Using GreenRoad Data to Drive Profitable New Products
The granular data provided by GreenRoad’s Driver Behavior System allows you to offer flexible premium pricing policies that help you win and retain business – while reducing your overall risk and exposure.
Today, insurance companies have static risk models based on statistical samplings & probabilities, and fixed-premium pricing models “sweetened” with safe-driving and low-claims discounts.
However, with GreenRoad’s Personal Risk IDs and other driver behavior data, insurance companies can offer differentiating dynamic-priced products: the type of offerings that customers are requesting in today’s hyper-competitive, post-Covid era. These products benefit from:
- Dynamic risk models based on actual driving behavior, and
- Flexible premium pricing pegged to dynamic risk models
- Pay What You Risk – the ultimate “win-win”: when you peg premium prices to actual driver risk levels, you incentivize fleet managers to prioritize their safety programs. Their gain is your gain!
- A Proactive Approach to Risk Reduction: the record is clear – GreenRoad’s Driver Behavior system reduces accidents by 30%-60% and accident-related costs by even more. By encouraging your clients to use GreenRoad, you permanently reduce the frequency and severity of their accidents while enforcing compliance policies.
- Early identification of “catastrophes waiting to happen”: GreenRoad’s AI and Predictive Analytics can “mine” driver behavior data to identify employees headed for a catastrophe in time to allow effective intervention. Imagine eliminating – or even just halving – the occurrence of fatal accidents/
Contact GreenRoad to discuss how we can partner to improve safety, reduce risk and incidents and improve fleet performance across your insured companies.