As fleet managers seek new ways to use technology to improve driver behavior, fuel efficiency and overall performance, The Hartford Financial Services Group, Inc. announced today that it will offer its FleetAheadSM risk management program to commercial fleet customers with loss sensitive insurance programs.
FleetAhead integrates vehicle telematics offered by several preferred providers with specialized loss control services and customized reports to help fleet managers identify ways to reduce risky driving behavior and lower vehicle operating costs.
“As commercial fleet owners increasingly use in-vehicle technology to capture data related to driving behavior, fuel efficiency and vehicle performance, they are seeking guidance on analyzing the data,” said Kevin Finn, vice president of The Hartford’s National Accounts. “With FleetAhead, we’re able to assist commercial fleet customers in their efforts to translate data into actionable plans that help them control their total cost of risk.”
The FleetAhead program is designed to help:
Measure specific driving risk in an efficient manner through the use of telematics technology chosen by the insured.
Coach fleet and risk managers on incorporating driving behavior data into risk management programs and help address issues in a positive, constructive manner.
Improve fleet performance through programs to help mitigate risk and lower vehicle operating costs.
During a six-month market test, FleetAhead helped a regional beverage distributor reduce risky driving behavior in a fleet of more than 100 vehicles by 75 percent, which helped increase fuel efficiency by nearly 7 percent — about $300 per vehicle — and reduce accident costs by 80 percent.
Preferred telematics providers for FleetAhead include DriveCam, Inc., a global driver risk management company that specializes in video-based telematics, and the Evogi Group, a premier provider of vehicle insurance telematics capabilities. Additional providers are expected to join The Hartford’s platform during the next several months.
More information about FleetAhead is available at www.fleetahead.com or at The Hartford’s booth #201 at the Risk and Insurance Management Society’s (RIMS) 2011 Annual Conference & Exhibition in Vancouver, British Columbia, May 1 — 5, 2011.
About The Hartford
Celebrating 200 years of helping its customers achieve what’s ahead, The Hartford (NYSE: HIG) is an insurance and wealth management company. Through its unique focus on customer needs, the company serves businesses and consumers by providing the products and solutions they need to protect their assets and income from risks and manage their wealth and retirement needs. A Fortune 100 company, The Hartford is recognized widely for its service expertise and as one of the world’s most ethical companies. More information on the company and its financial performance is available at www.thehartford.com.
About DriveCam, Inc.
As a company that specializes in the science of safe and efficient driving, DriveCam prevents collisions and reduces fuel costs by improving the way people drive. DriveCam’s solution addresses the causes of poor driving by combining data and video analytics with real-time driver feedback and coaching, resulting in reductions in collision-related costs and fuel consumption in over 150,000 commercial vehicles. In addition, DriveCam has monitored and analyzed data from over 3 billion driving miles and holds the world’s largest database of risky driving, which is continually used to improve proprietary analytics and deliver insights into transportation industry trends. DriveCam was recently recognized as #30 in The Wall Street Journal’s listing of Top 50 Venture-Backed Companies. For more information, visit www.drivecam.com.
About The Evogi Group
The Evogi mission is to transform the U.S. property and casualty automobile insurance market through advanced telematics technologies and innovative information services. Evogi’s FleetDaddy provides GPS fleet tracking software and hardware solutions, service and support to several key industries throughout the United States, including transportation, services and construction. Evogi has offices in Scottsdale, AZ, Chicago, IL, Cherry Hill, NJ, and St. Louis, MO. More information about The Evogi Group can be found at www.evogi.com.
Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our Quarterly Reports on Form 10-Q, our 2010 Annual Report on Form 10-K and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.
The description herein is a summary only and may not apply under all circumstances. Coverage is individually underwritten. For a complete description of coverage terms and conditions, refer to the insurance policy. In the event of a loss, the terms and conditions of the policy issued will determine the coverage provided. Coverage is provided by the member insurance companies of The Hartford and may not be available in all states.