that Overhaul uses day-in , day-out . Bringing this capability to partners in the insurance industry is a natural extension of the business we ' ve built .
Q . YOU ' RE A SOCIAL ENTREPRENEUR . WHAT IS THAT ?
» Social entrepreneurs are innovators who put creating value for society and the businesses they create on equal footing . We believe that doing well while doing good is not only achievable , but it is a ‘ must ’ to create a sustainable world . In the case of Overhaul and my specific role , we are initially focusing our insuretech value proposition on safety-related solutions . We want every motor carrier we work with to have the tools and business process in place to bring their drivers home safe at night . Helping these businesses to institutionalise safety cultures is good for business and for the communities where they operate .
Q . HOW CAN INSURTECH IMPROVE FLEET SAFETY ?
» The fleet-safety data we capture and share with insurance partners is more granular than ever . Insuretech aligns that operational outcomes data ( less-risky behaviour , fewer incidents , etc .) with the financial incentives that insurance can offer . Companies committed to safety can now be rewarded with lower commercial auto insurance premiums by proving with operational data that they are sustaining a safety culture . Using insurance savings to invest in other aspects of a trucking company safety programme is a win-win for everyone .
Fleet safety is also about coaching and , fundamentally , about building strong relationships with commercial vehicle drivers , who are in short supply . Insuretech solutions like ours are creating better two-way conversations between drivers and motor carriers that reinforce driver wellness and retention , while creating a safety culture .
Q . HOW IS LOGISTICS INSURTECH ADVANCING ?
» Recent years have seen an increase in an insuretech approach to supply chain issues , with companies tying the security of shipments to an insurance product .
Insurance companies used to offer a discount or special terms if certain security protocols or technologies were in place . Now , there is more of a direct bundling of technology and insurance , meaning if you buy the tech , you must buy the insurance and you ' re unable to unbundle the two .
Also , many of today ' s offerings are based on the offer of insurance with the technology as the secondary , but mandatory , purchase .
There are also technologies that are looking to embed a risk transfer solution directly into the tech purchase and are included in the tech cost .