With supply chain issues making headlines as the pandemic continues, trucking has been thrust into the spotlight. The industry is booming, and companies are upsizing their fleets to meet the increased demand. In fact, large fleet truck is outpacing the growth of smaller fleets, and opportunities abound.
There’s plenty of competition in this growing insurance market. Here’s how value-added services provide an edge in the quest for market share.
Preparing for the opportunities ahead
Most commercial auto insurers specialize in nonfleet, or smaller size fleets. Insurers that serve larger fleets are experts in motor carrier needs and highly specialized, niche services.
Nationwide E&S’s Pro Fleet team provides solutions for large motor carrier fleets (51+ units) ranging from preferred, highly focused risks to more distressed operations. Pro Fleet offers individualized and flexible solutions, including a full range of competitive coverages, which entail auto liability, general liability, physical damage, cargo, non-trucking liability, excess auto liability up to $5 million CSL and more depending on need.
To serve the needs of large commercial fleets, Nationwide created a new and highly specialized team with decades of cumulative experience in this niche market.
“To enter and compete in this marketplace as a provider of large fleet services, we had to bring a very experienced team to the table,” says Beth Hannon, senior director of Commercial Lines Auto Fleet at Nationwide. “Our Pro Fleet underwriting team understands very large risks. This includes the importance of dedicated expertise in risk management and claims handling, as well as, cultivating the relationship with the agent and trucking business owner.”
Services that set us apart
Hannon explains that large fleet trucking companies are looking for elevated service offerings that meet their unique needs. For these insureds with more than $1 million in written premium, Nationwide offers white glove service. This includes a dedicated underwriting team and operations services, which may include unique support with our Claims team and Risk Management Services consultants to help isolate issues and work with a motor carrier to reduce risk within their fleet.
Nationwide’s Risk Management Services team provides industry-leading consulting to help insureds, safety managers and fleet managers decrease the frequency and severity of accidents, build and maintain a strong safety culture within their organization and ensure they are complying with federal regulations.
“Through our Risk Management Services team, we’re providing the customized best-in-class support that large fleet operators demand,” notes Hannon. “Our comprehensive portfolio of risk management services, which includes continuing education opportunities, ongoing communication and expert safety program development, is tailored to meet each client’s unique needs.”
Nationwide understands that commercial truckers must protect their vehicles and businesses from a wide range of potential hazards, some of which are outside their control. To support them in this critical effort, Nationwide offers enhanced telematics tools to large fleets through two leading providers: Lytx and Samsara.
These artificial intelligence-based video telematics solutions provide smart dash cam technology that has a proven track record of increasing the efficiency, safety and sustainability of large commercial trucking fleets.
Adding value for our partners
“Nationwide is highly respected in the commercial auto industry because of our name, expertise, brand and financial backing,” said Hannon. “Large fleet customers are sophisticated and understand how important it is to align with a strong and stable insurer. That’s why it was a natural fit to offer large fleet within our portfolio of offerings.”
Nationwide’s strong reputation, expansive large commercial fleet coverage options, enhanced services and customized support add up to a lot of value for large fleet customers who are looking for an insurer that stands out from the crowd.
“Our large fleet business is growing every year despite a very competitive market,” notes Hannon. “We believe the benefits of writing with us set us apart, and we look forward to providing exceptional service to even more large fleet customers in the years to come.”
Learn more about Nationwide’s large fleet offerings here.