Risk management

Solution Overview

With consideration taken to higher claim rates of commercial vehicles insured by insurance companies, ChainwayTSP takes advantage of the technologies of telematics to collect vehicle driving behaviors and driving data, and by data exploration and analysis, to find the root causes of high risks in fleet so that management troubles can be solved from their sources, thus helping improve fleet risk management and finally reducing claim rates of insurance companies.

Driving Data
Data Analysis
Management Improvement
Cost Reduction

Driving Behavior Scoring Model

Risk Mileage

Closed-loop Risk Management

It has independently researched and developed the world’s first driving behavior scoring model and driving behavior scoring model base for differential scoring based on different vehicle models.

More Diversified Scoring Results
Capable of offer scoring for any driving routes, any vehicles and any fleet.
More Differential Scoring Mechanism
Set up a scoring model and database for different models, and compare the scores of different classified vehicles horizontally.
More Scientific Drivers Scoring
Based on data such as traffic violation, to offer drivers’ safety credit scoring, which benefits the restriction of drivers’ driving behaviors.
More Extensive Data Dimensions
Multi-dimensional data sources are used to reflect the individual differences in driving behavior accurately.

Vehicle risk insurance data

Vehicle insurance claim data

Driving status data

Vehicle violation data

Basic vehicle information

Geo data

Meteorological data

Basic driver information

Driving behavior data

The concept of risk mileage is put forward for the first time, and the completion risk mileage model is developed to distinguish the average claim amount per unit of risk mileage between different fleets, different models and different vehicles, so it is one of the most important reference indicators for rate determination and vehicle insurance differential pricing after the fee reform.

Risk mileages for different fleets
Risk mileages for different models
Risk mileages of different vehicles

Fleet	Driving mileage	Risk mileage	Price of unit risk mileage
Fleet A	10150	10111.0	1.64
Fleet B	3646	4022.4	4.35
Fleet C	3567	3588.2	5.8

Model	Total vehicle number	Price of unit risk mileage
Model A	16	0.90
Model B	46	0.86
Model C	18	0.59

Plate number	Driving mileage	Risk mileage	Price of unit risk mileage
*SPA195	6391	6448.6	24.07
*AV487J	9843	1274.6	10.62
*B683V2	6012	7114.6	4.20

Professional fleet managers and operating teams customize management solutions according to the fleet's business characteristics and management needs. The “fleet closed-loop management service” has been uniquely created to meet diversified demands of fleet in different industries and to improve operating efficiency, reduce operating costs and promote fleet upgrading management mode.

Prior Prevention

Statistical analysis of driving behavior to effectively control abnormal driving behaviors and avoid the occurrence of major accidents from their sources.
In-incident Monitoring

Monitor driver's driving behavior in real time and improve driver's driving habit by APP intelligent reminder.
Post-Analysis

To make in-depth analysis of causes of accidents, and to propose improvement actions; by analysis of driving data, to carry out safety education and training for drivers on a purposed basis so as to reduce bad driving behaviors. In-depth analysis of the cause of the accident and propose improvement measures;through the analysis of driving data, targeted safety education and driving training are carried out for drivers to reduce their bad driving behavior.

A world famous beverage company’s transportation fleet

Reducing vehicle insurance claim rates with the help of risk control management

The beverage company’s fleet is mainly used for urban beverage distribution. The fleet owns Dongfeng, Naveco, Changan and other motor models. As the company lacked its safety management system, so there were constant fleet traffic accidents and increasingly high vehicle insurance claim payment rates. In 2016, an insurance company invited ChainwayTSP to carry out risk management via commercial telematics so as to reduce the claim rates of the insurance company.