Tech Route to Managing Risk: Prevention Is Better Than Cure

Tech Route to Managing Risk: Prevention Is Better Than Cure

Regional Director for Webfleet Solutions UKI, Beverley Wise, examines the emergence of machine vision and artificial intelligence-powered camera tech in fleet risk prevention

Telematics insights, along with developments in integrated camera systems, have long been used by transport managers to help manage and improve road safety. From an insurance perspective, the technology has also had an important role to play in risk profiling and helping to underwrite fleet policies more accurately. 

The world of fleet tech, however, never stands still. The latest innovations in video telematics are raising the bar in safety management and catapulting the fleet insurance industry into a new era of cost control.

Solutions can now offer more than just a First Notification of Loss (FNOL) after road incidents to accelerate the claims process. WEBFLEET Video uses the latest in connected dashcams, powered by Lytx, to help identify and mitigate risky behaviour and generate what is being hail as a First Notification of Risk (FNOR).

Machine vision capabilities of in-vehicle dashcams enable the analysis of images and video data to “see” and recognise objects and driver behaviours, such as distracted driving and mobile phone usage. Artificial intelligence technology then learns from the data to interpret what the machine vision sees.

The power of actionable data

Fleet managers can use FNOR to take a more proactive approach to managing driver safety, using video evidence for driving training programmes that are even more tailored, or to underpin reward initiatives that recognise good driving behaviour.

Where FNOR data is shared with insurance companies, fleet risk, premiums and costs can be proactively managed. Real-time visual and audio alerts, meanwhile, enable drivers to self-correct their risky driving behaviour and develop safer driving habits.

Such a progressive approach to risk prevention will not only help fleets realise significant SMR (service, maintenance, and repair)and insurance savings when they need them most, but it will help reshape the future of fleet risk strategies.

Transport and Logistics Magazine | The Home of Transport Industry News

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