How can USI help our company better manage the driver shortage and turnover in the trucking industry as well as improve our insurance pricing?
USI’s Driver Risk Assessment helps your company select and retain quality drivers while avoiding costly claims. By reviewing drivers, we can help Insureds avoid losses and demonstrate to underwriters that you are a better risk profile deserving of improved pricing.
By reducing clients’ turnover by 5–10 drivers annually, USI can help companies cut $50K to $100K in recruiting and onboarding costs.
We’ve estimated the financial impact for you. Feel free to update the assumptions.
- Identify high risk drivers that could lead to costly crashes, increase value of settlements, and result in higher driver turnover
- USI will provide recommendations to assist in retention of borderline drivers to aid in retention efforts
- Improved negotiating terms with underwriters with positive premium impact
Using the Motor Vehicle Record (MVR) and driver information your company provides, USI identifies high-risk drivers that could lead to costly crashes, increase value of settlements, and result in higher driver turnover. We will also provide recommendations to assist in retention of borderline drivers to aid in retention efforts. Through implementation of remedial programs, driver turnover can be reduced, and insurance costs can be positively impacted.
Driver profile components include:
- Fleet demographics
- Tenure with Company
- Total years of known Commercial Driver's License (CDL) experience
- Violations and Crashes on MVR (If the Motor Carrier PIN and loss runs are provided, USI will include this in the assessment)
Through data analysis, we work with clients to develop corrective action plans where immediate attention is needed. Our evaluation aids in the preparation of a comprehensive narrative that highlights positive trends and remedial initiatives. This ultimately lends to more productive negotiations with the insurers and prevention of declinations.
I’d like to explore further how USI help our company better manage driver selection while dealing with a skilled driver shortage in the trucking industry as well as improve our insurance pricing.
In order to conduct our comprehensive risk assessment, USI will need just a few pieces of information from you, including an Active Driver Census, in Excel format, to include company drivers and owner operators, legal name, license state and driver’s license number, date of birth, date of hire, and years of cdl experience. Additionally, USI will need your most recent MVR, auto liability loss runs for the last five years, as well as your CSA/SMS Motor Carrier PIN Number.