Commercial Automobile Insurance Combined with Telematics Information Systems Creates Many Benefits For Oil and Gas Contractors with a Fleet of 5 or More Vehicles.
Oil and gas service companies working in the oil patch with Telematics systems installed in their fleet of vehicles (five or more) that wish to cut costs and save money will appreciate what Oil Patch Insurance and TouchStar can do to help your company save money on fuel, eliminate employee waste and lower your insurance premiums. Josh DeBoer, insurance advisor with Oil Patch Insurance, and Matt Price, with TouchStar, discuss the benefits of using such systems not only to save money on insurance policies, but also improve employee safety and security in a quick and enlightening new video.
According to a whitepaper published by the U.S. Department of Labor Occupational Safety and Heath Administration (OSHA), there is a fatal accident because of a car crash every 12 minutes, some sort of injury every 10 seconds and every 5 seconds results in a crash involving a vehicle.
Motor vehicle crashes can cost employers up to $60 billion annually in a variety of expenses, including medical care, legal fees, property damage and lost productivity. But crashes can be prevented if companies use TouchStar’s Telematics Systems, which will improve their organization’s safety culture.
One highlight of the system is the driver behavior monitoring feature, which allows the company’s management to visually monitor employees in any vehicle with the installed system. You can view behaviors such as speeding, harsh breaking or if the vehicle is experiencing excessive idle time. All data can then me used to improve safety efforts for the drivers and even reduce the wear of all vehicles the company uses. The system will provide valuable insight as to what’s happening with the company’s vehicles and its drivers at any given time during the day.
Thanks to the GPS tracking system provided by TouchStar’s Telematics Systems, supervisors, managers and even CEOs can always be aware of where their trucks are, where they’ve stopped throughout the day and which route is being taken. This can in turn be used for improvement within the company, especially driver productivity and fuel efficiency. This powerful data really comes in handy for creating optimized routes that will provide the same amount of deliveries in less time! Not to mention, it’s a great way to verify that employees are being safe while driving company vehicles, and not slacking off taking a nap during their shift.
By using such Telematics Systems, some insurers will automatically provide the company a 10% credit to their fleet policy, while others will also provide useful credits and discounts if the company has a favorable loss history. Contact Josh DeBoer with Oil Patch Insurance today.
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