If the last blog made you cover your eyes or head towards a stiff drink, relax. This bit is much less frightening. In fact, we’re here to tell you how we work with data to help you come up with a strategy, reduce your risk and potentially lower your insurance premiums too.
Check out your personalised risk register now.
Part of the FLEETiQ process at Vtec Solutions is to identify areas that are a weakness in each business. This is initially done by creating a Risk Register as shown below which highlights the areas which need immediate attention.
(P = 1-9)
(I = 1-9)
(P x I)
|Purchase cheapest system available||9||9||81|
|Don’t utilise telematics properly||9||9||81|
|Ignore the driver behaviour data from telematics||9||8||72|
|Used only as a “dot on the map”||9||7||63|
|Don’t use to benefit insurance costs||9||9||63|
|Insufficient and ineffective delegation||7||7||49|
|Failure to change (systems/behaviours/processes)||7||6||42|
|Failure to work with Drivers to lower costs||7||6||42|
|Insufficient clarity of Key Performance Objectives||6||7||42|
|Insufficient engagement from significant stakeholders||6||6||36|
The last risk above is “Insufficient engagement from significant stakeholders” which completely changes if meaningful data can be provided to achieve set objectives. Once you get people on board with your business objectives you can start to engage your stakeholders with what that means for them.
We know that finding your way around your telematics is a steep learning curve. When you first invest it can feel as if your new system is the answer to all of your challenges, but that isn’t always the case. Learning to make it work for your business means identifying the areas where it can be most effective and lead to lasting change. You might have read this guide and wondered where on earth you need to start.
That’s why we devised the risk register. It allows us to be a second, more specialist pair of eyes on your business and fleet management. We can help you to devise a road map that helps you to improve efficiency. The risk register also highlights issues that you can deal with straight away. That can help you to improve safety but also see the benefits immediately.
Contact us today to let us talk you through the risk register and where can you can make immediate changes.