Mercia Fleet Management has successfully reduced insurance expenses by up to 25% through the implementation of AI-enhanced driver profiling and accident damage assessment techniques.
Collaborating with Konsileo Commercial Insurance, based in London, Mercia conducted a thorough analysis of its client’s extensive vehicle fleet, consisting of 1,000 vehicles. As a division of Fleet Evolution, specializing in electric vehicle (EV) salary sacrifice schemes, Mercia identified several effective strategies that contributed to the reduction in insurance premiums.
Key interventions included comprehensive driver profiling and targeted remedial behavior training, particularly focusing on spatial awareness for drivers involved in car park or kerbside incidents. Additionally, Mercia implemented rigorous license checks and enhanced vehicle risk management and assessment protocols.
A notable finding from the analysis was the favorable safety record of EVs compared to internal combustion engine (ICE) vehicles, resulting in lower accident rates despite slightly higher repair costs per vehicle. Overall, the reduced frequency of incidents translated to lower aggregate repair expenses for EVs.
Andrew Leech, Head of Mercia Fleet Management and founder of Fleet Evolution, emphasized the innovative approach taken in partnership with Konsileo: “We conducted a meticulous cost analysis to pinpoint interventions with the highest potential to mitigate accident levels and reduce fleet repair costs.”
Highlighting the effectiveness of AI-enhanced driver profiling, Leech added, “By utilizing a traffic light and points-based system, we identified high-risk drivers and provided tailored remedial training where necessary.”
Mercia’s proactive measures across its fleet yielded a significant 25% reduction in insurance premiums, counteracting the industry-wide trend of rising insurance costs.
In addition to its operational advancements, Mercia is offering a series of complimentary EV workshops throughout July. These workshops, designed to dispel myths and provide practical insights, reflect Mercia’s extensive experience in managing EV fleets.
Andrew Leech commented on the workshops’ reception: “There has been strong interest from businesses looking to transition to electric vehicles but seeking comprehensive information before committing. We still have availability for those interested in attending and closing their knowledge gap.”
Mercia’s initiative underscores a commitment to innovation in fleet management and sustainability, offering tangible benefits through data-driven strategies and educational outreach.
