“Through this service, we intend to examine the fleet management practices of contractors in order to compare them with other policyholders,” said Greg Troxell, senior risk engineer in AXA XL’s construction insurance team. “The intent is to allow best practices to be recognized while seeking improvement opportunities for our customers.”
“Fleet risk management continues to be a transition risk approach for many of our clients,” said Brian Lordson, AXA XL Senior Risk Engineer. “There has been a general understanding of road safety, but with rising vehicle costs, medical costs and large verdicts, our policyholders have taken a new approach in developing their fleet management programs. We hope this benchmarking service will provide feedback to our customers and identify opportunities for improvement.”
“The costs and loss experience associated with operating fleets continue to be an increasing challenge for customers,” Troxell said. “We hope that the referral process provides them with the opportunity to become more competitive in their market through potential cost reduction outcomes.”
With the new benchmarking service, AXA XL clients will receive an analysis by a risk engineer, after which they will receive a detailed report, along with an anonymous comparison with similar contractors. Following a report and alignment to the report, AXA XL will provide recommendations to help the customer improve their fleet safety program.
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As part of the benchmarking service, the AXA XL construction risk engineering team will review five categories:
- Corporate Fleet Program and Operations: Written Programs, Best Practices, and Operations Related to Fleet Risk Management
- Vehicle fleet management: Programs and practices for the maintenance of fleet vehicles
- Technology: Adoption and use of fleet technology and vehicle characteristics
- Exposure and Loss Experiences: Loss frequency and severity trends in available loss experience data and high-risk exposures for fleet types and operations
- Safety and Fitness Electronic Records (SAFER) Score: Review of Department of Transportation inspections, history, and applicable SAFER score to compare to national averages
In December, AXA XL’s construction business in North America appointed Meredith Baron to lead its Controlled Insurance Program.
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