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Innovative technology gives carriers the power to lower insurance rates in real time
Insurance accounts for a large portion of fixed costs for trucking companies, especially small and mid-sized carriers. Rates rise year after year, driven by everything from nuclear court verdicts to environmental concerns. There is one thing, however, that can help carriers take control of snowballing rates while still protecting insurance companies: transparency.
Aon Transportation Programs and CarrierHQ have teamed up to launch the Small Fleet Advantage trucking insurance program that allows...
Insurtech company CarrierHQ helps small fleets gain financial advantage with safe driving
Within the last month alone of this current high-demand climate, 11,000 new trucking companies entered the market. But as industry veterans know, the margins for trucking companies are razor thin and the industry is accustomed to boom-and-bust cycles. One notorious expense that challenges the bottom line of new and smaller fleets is the surging cost of trucking insurance.
On a recent episode of WHAT THE TRUCK?!?, Lauren Meyer, director of client success at CarrierHQ, shared how her growing...
Modernizing insurance will keep small fleets’ wheels turning
One aspect of the transportation industry still stubbornly against digital transformation is insurance. To acquire insurance, carriers often endure a traditional procurement cycle that requires extensive back and forth for providing loss runs. Partly because of the 300% spike in nuclear verdicts, insurance rates for small fleets have doubled over the past few years.
On Friday’s episode of WHAT THE TRUCK?!?, Scott Prince, CEO of trucking insurance-tech company CarrierHQ, shared how his company is...
https://www.freightwaves.com/news/modernizing-insurance-will-keep-small-fleets-wheels-turning
New insurance program rewards safe driving with savings up to 30%
While dust settles around a tight and tense election and the just-in-time COVID-19 vaccine distribution plan is deep in the development stage, the often-overlooked small fleet owners are keeping their wheels turning in the rush of peak retail season.
Regardless of circumstance, small fleets remain frustrated by their spiking insurance premiums and are searching for ways to save significant money and increase cash flow.
Many of those fleets, which make up 97% of America’s transportation industry,...
https://www.freightwaves.com/news/new-insurance-program-rewards-safe-driving-with-savings-up-to-30