Representatives from Daimler Truck North America, Geico, and Hirschbach Motor Lines participated in a panel discussion during the 2024 American Trucking Association (ATA) conference in Nashville, Tennessee. They explored the significance of vehicle safety systems and emphasized the necessity of granting insurers access to telematics data to help reduce insurance costs for fleets.
Moderated by Tobias Waldeck from Daimler Truck Financial, the panel addressed inquiries about driver assistance technologies, their potential to lower insurance premiums, driver acceptance, and the repercussions of ongoing nuclear verdicts.
The distinguished panel featured:
- Brad Pinchuk, CEO of Hirschbach Motor Lines
- Steve Collins, Director of Component Sales at Daimler Truck
- Sanjiv Khurana, General Manager of Connectivity/Digital Vehicle Solutions at Daimler Truck
- Rishi Arora, Head of Product & Pricing for Commercial Auto
- Chris Sions, Senior Director of Business Development at Geico
Safety Tech and Reduced Rates
Pinchuk highlighted the continuing challenges smaller fleets face in securing affordable insurance as premiums rise. “We cover the first $10 million of any accident, compared to just $100,000 a few years ago. Large nuclear verdicts complicate this, making accident avoidance crucial with the help of technology like collision avoidance systems and inward-facing cameras,” he stated, noting that over 90% of accidents were not attributed to them.
Collins emphasized that advancements in safety systems and their increasing adoption focus on creating safer roads and a more secure environment for drivers. “Since 2015, our involvement with active driver and safety systems has progressed significantly, evolving from adaptive cruise control to sophisticated radar-based systems that include cameras,” he added. It’s essential to help drivers understand these systems as allies, not replacements for attentive driving.
Insurer Perspectives on Telematics
Sions expressed that telematics data is crucial for determining insurance rates. “The more vehicles are connected, the higher the chances for lower premiums,” he said. Insurance companies are increasingly embracing telematics, and Geico has begun offering dash cams to their customers, collaborating with Daimler to enhance safety features on connected trucks.
Navigating Privacy Concerns
While privacy remains a major concern, the challenge lies in how to effectively utilize data to translate into savings for consumers. “Another hurdle is the need for well-capitalized insurers who understand the unique risks in trucking,” Sions noted. OEMs are vital in providing both essential software and hardware systems.
Nuclear Verdicts and Their Impact
Nuclear verdicts pose a significant threat to the transportation sector, with many believing that trucking is an unfair target. “These verdicts drive up insurance costs, which affects everyone involved in the industry,” Arora mentioned, highlighting the importance of embracing technology like dash cams for driver defense. The hope is that such measures will contribute to reducing insurance costs in the long run.
Integrated Cameras for Safety
The panel agreed that integrated cameras offer superior data quality compared to aftermarket solutions. Collins remarked, “OEM integrated cameras provide precise video capture, essential for defending against claims.” Pinchuk added, “We won’t purchase trucks without collision avoidance systems or hire drivers without onboard cameras.” Having access to this data aids in demonstrating safety measures and can mitigate potential legal issues.
All panel members concurred that, despite the technological advancements and data integration, the responsibility for safety ultimately begins with the driver.
