows you to avoid customer service issues relating to the installation and ongoing maintenance of mandated kit.

Improved service offering and increased loyalty

It’s not always easy for fleet insurers to find ways to add value to their offering in such a competitive market, but imagine that with a single solution, you could pull telematics data via API from 30+ TSPs & OEMs – this could make a significant difference to the quality of your service offering and provide value-add opportunities!

Many insurers using SmartLink are already building customer loyalty and improving their retention rates by offering additional services, for example running quarterly risk insight sessions and sharing key benchmarks with their fleets, and there are plenty of other avenues to explore when it comes to using this data in creative and competitive ways. Customers will therefore see the benefits of creating a long term partnership with an insurer that can help facilitate and support improvements in their risk management processes.

Better pricing schemes 

According to a recent survey, 91% of insurers regard usage-based insurance pricing as positive for the industry, and with SmartLink, insurers will be able to offer fairer and more flexible usage and behaviour-based pricing schemes, which also reward safer driving. Pay How You Drive (PHYD) schemes become instantly more feasible with the use of a system like SmartLink, as it will use consistent data to determine risk and will therefore allow you to establish a clear baseline.

Discover SmartLink benefits

In the market for a tech agonistic fleet risk data solution? Below, we’re outlined some of the additional benefits that SmartLink can bring to your insurance firm as a whole.

  • Pull telematics data via API from 30+ TSPs & OEMs
  • Score driver risk in the same way across all fleets
  • Get an immediate view of historic driver risk
  • Identify high risk fleets currently on cover
  • Automate pricing decisions
  • Offer Usage-Based and Pay-How-You-Drive schemes
  • Measure the impact of your risk management strategies

So, do you think your customers could benefit from SmartLink’s tech agonistic data approach? If you’re interested in getting started, don’t hesitate to get in touch with us directly on 0161 441 1001. You can also get a quote here.