The Intersection of AI & Fleet Management: Improving Claims Outcomes at Lightning Speed
That was fast! AI hasn’t wasted any time in transforming the fleet management industry. Not only is it more efficient and streamlined, AI is revolutionizing fleet safety with enhanced risk identification, monitoring, and mitigation in the transportation industry. AI-powered telematics can automatically detect, record, and alert fleet managers to unsafe driving behaviors including excessive speed, harsh braking, and distracted driving. Drivers can even receive real-time, in-vehicle audio prompts to help modify their driving decisions. Advanced AI tech systems can detect mechanical issues, and optimize driving routes through traffic pattern and weather analysis, all in real-time. But what about AI’s impact on claims?
Putting AI into improving CLAIMS outcomes
Dash cams, primarily used to monitor driver behavior, also are being increasingly utilized to protect drivers against false incident claims and ensure compliance with safety regulations. AI-powered dash cam software streamlines footage review, making it easier to identify and share crucial clips with the police or insurance provider in the event of an accident. This goes a long way in expediting the claims process and determining fault or liability accuracy.
The ethics of AI
We should not ignore the ethical considerations of decision-making algorithms, liability, and making sure there is an adequate balance between human judgment and machine autonomy.
What does the future of AI in fleet management look like?
The good news is that the more data AI takes in, the better its predictions. That could lead to advancements in improved vehicle-to-vehicle communication. Fleet vehicles could work together to avoid real-time road hazards like accidents and traffic jams.
Autonomous vehicle technology, despite being responsible for 392 crashes between July 2021 to May 20221, continues to see advancements including adaptive cruise control with automatic braking systems. That may translate into safer and highly intuitive automated vehicles that require minimal driver and fleet management efforts.
Could AI bring the end to vehicle crashes?
I don’t see that in the near term, but wouldn’t that would be an interesting development for the Commercial Auto Insurance Market!
1 NHTSA
Terri Moran
Insurance industry veteran Terri Moran leads the underwriting and operational strategies for the MOVER’S CHOICE program. Throughout her career, Terri has held roles in leadership, underwriting and marketing with national insurers. A staunch industry advocate, she has served as a member of the WSIA Internship Committee, working to attract young professionals to career opportunities.
In her spare time, in addition to enjoying her family, she is a Member and past Chair of the Board of Directors for the Surplus Lines Association of California.