High-definition car insurance records 20 million fewer accident kilometers, less speeding and less harsh braking

  • Connected technology equips small and medium commercial fleets with sophisticated security and risk management tools to mitigate risk, improve efficiency and reduce insurance costs
  • HDVI continues to grow, expands its fleet services office and begins offering an insurtech solution in Caroline from the south with plans to be in 25 states by the end of 2022

CHICAGO, April 26, 2022 /PRNewswire/ — High Definition Vehicle Insurance (HDVI), the leader in commercial auto insurance technology and product innovation, today announced that 20 million miles of telematics data shows that its products, data, advisory services and insurance at dynamic pricing helps small to midsize truck fleet customers protect drivers and equipment, improve operations and reduce insurance costs.

HDVI offset™, the first dynamically rated commercial trucking insurance coverage launched last year, uses in-vehicle telematics data to inform risk models in real time. Rather than waiting years for a traditional insurance company to recognize and potentially reward safety gains, HDVI Shift helps fleets save up to 12% on their monthly premium based on real-time driver safety .

“We attract fleets that share our commitment to safety,” says chuck wallace, CEO and co-founder of HDVI. “In our first year of Shift and based on 20 million miles of telematics data, our studies show HDVI customers have above average safety scores with 30% fewer predicted accidents.”

HDVI’s comprehensive safety management and data-driven insights help fleets achieve further quantifiable improvements. For example, over 75% of its customers saw an improvement in speed or hard braking within the first six months, a number that rises to over 90% after nine months with an HDVI Shift policy.

“The commercial auto insurance industry, especially trucking insurance, is in desperate need of innovation,” adds Wallace. “Commercial truck fleet insurance rates are increasing every year and insurance companies are struggling to incorporate data and technology into their business models. Our metrics help fleets identify actionable safety improvements that drive significant premium discounts.

HDVI offers a more connected and personalized service than traditional insurers by providing safety insights through the HDVI Fleet Portal and meeting with fleets monthly to help them identify where they can focus their efforts to improve safety and reduce costs insurance. Drivers are also involved through the HDVI Driver+ mobile app, where they can earn rewards and receive valuable safety information.

“Safety coaching sessions with HDVI Fleet Services have helped improve our overall safety culture, which has resulted in a reduction in our insurance premiums,” says Guru Shah, CEO of Shah Trucking and Shah Logistics. “We use HDVI Shift to support our product transportation on time and in top condition. It also supports our commitment to putting our drivers first and keeping abreast of key industry trends.”

An HDVI Shift policy includes the cost of fleets to install and operate video telematics and electronic logging (ELD) systems. HDVI Shift supports hardware and subscriptions from a wide range of video telematics device vendors.

HDVI now available in Caroline from the south

The insurtech company also announced its expansion to fleets of Caroline from the south.

More than 79% of Caroline from the south communities rely exclusively on trucks to transport their goods, according to statistics cited by the South Carolina Trucking Association, showing how trucking drives the state’s economy. SCTA also indicates that more than 7,900 trucking companies operate in Caroline from the southmainly small family businesses.

HDVI is present in Caroline from the south since 2019 and opened its Greenville office in June 2021 where it operates its Fleet Services team, which is expected to expand in 2022.

“HDVI gives small and medium fleets access to advanced telematics tools that are typically only available to mega-fleets,” said Marty Maroney, head of HDVI fleet and telematics services. “Our standard practice of monthly conversations with our customers is almost unheard of in the insurance industry. This year, we will double the size of our Fleet Services team to support this unique level of service and maintain the deep relationships our customers need. .”

HDVI is focused on small to medium sized truck fleets and is currently available in 13 states including Alabama, Arkansas, Georgia, Illinois, Indiana, Michigan, Minnesota, Missouri, Ohio, Caroline from the south, Tennessee, Texasand Wisconsin.

Supported by a workforce that has doubled in the past year and talented senior management, HDVI continues to develop new products and will expand its presence to 25 states by the end of 2022.

“HDVI Shift and Driver+ are just the first of many coverage and product innovations we will bring to the industry,” said Wallace. “Looking forward, we are already working on the development of Shift 2.0, which will use data to reward fleets for safety gains already made from the start of the policy.”

For more information, visit https://hdvi.com.

About HDVI
HDVI provides fleets with the data, tools and coverage needed to reduce insurance costs, increase safety, mitigate risk and improve efficiency. The company provides commercial fleets with an innovative and flexible insurance product along with powerful, easy-to-use tools to help them improve safety, compliance and profitability. HDVI is headquartered in Chicago, Ill.with additional offices Greenville, South Carolina; Austin, TX; and San Francisco, California. High Definition Vehicle Insurance, Inc. is a licensed property and casualty insurance agent with products underwritten by various insurance companies.

SOURCE High Definition Vehicle Insurance (HDVI)