New Partnership for Trucking Insurance
FORT WORTH, Texas, and WASHINGTON, D.C. — Daimler Truck Financial Services (DTFS) has teamed up with GEICO to launch a new initiative called Connected Insurance.
Innovative Insurance Solutions
Kevin Bangston, the president and CEO of DTFS North America, stated, “We are committed to offering comprehensive and innovative financial solutions tailored to our customers’ needs. Our collaboration with GEICO presents a smart, data-driven insurance option aimed at helping customers decrease one of their most significant operational costs.”
About Connected Insurance
As revealed in a joint media statement, Connected Insurance is a novel data-driven program crafted to assist owner-operators of Freightliner and Western Star vehicles, as well as small fleets, in saving on insurance premiums while encouraging safer driving practices. This initiative is managed through DTFS’s subsidiary, Daimler Truck Insurance Agency LLC.
Data-Driven Approach
“Utilizing real-time data from Daimler Truck’s telematics platform enables us to evaluate risk more effectively, incentivize safe driving, and provide significant savings to our clients,” remarked Chris Sions, GEICO’s head of partnerships. “To broaden our commercial trucking insurance offerings nationwide, we need strong partnerships like the one forged with Daimler Truck Financial Services.”
Enhanced Benefits for Customers
Connected Insurance builds on GEICO’s DriveEasy Pro program by utilizing data to reward safe driving. Customers of Freightliner and Western Star can voluntarily share their real-time Detroit Connect telematics data without needing to install additional hardware for diagnostics or dashcam features. This results in more precise underwriting and an improved claims process, allowing eligible clients to save up to 10 percent on their commercial vehicle insurance premiums, according to the announcement.
Addressing Challenges in the Trucking Industry
The release emphasizes the timely launch of this program, noting that insurance costs are the third-highest hurdle for carriers, especially small businesses, according to the American Transportation Research Institute. Through Connected Insurance, the aim is to make quality coverage more affordable and accessible, thereby supporting the long-term sustainability of independent drivers and small fleets.
Expertise and Experience
GEICO’s entry into the commercial trucking insurance market expands tailored coverage options for Freightliner and Western Star customers. The program, developed with feedback from owner-operators and industry experts, combines actual telematics data with sophisticated analytics to offer competitive rates supported by Berkshire Hathaway. GEICO’s nearly 90 years of auto insurance experience, now enhanced with specialized trucking knowledge, aims to provide efficient claims services designed specifically for commercial vehicles.
Commitment to Innovation
DTFS stated, “Connected Insurance exemplifies our ongoing commitment to utilizing Detroit Connect telematics data to enrich the ownership experience. As we continue to innovate, we will seek additional opportunities to integrate connected vehicle data across our financial services offerings.”
