By effectively harnessing in-cabin (driver-facing) cameras and dash cams, fleets can demonstrate to insurers they are controlling various risks, while also identifying other ways to optimise vehicle performance. Learn more, with our guide.
Insurance premiums are one of the biggest costs associated with running a fleet of any kind, be that a haulier, courier, or transport provider. With this in mind, it makes sense for today’s fleet managers to bring down the cost of cover in any way that they can.
In recent years, on-board camera technology has presented a powerful way to reduce perceived risks associated with managing a fleet. And lower risk in the eyes of insurers can result in lower premiums.
In this article we’ll explore how you might harness such systems, and improve your fleet’s bottom line.
Evidence in accident claims
For insurers, one of the biggest overheads is the time and resources spent on trying to work out which party was to blame for a particular accident. Dashcams and onboard cameras can provide clear evidence in the event of an accident, helping to prove fault and prevent fraudulent claims.
The presence or use of dashcams reduces the likelihood of the insurer paying out for false or exaggerated claims.
Improved driver behaviour
When humans know they are being observed, they tend to act more diligently. With this in mind, the installation of on-board cameras encourages safer driving practices, as drivers know their actions are being recorded.
Speeding, harsh braking and aggressive driving, are all considered to be risk factors for accidents. Driver fatigue is another risk factor - one that can be mitigated by camera-based technologies such as AI-assisted driver drowsiness detection.
However, by law, drivers (and passengers, if applicable) must be informed they are being recorded, and be told how any footage might be used and stored. Drivers can be informed of this information by way of written policies and signage, for example. And under the UK GDPR, drivers have the right to request access to this footage.
There must also be a lawful reason to make such recordings - e.g. to improve safety levels. Cameras must also be installed in a manner that does not obstruct the view of the road.
Lower risk profile
Risk is at the heart of all insurance provision. Insurers view fleets with cameras as lower risk, as they demonstrate proactive risk management. This can result in discounted premiums, or more favourable insurance terms.
Faster claims resolution
In the days before video evidence - as made possible by in-cabin cameras, dash cams and CCTV - it was much more time consuming and resource-intensive to determine which party was at fault. Today, however, the existence of video evidence means that the claims process can be much quicker, by providing clear and indisputable facts.
Such technology reduces administrative costs for insurers, which can be reflected in lower premiums.
Reduced accident rates
Cameras help identify and address risky driving behaviour by empowering fleet managers to monitor drivers, and then provide feedback as necessary. If a driver has been involved in several ‘near misses’, for example, steps can be taken by management to address undesirable driving habits - such as spending, harsh braking, or risky manoeuvres.
Ultimately, fewer accidents mean fewer claims, which can lead to lower insurance costs over time.
Training and development
Ongoing training and career development is central to ensuring drivers exhibit safe driving techniques. Footage from cameras can be used for driver training, helping to improve skills and reduce the likelihood of accidents.
Having access to real-world examples of risky situations or behaviour can make the learning process much more engaging and effective.
Well-trained drivers are viewed as lower risk by insurers, which, once again, can have knock-on benefits in terms of lower premiums.
Theft prevention
The cost of replacing stolen or vandalised vehicles or cargo can be extremely high, so any measures that minimise the chances of such losses will be viewed positively by insurance providers.
Some insurers offer discounts for vehicles equipped with anti-theft devices, including cameras.
Monitoring vehicle maintenance
Exterior cameras may be able to identify issues with things like tyres, lights and body wear and tear. Internal cameras, meanwhile, may be able to pick up dashboard warning lights and other issues. With such information to hands, repairs can be affected more quickly than they otherwise would.
Since well-maintained vehicles are less likely to be involved in accidents caused by mechanical failures, this kind of monitoring is something insurers like to see.
Regulatory compliance
Cameras can help ensure compliance with driving hours and safety regulations, reducing the risk of fines or penalties.
Being able to demonstrate compliance in these regards can improve a fleet’s standing with insurers.
Real-time alerts
Advanced camera systems can provide real-time alerts for dangerous driving behaviours, allowing immediate corrective action on the part of fleet managers.
Insurers like to see proactive risk management, which can lead to lower insurance costs.
Reduced liability in disputes
Video evidence, such as provided by dashcams and in-cabin cameras, can help protect your fleet from liability in disputes over accidents or incidents. This can help reduce the risk of costly legal battles and insurance payouts, and minimise time and resources spent on resolving such issues.
Insurer discounts for camera-based telematics
Some insurers offer partnerships or discounts for fleets that use telematics and camera systems.
Improved fleet management
Efficiency savings are of key concern to the highly competitive fleet industry. As such, cameras can provide valuable data on driver performance and vehicle usage, helping to optimise fleet operations and improve bottom lines.
What’s more, efficient fleet management reduces overall risk, which can have positive implications in terms of insurance costs.
In conclusion
By implementing camera systems such as in-cabin cameras and front-and-rear dash cams, hauliers, delivery firms and transport providers can not only improve safety and efficiency but also significantly reduce their fleet insurance costs over time.
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