Aon teams up with CarrierHQ to launch driver-scored small-fleet insurance in US
Aon, the global professional services firm, has launched an “action-based monthly motor carrier insurance program” in the US available exclusively through CarrierHQ’s online portal.
It has been designed to help small carriers lower their costs, increase their cash flow, and grow business with its mobile app.
Aon’s proprietary rating algorithm uses data from federally mandated electronic logging devices (ELD),score drivers based on how they behave when behind the wheel. Fleet owners will have access to that score and pay a variable insurance rate per truck based on it.
Insurance rates can be adjusted each month, which will allow small fleet owners to directly influence their insurance cost.
The product will be rolled out across the US, to be available in all states except New York, Alaska, and Hawaii.
Mark Epperson, executive director at Aon, said: “In many cases, the upfront premium investment is a major barrier to entry or growth. By eliminating upfront fees and premium finance charges, we are empowering economic possibility by freeing up capital and improving cash flow, which will allow owners to grow their business.”
Scott Prince, CEO at CarrierHQ, added: “This service offering has long been missing from the industry. Not only are we bringing a new attractive insurance solution to small fleets, but we’re also transforming its delivery – no money down, promoting safer driving with variable rates, and hassle-free online enrollment designed for a mobile workforce.
“We believe this offering will significantly improve the business outcomes of small fleets, by allowing them access to lower insurance rates and more cash flow.”
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