Using SmartLink: Key Benefits For Fleet Insurers

As a fleet insurer, wouldn’t it be useful for you to have an accurate view of fleet risk across your entire book, based on data from one reliable tool? That’s what we thought!

SmartLink is a powerful data aggregation tool built by Matrix iQ. It allows fleet insurers to offer their policyholders a better experience by offering flexible, usage-based pricing without mandated hardware – but that’s not the only benefit. Read on to discover some of the other reasons fleet insurers are choosing SmartLink.

Why Choose SmartLink?

There are multiple benefits to using SmartLink as a way of identifying fleet risk, and not only from an operational perspective by removing the need to mandate preferred telematics. SmartLink can help you as a fleet insurer to quickly identify the highest risk fleets you currently have on cover, therefore allowing you to better prioritise your risk management efforts.

Since OEM telematics are becoming increasingly common, fleets are often found using multiple devices from different providers – which can make it difficult for you, as a fleet insurer, to identify risk and make consistent pricing decisions. But, by pulling telematics data via API from 30+ TSPs & OEMs, SmartLink can help you quickly identify high risk fleets you are already insuring, allowing you to prioritise your risk management efforts.

Top SmartLink Benefits

  • Offer more flexible, behaviour-based schemes

With a better understanding and view of risk across your fleets on cover, you can start to offer a more valuable service to your customers. Having reliable risk data to hand means you’ll be able to automate your pricing strategies and give customers better visibility of what is driving the price of their insurance, and why. 

Offering Pay-How-You-Drive (PHYD) schemes is a great way to set your insurance service apart from your competitors by providing greater transparency and supporting your customers in establishing safer driving practices. 

  • Score driver risk in the same way across all of your fleets

Since you will be monitoring risk using standardised data, each customer evaluation will be accurate and based on a benchmarked view of risk. You’ll be deemed more data-led and trustworthy, and you’ll also be less likely to find your underwriting decisions negatively impacting your loss ratio. No need to over rely on human judgement to determine your pricing any longer!

  • Get an immediate view of historic driver risk

Did you know that by running risk insight sessions, you could potentially reduce your average cost per claim by 54%? SmartLink combines telematics data from multiple providers to give you an accurate view of risk, and can also pull historic risk data to improve overall accuracy. Using our software, you’ll have almost immediate access to all of this historic data, making decisions even simpler and more reliable, and strategies more cost effective  – regardless of the number of different telematics suppliers a fleet has. 

  • Increase customer loyalty

Risk insights aren’t just useful for your insurance business; they’re great for your customers, too. Customers who can be provided with a fair price are far less likely to switch providers, and with SmartLink, your company can also offer additional value. Running quarterly risk insight sessions or sharing key benchmarks with your customers could be fantastic ways to make the most of the data that SmartLink can provide. 

Choose Matrix iQ SmartLink for Risk Identification

There is an increasing need for reliable data in fleet management, and at Matrix iQ we can help to ensure you’re always ahead of the curve. 

If you’re looking to manage risk within your fleets, the SmartLink tool is your most effective and efficient answer. Leverage the benefits of a tech agonistic data approach today by getting in touch with us directly on 0161 441 1001. You can also get a quote here.