COLUMBUS, Ohio--(BUSINESS WIRE)--Insurance carriers and commercial fleets have had difficulty managing rising insurance costs. A new partnership between Nationwide and Idelic is looking to change that.
Nationwide is partnering with Idelic to help fleet drivers become safer, lower losses and take control of their insurance premiums.
The partnership gives Nationwide commercial fleet customers discounted access to the Idelic Program, the leading driver performance management and risk prevention program, to help fleets identify risky driver behaviors and coach their drivers to improve safety, resulting in a reduction in preventable crashes and losses.
Idelic’s Safety Suite aggregates fleet data to identify risky driver behaviors. According to Idelic, this data combined with an industry best-practice Driver Safety Playbook, has helped reduce accident rates by more than 52%. Idelic customers are seeing an average reduction of more than 20% within the first year of using the program.
“The power of Idelic’s Safety Suite is clear: motor carriers can harness and leverage large amounts of data already being collected and create actionable insights that reduce risk for their fleet,” said Gary Flaherty, senior vice president of E&S Commercial Auto at Nationwide. “Our partnership extends our already deep reach into the data-driven world that will translate into even safer fleets. Our dedication to protecting businesses with extraordinary care is boldly stated with this new partnership.”
The transportation industry has a multitude of data sources to help improve and evaluate safety, but it has proven to be a significant challenge to use that data effectively to benefit insurance underwriting.
By leveraging the comprehensive data set enabled by Safety Suite®, fleet owners can flag drivers who may be at-risk for a preventable accident. From there, fleets can proactively assign targeted training, track professional development, and improve driver engagement – all of which help reduce accidents and incidents and ultimately achieve lower premiums.
“Idelic’s proprietary AI powered view of driver risk in Safety Suite, coupled with a prescriptive approach to driver coaching through the Idelic Driver Safety Playbook is changing the game for fleets wanting to improve their insurance outcomes,” said Hayden Cardiff, Founder, Idelic. “This partnership with Nationwide demonstrates the value of the Idelic Program as a promising solution for their fleet customers to help lower losses and improve their risk profile at the time of renewal.”
Nationwide’s E&S commercial auto customers will have the opportunity for reimbursement on the cost of Safety Suite at policy renewal. They’ll also benefit from personalized underwriting for their new policy based on a 360-degree view of their fleet’s performance.
To learn how using Safety Suite can help improve fleets’ insurance outcomes, visit the Nationwide partnership page.
Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the United States. Nationwide is rated A+ by both A.M. Best and Standard & Poor’s. An industry leader in driving customer-focused innovation, Nationwide provides a full range of insurance and financial services products including auto, business, homeowners, farm and life insurance; public and private sector retirement plans, annuities, mutual funds and EFTs; excess & surplus, specialty and surety; and pet, motorcycle and boat insurance. For more information, visit www.nationwide.com. Follow the firm on Facebook and Twitter.
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Idelic is focused on driving the best possible insurance outcomes for the transportation industry through the combination of process and technology. Combining the Idelic Driver Safety Playbook with Safety Suite®, the first end-to-end driver performance management platform, Idelic helps consolidate your existing driver data and systems into one streamlined platform, analyze it with proprietary machine learning models, and take action on hidden insights. Our advanced AI-based Driver Watch List, combined with a robust integration network and proven driver training plans, makes the Idelic program the most proactive and effective way to lower insurance costs, decrease liability, prevent crashes, and reduce turnover.