What is Zego's Risk Management Academy?
As a fleet manager, managing risk is key to running a successful fleet. From reducing your claims frequency to training your drivers to be safer on the road, your performance goes up when your risk factors come down.
We created the Zego Risk Management Academy to help businesses like yours to reach their full potential. But what exactly is it, and what does it do?
Zego’s Risk Management Academy in a nutshell
The Risk Management Academy (RMA) is a programme designed to help fleets improve their performance. Using real behavioural data, it helps you to identify opportunities to reduce risks and increase efficiencies across your entire fleet.
Why does this matter? With a safer and more efficient fleet, you’ll have fewer incidents to report. And when you do, it’ll be quicker and easier to resolve them.
That means less paperwork for your team, and lower costs involved with your claims process. And because your risk factors will be reduced, you’re likely to pay less when you come to renew your insurance.
“Managing risk effectively and proactively is at the heart of running a safe and productive fleet. The Zego Risk Management Academy is about sharing best practices and collaboratively using our unique risk insights with our fleet managers. Together we can make a difference for everyone sharing the road each and every day. Our aim is to work with you and support you through operational challenges to ensure we can impact your performance.”
- Ryan Sharp, Road Risk Manager at Zego
How do I join the Risk Management Academy?
To gain a place in the academy, you’ll need a minimum level of telematics registration, and you’ll need to complete a risk management profile report. This helps us to assess your fleet’s current risk profile, including any measures you’re already taking.
The report generates a score, which indicates whether you should be enrolled in a 4, 8 or 12 week programme. These three options are designed to offer different levels of support depending on your risk profile.
- Light Intervention — a 4-week education improvement programme for fleets with a low risk profile.
- Medium Intervention — an 8-week programme for medium-risk fleets.
- Intensive Intervention — a 12-week programme for fleets with the highest risk factors.
What happens then?
Once your fleet has been placed into the relevant programme, we’ll review any telematics data you have, along with the results from your risk profile report. You’ll be assigned a Risk Advisor (RA), who will work with you to create a plan that’s specific to your fleet. This plan will help to educate and support you as you work towards an improved fleet performance.
Here are just a few of the ways we’ll help you:
- On-road driver assessments and coaching
- Guidance on how to use behavioural data
- Improvement plans for poor drivers
- Fleet risk seminars
- Post-accident interviews
- Individual driver risk profiling
- Improvements to your claims process
What results can I expect to see?
This depends on your fleet’s current risk profile and the amount of support you might need.
To help give you an idea, here are a few real-life examples of businesses that have worked through our programme for 3 moths.
Fleet #1 performance results*:
- Number of claims decreased by: 75.0%
- Claims frequency decreased by: 21.1%
- Claims cost decreased by: 57.6%
Fleet #2 performance results*:
- Number of claims decreased by: 84.6%
- Claims frequency decreased by: 18.1%
- Claims cost decreased by: 8.7%
Fleet #3 performance results*:
- Number of claims decreased by: 70.5%
- Claims frequency decreased by: 69.4%
- Claims cost decreased by: 48.7%
*the results are valid for the month of June 2022
“It has changed how I see risk work within insurance companies - if you can improve a driver’s behaviour, then you can reduce costs. If you can reduce costs then everything moves in the right direction” - Peter Livings, Fleet Manager
Ready to start improving your fleet’s performance?
Learn more about the Zego Risk Management Academy, or get a free quote for your fleet. It only takes a minute, and we’ll walk you through the enrollment process.
Want to join the Risk Academy?
You can learn more about the Zego Risk Management Academy, or get a free quote for your fleet. It only takes a minute, and we’ll walk you through the enrolment process.
Alternatively, schedule a free call with a Zego Road Risk Manager today. Get expert guidance on fleet risk management, craft a safety action plan, and potentially reduce insurance costs significantly – a crucial step for your fleet. Please send an email to riskmanagement@zego.com.
Need help? Contact support.fleet@zego.com. We're happy to help. 🙂