July 26, 2022
High Definition Vehicle Insurance (HDVI), a leader in auto insurance technology and innovation, today announced its expansion in Arizona, where its insurance solutions based on telematics and safety training can now be used by small and medium-sized fleets to reduce insurance costs.
About 85% of Arizona’s communities rely on trucks to move their goods, according to a study by the American Transportation Research Institute, which found that the trucking industry paid about $719 million in state and highway taxes in 2019, about half of all taxes. Loans and car insurance in Arizona. The state’s trucking industry is a small, locally owned company supported by a variety of subsidiary businesses.
“The auto business is a very important pillar of the economy despite a very difficult industry with high fuel costs, driver shortages and high insurance costs,” said Chuck Wallace, co-founder of HDVI. “Our advanced safety and risk management tools help these small fleets protect their drivers, operate more efficiently, and save insurance costs.”
HDVI conversion™, the first premium insurance of its kind, uses telematics data to provide small to medium-sized models of real risks – advanced tools often available to mega-fleets. Instead of waiting years for a traditional insurance company to recognize and receive safety benefits, HDVI Shift helps fleets save up to 12% on their monthly premiums based on real-time driver safety.
In the first year of HDVI Shift, and based on 20 million pieces of telematics data, automotive customers achieved better than average safety scores and 30% fewer accidents than predicted. Additional quantitative results show that more than 75% of his clients saw an improvement in speed or running intensity in the first six months. This number rises to 90% after nine months of HDVI Shift compliance.
HDVI provides connected and similar services by providing safety information through its port of call and monthly meetings that identify telematics activity to improve safety and reduce insurance costs. Drivers also have the HDVI Driver+ mobile app, where they receive security information. HDVI Shift rules cover hardware, installation, and registration for various video equipment vendors.
“HDVI Shift and Driver+ are just the first of many new enhancements and innovations we will bring to the industry,” said Wallace. “As we look to the future, we are already working on the development of Shift 2.0, which will use data to reward the defense fleet that has already benefited from the beginning of the process.”
With a workforce that has doubled in the past year, the company operates small and midsize vehicles in 15 states: Alabama, Arizona, Arkansas, Florida, Georgia, Illinois, Indiana, Michigan, Minnesota, Missouri, Ohio, South Carolina , Tennessee, Texas, and Wisconsin. This number will reach 25 by early 2023.
For more information, visit https://hdvi.com.
About HDVI HDVI provides the fleet of data, tools and support needed to reduce insurance costs, increase safety, reduce risk, and improve efficiency. The company offers innovative, flexible insurance marketing tools along with powerful, easy-to-use tools to help improve security, compliance, and profitability. HDVI is headquartered in Chicago, Illinois, with additional offices in Greenville, South Carolina; Austin, Texas; and San Francisco, California. High Definition Vehicle Insurance, Inc. It is a licensed property insurance company that has properties underwritten by various insurance companies.
Share the story on social media or email: