A new affinity deal inked by FleetCheck could help fleets lower insurance costs by proving they represent a better risk.
The fleet software specialist has tied up with Shrewsbury-based broker 1st Choice Insurance to identify fleets that are managing risk well and producing good results, as shown through FleetCheck’s software.
Callum Watkins, managing director at fleet broker 1st Choice, said: “The insurers with which we work are looking for fleets that represent a lower-than-usual risk. They want to build a client base of businesses that are controlling their risk successfully through a defined and effective strategy.
“The fact that a business is a FleetCheck customer and has sufficient interest in risk to buy software in order to manage it is a good sign for insurers, but the crux is being able to produce information that shows how well this is working.
“Of course, this won’t feed through into premiums immediately but we are generally able to offer rebates to fleets in year one based on their performance and also help them to contain costs over the longer term as we build a picture of their risk through data.”
The two firms will work together to build a joint client base that is recognised as a high-quality ‘book’ of fleets by insurers, and who will receive preferential treatment, including lower premiums, as a result.
Peter Golding, managing director at FleetCheck, said the tie-up would help its fleet customers better understand how to improve their risk profile as part of its Affinity Services programme.
“The objective of working with our affinity partners is normally to help our software client base access better services and rates than their current supplier but with 1st Choice, a key part of the arrangement is to help fleets better understand their risk profile.
“Most fleets have seen an increasing cost of claim, based on factors that are largely out of their control such as general inflation and rising cost of vehicle repairs, but much can be done to mitigate premium increases through advice on how insurers perceive risk.
“Effective strategies for reducing insurance costs can range from enhanced safety measures and changes in your fleet composition through to improved driver retention rates and enforced driving standards, all of which can be achieved with the help of our software.”
FleetCheck’s Affinity Services programme, created in 2020, offer its 2,000+ client base access to a range of discounted and enhanced services from essential fleet services firms.
