Introduction of Connected Insurance Program
Daimler Truck Financial Services USA LLC (DTFS), the financing branch of Daimler Truck North America LLC, in collaboration with GEICO, has rolled out Connected Insurance. This innovative, data-focused insurance initiative aims to assist owner-operators of Freightliner and Western Star trucks, as well as small fleets, in lowering their insurance premiums while encouraging safer driving behaviors.
Program Overview
The program is administered through DTFS’s subsidiary, Daimler Truck Insurance Agency LLC. Connected Insurance builds upon GEICO’s existing DriveEasy Pro initiative, utilizing data analytics to reward safe driving practices.
Data Sharing Benefits
Clients of Freightliner and Western Star have the option to voluntarily share real-time data from their Detroit Connect telematics system. This feature allows them to reap the benefits of the program without the need for extra on-board diagnostic systems or dashcam installations, which enhances underwriting precision and simplifies the claims process.
Potential Savings
Eligible participants could reduce their commercial vehicle insurance premiums by up to 10 percent, offering a significant financial advantage.
Leadership Insights
“At Daimler Truck Financial Services, we are dedicated to providing comprehensive and innovative financial solutions tailored specifically to our customers’ unique requirements,” expressed Kevin Bangston, president and CEO of Daimler Truck Financial Services North America. “This strategic alliance with GEICO presents a smart, data-driven insurance alternative that aids our clients in minimizing one of their largest operational costs.”
Addressing Industry Challenges
The launch is especially timely, given current trends in the trucking industry. The American Transportation Research Institute ranks insurance costs as the fourth most significant barrier faced by carriers, particularly affecting small businesses.
Collaboration for Better Coverage
Connected Insurance responds directly to this challenge by making high-quality coverage more attainable and affordable, thereby supporting the long-term viability of independent operators and small fleets. “With real-time data from Daimler Trucks’ telematics platform, we can effectively evaluate risk, reward safe driving, and provide our clients with substantial savings,” stated Chris Sions, GEICO’s head of partnerships. “To successfully expand our commercial trucking insurance offerings across the nation, we rely on robust partnerships like the one established with Daimler Truck Financial Services.”
