20 Florida Pool Prosm • November 2023 FSPA CHAPTER NEWS By David Griffiths, Insurance by Ken Brown / dgriffiths@insbykenbrown.com GPS - Global Positioning System The insurance world essentially expects you to have GPS installed in your vehicles if you have anything close to a fleet of trucks. They also want it to be monitored and used as a critical tool in your management of drivers/employees. The best way to get attorneys out of our business is to do all we can to prevent accidents and injuries! The business world can only digest so many rate increases and the insurance world needs to find a way to make this line of business profitable (or at least closer to it). Did you know that two of the largest insurance companies in America will no longer insure commercial vehicles in Florida? Yes, it’s true. Allstate and Hartford Insurance have fully withdrawn from the Florida marketplace. More will follow if nothing changes and there are many other carriers which have incredibly tightened their underwriting of what an “acceptable” risk is and what counties they’ll even do business in. So, please embrace this tool and technology and use it to your advantage! There are many compelling reasons to embrace GPS and make it a valuable tool of your business. Make it an asset, not simply another expense. Here is more information about GPS and how it can make your business better! You will be amazed at all of the benefits! Following that is an outline of how to select the right GPS vendor for you and your business. 1.Navigation and Route Optimization: GPS provides real-time navigation and route guidance, helping drivers find the most efficient and fastest routes to their destinations. This reduces travel time and fuel consumption, leading to cost savings. 2.Fleet Management: GPS allows companies to track the location and movement of their entire fleet. This helps improve fleet management by optimizing routes, monitoring driver behavior, and scheduling maintenance more effectively. 3. Increased Efficiency: GPS systems can monitor vehicle performance metrics such as speed, fuel consumption, and idle time. This data can be used to identify areas where drivers can improve their efficiency, ultimately INSURANCE UPDATE
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