Munich Re partners with eDriving InsurTech on commercial fleet risk reduction

Insurtech (Insure Tech)

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Munich Reinsurance America, Inc. (Munich Re) has partnered with online driver training provider and global risk management firm eDriving to offer companies with commercial fleets a driver risk reduction program.

auto fleeteDriving warranties that organisations will reduce the number of collisions by at least 20% in the first program year or the program fees will be refunded.

The initiative includes Munich Re’s Smart Mobility program and eDriving’s new smartphone-based telematics program, Mentor, which combines clients’ collision, motor vehicle report and telematics data with behavioural science and interactive micro-training to identify and remediate risky behaviours.

Mentor delivers solutions via smartphone that capture harsh acceleration, braking, cornering, speeding and cellphone distractions, as well as monitoring driver progress, performing analytics that fuel the FICO Safe Driving Score, and coaching drivers with tailored micro training courses.

Munich Re’s LossDetect automated text-mining tool is also included in the Mentor warranty package, which can analyse automotive claims data and recommend solutions for reducing collisions.

“eDriving has proven its leadership in reducing severity and frequency of fleet crashes, and we are pleased to work with eDriving to bring its  warranty  to commercial fleets,” said Mike Scrudato, Senior Vice President of Strategic Innovation at Munich Re.

“By targeting specific, individual driver behavior and employing telematics data collection, state-of-the-art analytics, and data-driven coaching, we’re confident that this partnership will yield driver safety improvements,” Scrudato added.

Ed Dubens, Chief Executive Officer (CEO) and Founder of eDriving also commented: “Munich Re is helping establish new ways for fleets, brokers and insurers to explore how state-of-the-art technology-based risk management solutions can help save lives, and reduce risk and liability exposures.”

“Our new warranty offers clients and partners confidence that they will successfully reduce their fleet risk,” he continued. “We’ve spent more than 20 years refining our approach with some of the world’s largest fleets, and their sustained year-over-year collision performance is what gives us the conviction to offer this warranty.”

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