Since adopting the VisionTrack solution, the company has reduced road collisions by 35% by gaining visibility of collisions, near misses and harsh driving events. Meanwhile, Speedy has successfully defended against all false and exaggerated claims, while cutting the cost of at-fault claims for the business by 40%.
A multi-channel DVR system was initially adopted on a fleet of HGVs, providing a five-camera video telematics solution that was connected to the cloud-based IoT platform, Autonomise.ai. Since then, Speedy has installed VisionTrack’s VT2000 connected cameras on all small LCVs and a DVR solution on all new build commercial vehicles. Advanced Driver Assistance Systems (ADAS) technology has also been incorporated for the company’s overnight trunking fleet to help prevent incidents before they arise.
Speedy can view HD video evidence of road incidents within seconds of them occurring through the alert mode on the platform, so the welfare of the driver can be immediately checked, and liability proved in less than five minutes. Rapid liability decisions by the claims team is enabling the company to take swift action regarding at-fault incidents and share details with its insurers on the same day as an incident, achieving greater control over third party costs and reducing claims costs by 40%.
In addition, with the system, Speedy has prevented at least five fraudulent claims in the past 12 months.
An internal rear-facing camera has also allowed Speedy to investigate, verify and where appropriate dispute personal injury claims, as well as ensure employees are following health and safety guidelines. Insight from the video telematics solution is also being used by Speedy to better understand driving styles and identify areas of risk as part of its road safety initiative. Being able to review the footage in detail means the company can delegate the most appropriate training to the drivers as well as understand how incidents can be avoided in future.
The ADAS solution is also helping Speedy to understand fatigue within the fleet operation and prevent fatigue-related incidents.
“VisionTrack’s video telematics solution is playing a crucial role within our fleet strategy, protecting staff and other road users as well as targeting reductions in insurance and operational costs,” explains Gareth Jones, road risk manager at Speedy Asset Services.