A new smart fleet insurance product that could cut costs and drive safety for SMEs is now available from Radius Insurance Solutions.

Radius says Onboard can reduce claims by 30% and cut insurance premiums by up to 15%

The new Onboard product is powered by telematics data and can reduce total claims by 30% and cut insurance premiums by up to 15%, according to the independent insurance broker.

Designed for small and medium fleets between two and 20 vehicles, Onboard works in line with Radius telematics devices. After processing driving data, the algorithm sends its insights directly to each individual driver via the onboard app, as well as to the policy holder, to coach driver performance and reduce insurance costs.

The gamification interface for drivers provides a unique score based on their road safety. Employees can also see where they’re placed among colleagues, receiving weekly stats showing improvements in performance and be rewarded. The intuitive software also suggests interventions, as well as e-learning, to keep drivers safe on the road and provide them with ongoing education.

Alongside reductions in the number of claims, it’s also said to speed up claims processing times by 50% and cut claims costs by 20%.

Matt Kirby, Radius Insurance Solutions managing director, said: “This latest product offering from Radius will give fleet operators an opportunity to maximise their telematics devices more than ever, as they can ensure drivers are working in the safest way, whilst reducing insurance costs and claims at the same time.

“Using data from our Radius telematics devices means with this intuitive product we’re armed to help our fleet customers predict and prevent crashes before they even take place.”