In the past few years, telematics and fleet management capability has exploded. It can now deliver benefits that transcend its original objective of solely tracking fleet location.
Take the fuel industry, for example. Among many other top news stories this season is the escalating price of diesel fuel. With high global demand, low inventory and low output, transportation, trucking and towing industries are feeling the brunt of this economic hurdle. Nationwide, prices are averaging over $5 per gallon. Unfortunately, the forecast for price recovery is pessimistic. Recent U.S. Energy Information Administration data predicts the cost of diesel will top $5 through 4Q22. But the good news is that companies can combat these escalating prices with smart technology. Telematics fuel management, for example, helps fleet managers keep track of usage patterns and put into effect targeted programs to improve efficiency and control fuel consumption and expense. Industry leader eMaxx has worked for decades with clients in this niche market to implement 21st century technology to drive down costs.
Waste management telematics have also made incredible strides. In the waste and recycling industries, insurance and risk management are among the largest expenses encountered by operators. But once again, eMaxx offers superior options here. Its telematics system provides waste haulers the opportunity to improve performance in key metrics: safety, service, fuel cost reduction (up to 12%), driver productivity and ‘vehicle up time’ (when the truck is actively hauling). Waste 360 estimates each unforeseen maintenance delay at about $500/day for most haulers. But telematics can mitigate this problem before it occurs.
Moreover, eMaxx’s modern telematics-based fleet management system allows a waste hauler to glean valuable insight from third-party datasets that are collected and integrated into the operator’s central processing system (enterprise resource planning tool). Advanced analytics mean more control for fleet operators. And more control means better productivity.
Target classes in this industry include: garbage, ash or refuse collecting, landfills, garbage works, recycling collection centers, metal scrap dealers, septic tank systems, portable toilet rentals, and hazardous, medical and industrial waste.
From energy to waste, transportation or recycling, vehicular operators may wonder if telematics and fleet management services are worth the investment. Most experts roundly endorse the investment. A recent article in Insurance Business magazine calls telematics transformational and a phenomenal return on investment. From tracking irregularities in driving to breaking, speeding and other driver behaviors, the data goes a long way in improving driver behavior over time, improving safety and productivity and reducing costs. Moreover, video dashcams offers a real-time detailed narrative of an incident that can have a significant impact on a claim.
If you are a decision-maker for a waste, recycling, transportation or similar niche market company, leverage the robust benefits of telematics asset management. Contact eMaxx to learn more about this technology coupled with unparalleled alternative commercial insurance solutions.