Equitrack, Equity Red Star’s in-vehicle management solution is designed to enhance vehicle and driver safety whilst helping vehicle operators reduce their running costs. The proposition is based upon innovative in-vehicle technology which combines vehicle management and driver performance reporting capabilities.
Equitrack is available to vehicle operators across a variety of sectors including motor fleet, bus and coach, taxi, minibus and commercial vehicles. It gives vehicle operators the data and insight necessary for them to take action to improve vehicle and driver safety and to increase vehicle productivity. Helping to reduce vehicle crashes and therefore contain insurance costs as well as vehicle operating costs will allow brokers to demonstrate their value to clients and aid their renewal retention levels.
Equity Insurance Group’s CEO Ian Foy believes it is an excellent opportunity for brokers to help customers embrace leading technology to drive down all aspects of vehicle running costs and promote road safety, including helping to meet customers’ requirements under the Corporate Manslaughter Act 2007.
Mr Foy said: “Initial reaction to Equitrack from our brokers and their customers has been very positive. This is technology being applied in a highly pragmatic way to the commercial motor market. Many of the brokers we are speaking to recognise that Equitrack has the potential to deliver dividends in terms of client operational efficiencies as the information it provides helps drive down both costs and claims.
“Because Equitrack is a flexible solution from a panel of suppliers it can be tailored to suit unique customer requirements. For example, a fleet manager can use the solutions to track the location of drivers and ensure that their drivers are aware of their driving behaviour on the road. Increased awareness leads to safer driving, improved fuel efficiency and ultimately reduces exposure to vehicle crashes. This is achieved through full driver behaviour reporting that can include online driver scoring or in-vehicle driver alerts following events such as excessive braking and cornering.
Equity can use the Equitrack videos and telematics data in the claims management process to defend against fraudulent or exaggerated claims and to allow the Claims team to make liability decisions quickly and accurately.
Equity has been able to negotiate exclusive concessions on Equitrack’s in-vehicle systems that are passed in full onto the vehicle operator. Equitrack is a combination of in-vehicle information and video camera solutions supplied by leading technology providers. RoadHawk providing camera technology for vehicles.
To recognise vehicle operators’ commitment to improving driver safety, Equity will be offering premium discounts up front to customers that subscribe to the Equitrack solution.