ProSight Specialty Insurance Offers Virtually Free Integrated Video Safety Package to Fleet Customers

The New Jer­sey-based insur­er hopes this new pro­gram will slash claims, improve safe­ty and reduce costs for its cus­tomers. Fleet Man­age­ment Week­ly inter­viewed ProSight’s Trans­porta­tion Exec­u­tive, Jere­my Zot­t­neck, and Smart­Drive Sys­tems’ CEO, Steve Mit­gang, to learn the details.

FMW: Give us some back­ground on ProSight and Smart­Drive
Zot­t­neck: ProSight Spe­cial­ty Insur­ance® was found­ed by Joseph Bene­duc­ci. We are backed by affil­i­ates of TPG Cap­i­tal and GS Cap­i­tal Part­ners. ProSight focus­es on niche mar­kets and part­ners exclu­sive­ly with spe­cial­ist dis­trib­u­tors who under­stand their cus­tomers, includ­ing trans­porta­tion. This found­ing mod­el has demon­strat­ed its valid­i­ty through mar­ket lead­ing growth, loss per­for­mance and brand lead­er­ship. We have no desire to chase the broad mar­ket.

Mit­gang: Smart­Drive® is an inno­va­tor in dri­ving per­for­mance solu­tions that incor­po­rate video analy­sis, pre­dic­tive ana­lyt­ics and per­son­al­ized per­for­mance pro­gram. These help fleets improve dri­ving skills, reduce col­li­sions and low­er oper­at­ing costs, all with a sig­nif­i­cant ROI. Smart­Drive takes a dif­fer­ent approach – it pro­vides an open plat­form from the ground up to bring vehi­cle, dri­ving and active safe­ty sys­tem data togeth­er in a uni­fied view of safe­ty sit­u­a­tions. This approach also enables the pro­gram to be tuned to the spe­cif­ic needs of a fleet. Fleets save time, mate­ri­al­ly reduce risk and gen­er­ate more val­ue from their exist­ing safe­ty invest­ments.

FMW: Tell us about the com­po­nents of Secure­Fleet – what was the impe­tus behind their devel­op­ment?
Zot­t­neck: Secure­Fleet℠ is part of ProSight’s ongo­ing com­mit­ment to pro­vide solu­tions that go beyond tra­di­tion­al insur­ance prod­ucts to focus on unad­dressed cus­tomer needs. Secure­Fleet is the only part­ner­ship between an insur­ance com­pa­ny and its cus­tomers to reduce risk with a com­pli­men­ta­ry video based safe­ty sys­tem and dri­ver coach­ing ser­vice. Our cus­tomers pay only for instal­la­tion, rough­ly between $100 and 200, and a $50 annu­al con­nec­tion fee.

The ProSight/SmartDrive part­ner­ship was a result of ProSight’s exten­sive search across the telem­at­ics indus­try to iden­ti­fy a lead­ing provider of safe­ty sys­tems and soft­ware com­bined with the right infra­struc­ture and ser­vic­ing to help reduce cus­tomer risk.

FMW: What types of fleets are you tar­get­ing?
Zot­tneck: Secure­Fleet is acces­si­ble to ProSight clients in the Taxi, Char­ter Bus, School Bus and Truck­ing trans­porta­tion seg­ments via ProSight’s exclu­sive dis­tri­b­u­tion part­ners. ProSight and Smart­Drive devel­oped Secure­Fleet to part­ner with cus­tomers on a com­pre­hen­sive risk reduc­tion pro­gram designed specif­i­cal­ly for truck, bus and auto fleets with the best pro­tec­tion and cus­tomer ser­vice the indus­try has to offer.

FMW: What are clients telling you about their suc­cess with Secure­Fleet with respect to dri­ver behav­ior?
Zot­t­neck: It’s too soon to report back on the spe­cif­ic results of Secure­Fleet cus­tomers. We con­ser­v­a­tive­ly expect to see risky inci­dent reduc­tions of 25% or more in the first three months, as well as more effi­cient, safer oper­a­tions for ProSight cus­tomers.

Mit­gang: Smart­Drive tech­nol­o­gy has yield­ed the fol­low­ing cus­tomer results with the imple­men­ta­tion of the sys­tem in fleets: 70% reduc­tion in col­li­sion costs in the first year; sig­nif­i­cant improve­ment in key risk areas like speed­ing, fol­low­ing too close, cell phone usage, stop sign and seat belt com­pli­ance; and over­all improve­ment in dri­ving skills with the unique insights video. Dri­vers use the video much like ath­letes use game films to con­tin­u­al­ly improve per­for­mance.

FMW: Give use some idea of what a fleet could expect in cost sav­ings.
Zot­t­neck: When com­pared to retail pric­ing for the dash-cam equip­ment and accom­pa­ny­ing ser­vice, Secure­Fleet℠ offers an aver­age sav­ings of over $950 per vehi­cle in the first year. For a 50 char­ter bus fleet, that’s a total sav­ings of $47,500. With the Secure­Fleet℠ pro­gram in place, char­ter bus own­ers can expect to see sav­ings in the first year with even greater returns in the future. A typ­i­cal sav­ings sce­nario for a 50 vehi­cle char­ter bus fleet is shown here.

FMW: What major trends are you see­ing in this indus­try?
Mit­gang: Fleets are chal­lenged by increas­ing oper­a­tional costs, par­tic­u­lar­ly relat­ed to col­li­sions. And, while these same fleets are invest­ing in on-board safe­ty tech­nolo­gies, the infor­ma­tion that is avail­able leaves many unan­swered ques­tions to under­stand what hap­pened when an inci­dent occurred. Fleets are strug­gling to make sense of the moun­tains of data com­ing from the vehi­cle so that they can iden­ti­fy risk and pre­vent it from hap­pen­ing in the future. Video, com­bined with an inte­grat­ed safe­ty pro­gram can help bridge that gap – mate­ri­al­ly improv­ing dri­ving per­for­mance while reduc­ing costs at the same time.

Zot­t­neck: The insur­ance indus­try is embrac­ing tech­nol­o­gy in terms of both the use of telem­at­ics to man­age their fleets and telem­at­ics and oth­er tech­nol­o­gy for safe­ty and acci­dent man­age­ment. ProSight is alone in offer­ing a com­pli­men­ta­ry solu­tion to accel­er­ate these trends.

FMW: How do you set your­selves apart from your com­peti­tors; what are the key dif­fer­en­tia­tors?
Zot­t­neck: We don’t think about our busi­ness as prod­uct-based, or by lines of busi­ness. Instead, we focus specif­i­cal­ly on cus­tomer seg­ments and how we can build insur­ance solu­tions to meet the evolv­ing needs of their busi­ness­es. Our spe­cial­ist posi­tion enables us to devel­op tai­lor-made solu­tions to address spe­cif­ic cus­tomer needs that is price com­pet­i­tive and pro­vides inher­ent val­ue, where oth­er car­ri­ers would pre­fer to address the basic needs of the gen­er­al mar­ket.

ProSight only pro­vides insur­ance solu­tions in indus­try nich­es where we can tru­ly make an impact by apply­ing exper­tise and insight to help evolve the insur­ance indus­try stan­dard. Then we aggre­gate unad­dressed cus­tomer needs in a par­tic­u­lar indus­try niche and cre­ate respon­sive solu­tions that not only address their insur­ance and risk man­age­ment needs, but also can help them enhance their over­all busi­ness. This approach in the insur­ance indus­try is unheard of. It’s based on what a cus­tomer needs – not on what is just avail­able to the agent.


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