FORT WORTH, Texas & WASHINGTON — (BUSINESS WIRE) — Daimler Truck Financial Services USA LLC (DTFS) and GEICO, one of the largest insurers in the U.S., have introduced Connected Insurance, a new data-centric insurance program. This initiative aims to assist Freightliner and Western Star owner-operators and small fleets in lowering their insurance premiums while encouraging safer driving. The program is offered through DTFS’s subsidiary, Daimler Truck Insurance Agency LLC.
This development enhances GEICO’s DriveEasy Pro initiative by utilizing data to reward safe driving practices. Customers of Freightliner and Western Star can opt to share their real-time Detroit Connect telematics data, enjoying the benefits without needing to install extra hardware in their vehicles. This approach facilitates precise underwriting and simplifies the claims process. Eligible clients could save up to 10% on their commercial vehicle insurance premiums.
Kevin Bangston, president and CEO of Daimler Truck Financial Services North America, stated, “Our priority is to provide innovative financial solutions tailored to our customers’ needs. This partnership with GEICO offers a smart, data-driven insurance option that helps clients manage one of their primary operational expenses.”
Chris Sions, GEICO’s head of partnerships, added, “Real-time data from Daimler Truck’s telematics platform enhances our risk assessment, rewards safe driving, and allows us to provide meaningful savings to our clients.” He emphasized the importance of strong partnerships, like the one with DTFS, for extending their commercial trucking insurance nationwide.
The rollout comes at an important time for the trucking sector, as per the American Transportation Research Institute, which ranks insurance costs as the fourth-highest challenge faced by carriers, especially small businesses. Connected Insurance responds directly to this issue by making quality coverage more affordable and accessible, contributing to the sustainability of independent drivers and small fleets.
GEICO’s expansion into the commercial trucking sector provides tailored coverage options for Freightliner and Western Star customers. The program, developed with insights from owner-operators and industry experts, combines real-world telematics data with advanced analytics to offer competitive rates bolstered by Berkshire Hathaway. It also benefits from GEICO’s extensive experience in auto insurance, now enhanced with specific trucking expertise to streamline claims for commercial vehicles.
Connected Insurance reflects DTFS’s commitment to harnessing Detroit Connect telematics to improve the ownership experience. As DTFS continues to innovate, it will seek additional ways to utilize connected vehicle data across its financial services offerings.
