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Fleet Risk Management

Fleet operators are facing a growing number of challenges in managing risk and containing escalating costs. Poor fleet management increases the number of collisions and cost of claims, which potentially causes harm to employees and the public. The result of these includes increased insurance premiums and damage to brand and reputation.

What is Fleet Risk Management?

Effective fleet risk management identifies risk within an organisation and provides practical solutions for all types of businesses that operate a fleet of vehicles. This includes businesses that are, for example:

  • Involved in the logistics sector and operate vehicles ranging from large goods to light vans
  • Operating a fleet of vehicles such as company cars or grey fleet schemes
  • Operating in the service industry and provide employees with vehicles to travel to work offsite or at third party locations
  • Involved in passenger transportation with operations ranging from chauffeuring services to bus and coach fleets

What are the benefits?
Successful fleet risk management will save time and money from fewer incidents, as well as reducing the risk of harm to employees and other road users.

Fleet Risk Management provides benefits in the following areas:

  • Compliance with legislative requirements
  • Increased levels of fleet availability, reducing downtime and costs due to vehicles being off the road
  • Reduced wear and tear on vehicles leading to reduced maintenance costs and increasing de-fleet residual values
  • Reduced cost to the business from improved fleet fuel consumption
  • Help promote a ‘risk aware/employer care’ culture
  • Protection of brand and reputation through reduced collisions, claims and media attention
  • Ensure claims are dealt with more efficiently and quickly to reduce costs
  • Ensuring in-vehicle technology is used as effectively as possible to maximize its value to manage risk
  • Increasing an organisation’s attractiveness to insurers through fewer incidents and claims
  • Lower insurance premiums

Contact us:

For further details please contact your local Willis Towers Watson office.

Fleet Risk Management factsheet:


Testimonial

“The detailed fleet report was easy to Follow and covered all the areas reviewed.

We were able to easily prioritise the recommendations and consequently started to implement them; some at head office and others, with a detailed training programme, with our field staff.

In conclusion we found the exercise was well worth undertaking and we would recommend similar exercises to any business, but particularly those with larger fleets.”

Finance Director, UK fleet operator client