DCL Camatics, the specialist commercial motor insurance solution from Direct Commercial Ltd, is taking advantage of VisionTrack’s video telematics expertise to deliver a unique insurance proposition within the fleet marketplace. DCL Camatics has seen an average improvement of 17% in the frequency of claims and 36% reduction in claims cost, resulting in an average fleet claims performance improvement of 47%. This is enabling vehicle operators to achieve a reduction in insurance premiums of up to 20% annually, while also gaining driver behaviour insight to mitigate fleet risk and support duty of care.
“We have been partnering with VisionTrack for over three years and the results to date have been staggering, dramatically lowering claims costs, improving loss ratios and cutting premiums for policyholders,” explained Adam Marsh, Head of Agency & Business Development at Direct Commercial Ltd. We are delivering insurance fused with industry-leading video telematics technology to over 500 brokers, to reduce collision frequency, accelerate claims reporting and drive down costs.”
DCL Camatics’ fleet policyholders can monitor driver behaviour and identify risk through the award-winning IoT platform, so they can check on driver welfare, pinpoint road safety issues and determine training requirements. The company is also quickly accessing irrefutable evidence when a collision occurs by way of video footage and supporting data. This means it is possible to mitigate the impact of fraud, while achieving faster first notification of loss (FNOL) for at-fault claims, which is helping to minimise third-party costs by cutting repair and replacement vehicle charges by up to 40% and 70% respectively.
Originally, the video-enabled fleet insurance solution was only available to policyholders on a three-year basis, with premium reductions in year two and three dictated by the loss ratio in the previous year. At the end of 2021, a 12-month only service was launched along with the introduction of a host of other enhancements including a new 4G forward-facing camera, secondary camera options – driver, side or rear facing – and a self-fit solution.
Richard Kent, Sales Director of VisionTrack commented: “Our multi award-winning video telematics solution is continually evolving to transform how insurance businesses support their fleet customers. We are working closely with our valued fleet customers and insurance partners to continually push the boundaries of what is possible and make the road network a safer place. This is enabling fleet solutions such as DCL Camatics to make a real difference and deliver exceptional service levels by helping to reduce collisions, while making significant cost, time and resource savings.”