TruckerCloud Launches FleetFile Predictive Crash Risk Score for Commercial Auto Insurance
TruckerCloud has launched FleetFile, a predictive crash risk score designed to help commercial auto insurers assess and manage risk more effectively. The tool leverages telematics data already generated by fleets across various systems, normalizing the information into a single scale that can be used during quoting or renewal processes. This innovation aims to address challenges in using fragmented driving data from multiple sources. The commercial auto insurance sector has experienced underwriting losses for 14 consecutive years, with over $10 billion lost since 2023 despite rate increases. FleetFile is positioned as a solution that can improve profitability by enabling insurers to apply consistent risk scoring across their entire book of business using existing data. TruckerCloud's platform connects to more than 200 telematics systems and serves over 70 insurance companies, making it well-positioned for adoption. The company is currently filing FleetFile with state regulators as a rating variable.
Topics: commercial auto insurance data normalization fleet management telematics