Work Truck Magazine, April 2018

APRIL 2018 WORK TRUCK 35 ing programs which provide opportunities for corrective action before losses occur Coverage Based on Real Time Performance Durdin notes that building an insurance and risk management group that can consult with fleets of all sizes to create insurance and risk financing programs for them is the centerpiece of the new Holman initiative Holman Insurance can consult on a host of topics from simple physical damage coverage for a small fleet up to sophisticated planning around risk financing for exposures for large fleets Were building the tools here at Holman to accommodate both ends of that spectrum Durdin said Telematics is one of those important tools that Holman Insurance believes is currently being underutilized in risk management conversations But Durdin believes fleets are challenged to understand all of the data that telematics produces and how to put it to work to reduce risk and costs related to accidents Conceptually many in the fleet business embrace the idea of more visibility and transparency into driver behavior and factors that might adversely affect their risks and associated costs But this ideal is often outweighed by the challenge of effectively managing the massive amount of data that a telematics or safety program produces he said Having access to the data is often no longer the challenge knowing what to do with that data in order to gain valuable insights is what creates new frustrations for many fleet and safety program managers The technology is there and the visibility is there like never before for driver behavior and vehicle performance but I think most fleets are challenged to find ways to put that data to work for themselves Durdin said He added that ARIs telematics platform is device agnostic so the product can aggregate data from many telematics providers In addition ARIs proprietary technology presents the data in a manner that is meaningful to fleet professionals and risk managers including dashboard views that monitor and illustrate key performance indicators to quickly identify high risk drivers Holman Insurance also benefits from that data as it seeks to provide risk management products and services for its insurance clients The data helps the company tailor a variety of solutions such as traditional policies as well as alternative risk and captive programs to the specific needs of each client Traditionally in commercial auto insurance when an insurance company is working to underwrite a risk for a business it will seek information such as a list of accidents and claims the business has reported over the past three to five years Then the insurance company will use that data as a foundation during the underwriting and rating process Holman Insurance is looking to present the telematics program capability from ARI for a real time view rather than a historic one Instead of saying whats happened we can say whats happening We can identify driver misbehavior much more quickly Durdin said WT Holman Insurance Services a full service insurance brokerage managing personal and commercial products from an array of top rated carriers and offering customized risk management solutions for commercial clients was founded in 2016 and has been working hand in hand with ARI ever since In a strategic move that helped launch the companys commercial division this past August Holman Insurance acquired Risk Partners Inc a N J based commercial insurance brokerage that specialized in a wide range of risk financing solutions What we are doing is marrying two different disciplines together Durdin said That means using what Durdin calls a best in class insurance and risk management platform with experienced in house underwriters combined with its relationship with insurance companies and adding to it ARIs fleet management capabilities On top of that the program leverages ARIs telematics platform that monitors driver performance to identify high risk behavior such as speeding hard braking etc The insurance expertise and technology is then complemented by ARIs driver safety and trainHolman Insurance incorporates real time data into its service offerings which it believes portrays a more accurate image of a fleets current risk PHOTO HOLMAN INSURANCE