Lockton’s Motor Practice Group

Motor fleet risk is going through a major transformation. Costs are escalating, technology is becoming almost a pre-requisite for many fleets, and the pace of change for business models – which was already escalating prior to Covid-19 – has become even more acute.

At the same time, the insurance market is becoming increasingly challenging, with premiums increasing and insurers Insurers becoming far more selective. In order to navigate these conditions, you will expert advice and a solid strategy.

At Lockton, we understand the challenges you face. Our approach is genuinely different from our peers. We work with you, focusing on the areas of cost that are affecting your fleet to create a tailored, cost-efficient insurance plan that meets your needs.

Audit

Our starting point is to analyse your existing risk management arrangements, processes and loss history. By doing this, we can identify the issues and exposures within your business that are most likely to influence and impact your claims, insurance premium, and retained costs. This ‘deep dive’ will include analysis of various areas, such as:

Your claims and other performance data (incidents/accidents)
FNOL process/accident reporting times
Existing use of technology e.g. telematics
Existing procedures and communication
Existing risk management strategies
How you manage driver performance
Your culture

Strategy

We use the output from the audit to formulate a robust risk management strategy with you. This will provide you with a number of benefits:

Quick fix’ strategies to help you better manage the risk and control cost
Performance benchmarking to help determine where support may be focused
Long-term risk management strategy planning (around 30 risk management tools available, including technology, improved claims management and driver performance targets)
A best-practice approach to enable you to take control of your fleet risk and improve your loss history