Daimler Truck Financial Services and GEICO Launch Connected Insurance
Daimler Truck Financial Services (DTFS) and GEICO have introduced Connected Insurance, a new insurance program that utilizes data to help owner-operators of Freightliner and Western Star trucks, along with small fleets, reduce their premiums while encouraging safer driving practices.
The program is available through DTFS’s subsidiary, Daimler Truck Insurance Agency LLC.
Connected Insurance builds on GEICO’s DriveEasy Pro program by incorporating data to incentivize safe driving. Customers who own Freightliner and Western Star vehicles can voluntarily share their real-time Detroit Connect telematics data, reaping the benefits without needing to add on-board diagnostics or dashcam equipment. This approach aids in more precise underwriting and simplifies the claims process, with eligible participants potentially saving up to 10 percent on their commercial vehicle insurance premiums.
Kevin Bangston, president and CEO of Daimler Truck Financial Services North America, states, “Our mission is to provide comprehensive and innovative financial solutions that cater to the unique needs of our customers. This collaboration with GEICO presents a smart, data-driven insurance alternative that can help lower one of our customers’ major operational costs.”
Chris Sions, GEICO’s head of partnerships, comments, “The real-time insights from Daimler Truck’s telematics platform enable us to evaluate risks more effectively, reward safe driving behaviors, and offer substantial savings to our customers. Expanding our commercial trucking insurance nationwide relies on strong partnerships like the one we have established with Daimler Truck Financial Services.”
Daimler emphasizes that the launch is particularly timely for the trucking sector. The American Transportation Research Institute ranks rising insurance costs as the fourth most significant challenge for carriers, notably impacting small businesses. Connected Insurance directly addresses this issue by making quality coverage more accessible and affordable, thereby supporting the long-term success of independent operators and small fleets.
GEICO’s foray into the commercial trucking segment broadens coverage options that are specifically designed for Freightliner and Western Star clients. Developed with insights from owner-operators and industry experts, the program merges real-world telematics data with advanced analytical techniques to provide competitive rates backed by Berkshire Hathaway’s resources. Additionally, GEICO leverages its nearly 90 years of auto insurance experience, now enhanced with specialized trucking expertise, to offer effective claims services tailored for commercial vehicles.
Connected Insurance reflects DTFS’s ongoing commitment to enhancing the ownership experience through the use of Detroit Connect telematics data. The company aims to continually innovate and explore new applications for connected vehicle data within its financial services portfolio.
