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How to Reduce Your Expenses
As a fleet owner, your day-to-day costs can quickly add up. What you don’t know is there are further hidden, expensive...
Read moreWith the implementation of dashboard cameras and AI telematics, driver safety has improved immensely while reducing accident costs and insurance fraud.
At a time when supply chain issues and workforce shortages abound, fleet-dependent organisations across a variety of industries must protect drivers and the business against unnecessary costs and potential safety issues.
Integrated video telematics technology can help. According to the Verizon Connect 2024 Fleet Technology Trends Report in Australia and New Zealand, 78% of those in all industries find video telematics to be very or extremely beneficial. (1) Some of the greatest benefits fleets can realise from integrated video telematics adoption include a reduction in accidents and in false claims, which in turn can lead to increased driver safety and reduced insurance costs.
“I chose to stay with Verizon Connect mainly because of the great customer service. All of the staff I deal with are top-class. I actually look forward to our interactions.” JD Theobald, National Transport Manager
Let’s explore these benefits in greater detail.
What is video telematics?
Video telematics is a specialised application of telematics technology that combines video recording with traditional telematics data collection. Cameras and sensors are used to capture video footage from inside and outside a vehicle, along with other data such as GPS location, speed, acceleration, and more. This data provides a comprehensive view of a vehicle’s operation and the driver’s behaviour.
How AI video telematics boosts driver safety
Modern video telematics uses AI technology to give fleet managers more visibility into what happens inside and outside the vehicle. It also enables fleet managers to analyse the data gleaned from the video footage and receive notifications that prioritise viewing of incidents categorised as unsafe. AI Dashcam alerts drivers in real time to help reduce accidents and transform fleet safety.
Visual information provides a factual account of unsafe driving behaviours (tailgating, stop sign violations, near-misses, distracted driving, speeding, etc.) to give both managers and drivers a better sense of what needs improvement. This allows managers to:
- Tailor coachable moments based on each driver’s needs
- Reinforce safe-driving policies as part of accident-reduction efforts
- Instantly reward drivers (as part of an incentive program) for demonstrating safe driving habits
How AI video telematics helps to avoid unnecessary costs
Among the top goals achieved through use of video technology, protection from false claims (69%) and improved driver safety (72%) topped the list for all respondents, followed by the reduction of accidents (59%) and insurance costs (44%) (2).
False claims and accidents can have a negative impact on an organisation’s bottom line. Video telematics can help fleets reduce the likelihood of crashes in the first place, reducing accident-related costs as a result. And, if a crash does happen, a recording of the incident can be used as evidence to reduce false claims and help keep insurance premiums from skyrocketing. Video footage helps to show the full, unbiased context of driving events, such as driver behaviour, weather conditions, vehicle positions and how an incident unfolded.
What industry experts are saying about Verizon Connect video telematics
Lounge Lovers has been on a mission to offer accessible, affordable and design-led furniture to the people of Australia. The company aims to keep costs down for its customers by cutting out the middleman and shipping directly to the door.
Like many fleet-reliant businesses, Lounge Lovers wanted an extra pair of eyes on the road. With drivers behind the wheel or at customer sites, it was not always easy to build an accurate picture of the mobile operation.
National Transport Manager JD Theobald needed a solution that allowed him to monitor vehicle location quickly, easily and provide actionable insights into operating costs.
A reliable tracking solution could also allow JD and his team to assess driving styles, tailor coaching, and improve safety and efficiency.
With Verizon Connect Reveal and Integrated Video, the company can monitor the location and status of vehicles in near real-time. With data gathered on speeding and harsh driving, they can also coach safer and more fuel-friendly driving styles across the company’s fleet.
Verizon Connect helps Lounge Lovers gain a complete picture of its operations – and drive safety and efficiency across its fleet in a number of ways.
Integrated dashcams with AI classification allow staff to assess and address unsafe incidents on the road within minutes, without having to trawl through hours of footage.
“Our new AI dash cams have already paid for themselves.” – JD Theobald, National Transport Manager.
Want to learn more about how your fleet can benefit from video telematics? Download our free infographic Top 9 benefits of smart video for your business
What to look for in video telematics software
For fleets considering an investment in video telematics, be sure to look for the following features:
- Dual footage view: Dual view of driver-facing and road-facing video via desktop or mobile app.
- Streamlined video download: Ability to download and share footage as an MP4 file, along with valuable metadata such as the vehicle name, address, date and time, which can provide helpful context.
- Near real-time notice: Notifications to view a video within minutes of when an incident occurs.
For more information on how video telematics can help your fleet, download our free eBook How smart video fuels smart business or schedule an online demo today.