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SOURCE ProSight Specialty Insurance; SmartDrive Systems
ProSight Selects SmartDrive® Systems as the Company's Partner in Delivering SecureFleet(SM) Exclusively to ProSight Long Haul Trucking, Charter and School Bus and Taxi Customers Nationwide
MORRISTOWN, N.J. and SAN DIEGO, June 18, 2014 /PRNewswire/ -- ProSight Specialty Insurance® ("ProSight"), a leader in providing responsive insurance solutions for the transportation industry and SmartDrive® Systems ("SmartDrive"), a leader in driving performance solutions that reduce collisions and improve fuel efficiency, today announced SecureFleet?, a complimentary* risk management solution developed exclusively for ProSight niche transportation customers. Debuting as the insurance industry's only fully integrated video event recorder and risk reduction service offered complimentary with ProSight coverage, SecureFleet combines a patented vehicle data and video event recording system with a comprehensive driver coaching program to help fleet owners and safety managers reduce risks, reduce costs and better manage fleets.
SecureFleet is part of ProSight's ongoing commitment to provide innovative solutions that go beyond traditional insurance products to focus on unaddressed customer needs. Unlike other discounted telematics or event recorders offered by insurance providers, SecureFleet stands alone as the only partnership between an insurance company and its customers to reduce risk with a complimentary video based safety system and driver coaching service. When compared to retail pricing for event recording equipment and accompanying service, SecureFleet offers an average savings of over $950 per vehicle in the first year.
"We developed SecureFleet to help our customers make their fleets safer, more efficient and profitable. No one else in the industry has combined insurance with telematics, event recording technology and driver coaching as we have with SecureFleet," said Darryl Siry, Chief Marketing and Communications Officer, ProSight Specialty Insurance. "ProSight selected SmartDrive Systems to co-develop the insurance industry's most comprehensive and customer-focused risk management solution for transportation fleets helping owners and fleets ultimately improve the bottom line."
"We are proud to partner with ProSight, embracing the convergence of insurance and safety technology to offer the industry's first fully integrated insurance and video based safety program for commercial fleets," said Steve Mitgang, CEO of SmartDrive. "SecureFleet is an innovative new approach, leveraging our proven program to measurably reduce risk while driving significant improvements in fleet operational performance. We are excited to have been selected and look forward to the value this solution will bring ProSight customers."
ProSight Customers Realize Significant Benefits with SecureFleet
For the first time in the transportation industry, SecureFleet allows transportation companies to minimize their risk on the road by focusing and improving each driver's specific driving skills. The state-of-the-art system provides exception-based event recording and individualized coaching which helps eliminate unsafe driving based on the driver's actual and visible driving, and over time can improve the risk profile of the company by reducing claims. Driver coaching can also be effective in increasing a fleet's fuel efficiency and reducing maintenance costs as driving skills improve. In addition, SecureFleet can also dramatically reduce the significant soft costs of accidents and claims such as diverted management attention, risk to brand, decreased driver and employee morale, higher legal costs, reduced customer satisfaction and loyalty, and more.
The SecureFleet Model – A Continuous Cycle of Fleet Improvements
SecureFleet is managed by a dedicated team of ProSight and SmartDrive representatives that are committed to helping customers realize the many benefits of the complimentary service, while ensuring best practices across fleets are shared and that customers are using systems effectively. The SecureFleet model is represented in a continuous cycle of fleet improvements that begins with the capturing of risky events based on:
When a risky event is identified, the system is designed to capture ten seconds before and after the incident. The SecureFleet team wirelessly reviews each event and scores and prioritizes it for coaching. Fleet managers then coach drivers on the riskiest events identified that drive up costs and impact safety. In addition, safety and fuel economy are tracked at the driver level and benchmarked across sites and fleets to help transportation companies understand areas where more optimization is possible and where less obvious but extremely risky driving exists.
Exclusive Access to SecureFleet
SecureFleet is accessible to the Taxi, Charter Bus, School Bus and Trucking transportation segments via ProSight's exclusive distribution partners. ProSight's core business strategy is based on the notion of building exclusive partnerships with quality industry experts to foster success for its customers. ProSight's partners share the common vision to make a recognizable difference for transportation businesses by providing prompt, reliable, experienced, innovative and competitive services and solutions, specifically designed for this transportation niche. Transportation customers can learn more about SecureFleet by visiting, http://www.prosightspecialty.com/securefleet.
Following are ProSight's exclusive distribution partners for SecureFleet, along with more information on each program-specific SecureFleet offering with cost savings analysis:
Taxi – American Business Insurance Solutions
School Bus – All Trans Risk Solutions
Charter Bus – KF&B, Inc.
Trucking – American Underwriting Services
*All service and unit costs are borne by ProSight except installation costs and a $50 annual connection fee per vehicle; approximate installation cost per vehicle is $95-$195
ProSight Disclaimer: This material includes information based on past performance of fleets utilizing the dash-cam unit and does not take into account your personal circumstances or objectives. Any information set forth herein related to past performance does not guarantee future results. Results may vary based on utilization, fleet size, driver actions and other factors. Eligibility for SecureFleet not guaranteed and subject to ProSight and SmartDrive eligibility criteria.
About ProSight Specialty Insurance
ProSight Specialty Insurance was founded by CEO Joseph Beneducci in 2009 and is backed by affiliates of TPG Capital and GS Capital Partners. ProSight Specialty Insurance focuses on niche markets where it has differentiated underwriting and claims expertise and partners exclusively with specialist distributors who have a deep understanding of their customers. More information about ProSight Specialty Insurance can be found on its website at http://www.prosightspecialty.com.
About SmartDrive Systems
SmartDrive Systems gives fleets and drivers unprecedented driving performance insight and analysis, helping save fuel, expenses and lives. Its video analysis, predictive analytics and personalized performance program help fleets improve driving skills, lower operating costs and deliver significant ROI. With an easy-to-use managed service, fleets and drivers can access and self-manage driving performance anytime, anywhere. The company has compiled the world's largest storehouse of more than 70 million analyzed risky-driving events. SmartDrive Systems is based in San Diego, Calif., and employs more than 400 people worldwide.
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