Following a comprehensive review of its motor pricing and underwriting, Norwich Union is introducing new rates for its private car policies.
Norwich Union has launched an innovative risk management initiative aimed at improving the safety of company drivers and maximising the efficiency of fleet operators. Called 'Roadsense', the initiative will form an integral part of the insurer's fleet product 'Fleetwise'.
A team of 'Roadsense' risk advisors will help fleet managers to reduce accidents involving company drivers, by devising development programmes, which include both theory and practical training.
Ian Greenwood, fleet and motor trade product manager at Norwich Union Insurance, explains; "Unlike other initiatives, which are solely designed to cut costs, 'Roadsense' enables fleet managers to take a more comprehensive approach - reducing risk, controlling costs and improving fleet performance. Our team of fleet risk advisors will assess each customer's needs and will deliver a tailored risk management programme for the individual fleet.
"Within the next twelve months, 50 per cent of company vehicles will be involved in a road accident and the true cost of an accident is many times more than the cost of repairing a vehicle. Through 'Roadsense', we can deliver a real value-added service to our customers by helping them to manage their risk.
Greenwood continued; "We have also developed a website exclusively for our 'Fleetwise' customers. Visitors will have access to a fleet manager's guide, showing how risk management can be integrated into an organisation's fleet operation and its benefits. This guide includes materials that can be printed off, to help fleet managers working with employees to reduce risk in their organisation."
Company vehicle drivers account for a third of all deaths on the road* and driver training is proven to reduce accident rates by an average of 30 per cent or more.
Other features of the 'Roadsense' programme include:
- Advice on legal issues to help fleet managers understand and meet their legal obligations
- Practical advice on vehicle security, to help fleet managers make the best choices for their own fleets
- Exclusive partnership with RAC Risk Management providing preferential rates for:
- risk management training aids such as Prophet (a unique computer-based claims analysis system)
- a safety and economy seminar tailored to the needs of the individual fleet and using the company's own fleet data
- a self-study CD Rom to deliver interactive driver education
- driver training on selected driver safety courses
Commenting on the joint initiative with Norwich Union Insurance, the RAC's head of fleet safety Wayne Gardner, said: "Companies are under increasing pressure from Government initiatives to reduce the number of at-work related road accidents. The implementation of a comprehensive risk management programme will pay immediate dividends in terms of reducing the number of accidents and the associated costs. This initiative will provide long-term solutions for Norwich Union clients."
For more information on 'Roadsense', brokers should speak to their usual Norwich Union contact.
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Media Contact: Liz Nicholson/Jenny Chapman
Norwich Union press office on 08703 666 868
Additional information
- * Source: DETR, Feb 2001
- 'Roadsense' also includes 'Fleetstar' from Trafficmaster, a market-leading fleet management system which can result in significant productivity and efficiency gains.
- Trafficmaster plc is the leading telematics company. The Fleetstar system is supported by the Trafficmaster telematics platform and combines state-of-the-art GPS tracking technology and a specially developed GSM module. By combining the ability to view both historic and real time activity on vehicle movements, it can provide a range of important management reports on key aspects of driver and vehicle performance, helping to improve productivity and drive down operating costs.
- The Institute of Transport Management has awarded Norwich Union 'Vehicle Insurance Company of the Year 2001'. The 'Roadsense' initiative has been applauded by the institute for its excellent product offering and the focus on customer service.
- Norwich Union is the biggest insurer of fleet vehicles in the UK, covering 25,000 customers.
Notes to Editors
- CGU plc and Norwich Union plc merged on 30 May 2000 to create CGNU plc, the UK's largest insurance group and one of the top-five insurers in Europe with substantial positions in other markets around the world, making it the world's sixth largest insurer based on gross worldwide premiums.
- CGNU's principal business activities are long-term savings, fund management and general insurance, with worldwide premium income and retail investment sales from ongoing business of over Ł27 billion and assets under management of more than Ł210 billion (correct as at February 2001).
- From October 2000, the combined life and pensions, general insurance and retail fund management businesses in the UK operate under the Norwich Union brand, while the institutional investment business operates under the Morley Fund Management brand.
- Norwich Union's news releases are available on the internet at www.cgnu-group.com