Improving your insurance coverage can lower your insurance costs

Nuclear judgments – or jury awards of more than $10 million – continue to be issued, which often leads to small and medium-sized litigation companies to pay the debt. These judgments are not limited to the accused; they manage insurance rates for companies for all companies, as well as motorists.

One way carriers can deal with the rising threats is to provide evidence of their commitment to security through the use of security management technology. On the other hand, one of the worst things carriers can do is collect security data and fail to deal with breaches.

“I meet with safety officers all the time. Most carriers have some type of telematics device that records safety information, and they usually have cameras. Even if a trucking company doesn’t have cameras, most trucks do,” said the Tenstreet Sales Consultant. Josh McAlister. “There are images and data out there. One of the biggest risks is having this and not doing anything about it.”

That’s right Tenstreet they enter. The company has an open API and offers a wide range of integrations that enable carriers to feed all their data into a single platform, allowing them to gain a better view of their security and work towards implementing sustainable solutions.

“The idea is, with a connected platform, you have everything working in one place,” McAlister said. “You can see the whole picture of risk and performance and make sure it’s running smoothly.”

Tenstreet’s suite of safety management tools enables carriers to automatically send relevant safety training to the driver’s smart device, no human action required.

“A bookie looks at a company and says, ‘They have a machine, so we know the ball won’t drop.’ There is no room for human error. There has been consistent enforcement of other actions,” McAlister said. “For example, Tenstreet brings up the FMCSA violation the day it hit the machine and sends the appropriate training to bus drivers.”

Immediate response is more attractive to the insurance writer than waiting for the safety officer to reach out to the driver and organize a training session. This is true for both traditional and captive insurance companies.

Although the companies are trying to solve the problem of nuclear decisions and the increase in traditional insurance prices, the carriers are looking at the money saved in captivity – the insurance groups are made by its insured parties. direct section. Maybe the carrier will get umbrellas, but many want to insure themselves as much as possible or join a group that can do that.

Security monitoring platforms appeal to all types of insurers, but they can be particularly useful for group inmates.

It only takes one bad driver or one accident to bring more accidents to the team. By putting things like this, the hostage can ensure that every member is using the machine to train and teach. The carrier can share information about accidents/incidents, driver training and training certificates, and operating systems with the carrier. “

The main purpose of Tenstreet’s safety equipment is to make the road a safer place for motorists and all motorists. The cost reduction that accompanies this goal is an added bonus. These savings are due to the system’s ability to bring multiple data streams together on a single platform, reflecting the growing need for collaboration and integration across the industry.

In the end, coordination is the key to a comprehensive security system that will allow carriers – and insurance companies – to save more, despite the risk of nuclear decisions.

Click here to learn more about Tenstreet.