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“[Fleet owners that] use telematics technology right will benefit. They’ll see it in their bottom line, and they’ll see it in their insurance premiums.”
“Fleets need to understand what data is pertinent for them and to understand the risks associated with their fleet and drivers and then find ways to improve performance.”
While the use of telematics-based insurance to date has primarily been seen in monitoring personal-vehicle use, insurers are increasingly relying on the underwriting tool in the commercial-fleet and trucking industries.
Higher non-catastrophe weather-related losses and higher-than-expected losses associated with auto bodily injury weighed on results.