Movingdots is a technology subsidiary of Swiss Re developing data-driven  mobility solutions for insurers, car manufacturers and platform providers  globally. Overhaul is the industry’s first and only software-based, supply chain visibility, integrity, and security solution for the world’s leading  brands. Overhaul’s TruckShield platform will work with Movingdots’  telematics solution Coloride to enhance data gathering and machine  learning techniques, allowing carriers to detect and correct risky driver  behavioral events, helping ensure on-time shipments while also lowering  costs for insurers. 

According to the National Highway Traffic Safety Administration (NHTSA),  in the US in 2019 more than 118,000 large trucks were involved in crashes  resulting in an injury, a 5% increase from 2018. As a result, motor carrier  coverage has risen dramatically in recent years, with premiums projected  to rise more than 14% in 2021 and yearly coverage rates as high as $30,000  per year in some cases.

By partnering together, Movingdots and Overhaul  will ultimately lower insurance costs and premiums by assisting clients in  identifying risky behavior and changing it – improving their overall risk  management by adopting better driving behaviors and helping to reduce  the number of accidents. 

“Coloride technology can coach drivers to implement safer driving  behaviors, preventing accidents on the road,” said Donato Genovese,  Movingdots’ CEO. “By joining forces with Overhaul, many more  commercial fleets will get access to this technology. Drivers will see their  trip details including risk events like excessive speeds and will have an  overview on how to improve their driving style. We are thrilled to continue spreading safety and innovation in mobility through cutting-edge  technology together with Overhaul.” 

Using the trucking industry’s first and only app-based risk management  technology, insurers can rely on TruckShield and Coloride to showcase  fleet safety and deliver reliable data that can be critical when determining  insurance pricing. Coloride’s events detection software algorithms can  identify driver behaviors such as speeding or harsh braking; coupled with  TruckShield’s ability to implement corrective coaching, carriers can  reduce future risks and accidents through effective actions. 

“Motor carrier owners and operators alike are facing astronomical  insurance rates and having to reallocate funds and resources, only  creating more hurdles and roadblocks for the industry,” said David Broe,  COO of Overhaul. “Our work with Movingdots is helping revolutionize a  trucking industry that’s in need of any opportunity to gain a competitive  advantage, be it increased visibility, on-time deliveries or lower insurance  premiums. We’re proud of our ongoing innovations with the Movingdots  team and look forward to standing by our trucking clients across each and  every route.”