AXA XL has announced it has added a fleet management benchmarking service to its loss prevention services for its Construction insurance clients in North America.
The purpose of this service is to help contractor clients see how their own corporate fleet programs and vehicle loss history compared to peers.
Greg Troxell, Senior Risk Engineer on AXA XL’s Construction Insurance team, explained: “Through this service, we intend to examine contractor fleet management practices with the purpose of comparing to other insureds. The intent is to allow best practices to be acknowledged, while pursuing improvement opportunities for our clients.”
Through this service, following a risk engineer’s analysis, AXA XL clients receive a detailed report, along with an anonymized comparison to other similar contractors.
Following a debrief and alignment on the report, recommendations are provided where needed to assist with the client’s continuous improvement to their fleet safety program.
AXA XL’s Construction risk engineering team also reviews five general categories as part of this benchmarking service. These include corporate fleet program & operations; fleet vehicle management; technology, loss experience & exposure; and SAFER score.
“Costs and loss experience associated with operating fleets continue to be an ever-increasing challenge for clients. We expect the benchmark process to afford them an opportunity for improving the fleet risk management and position them to be more competitive in their market through potential cost reduction results,” said Troxell.
Senior Risk Engineer Brian Lordson added: “Fleet Risk Management remains to be a transitioning risk focus for many of our clients.
“There has been a general understanding of roadway safety, but with increasing vehicle costs, medical costs, and large verdicts, our Insureds have applied a new focus in developing their fleet management programs.
“We hope that this benchmarking service will offer feedback to our customers and identify opportunities for improvement.”
