Insurtech underwriting agency Mercurien Insurance Pty Ltd (AFSL 408284) today announced that it will offer telematics-enabled, motor fleet insurance to the Australian market, with the offering to be backed by Zurich Australian Insurance Limited (Zurich).
Mercurien’s insurance offering will build on its proprietary BetterDriverTM telematics technology, and use the insights that BetterDriverTM delivers around fleet safety, risk and taxation outcomes to help insurance brokers deliver value to their clients.
“BetterDriverTM is a best-in-class telematics offer developed for Australian conditions and it assists organisations and drivers in managing risk,” said Mercurien CEO and Co-Founder, Michael Graham.
“BetterDriverTM measures the quality of driving across multiple parameters including braking, cornering, acceleration, speeding, length and time of journey and specific geo- locations. The outcome we seek is fewer injuries, fewer crashes, lower costs, less downtime, reduced fuel usage, and enhanced asset utilisation. We are very excited to now be able to combine the insights from BetterDriverTM with an insurance offering, backed by leading motor fleet insurer Zurich.”
Andrew Murrie, COO and Co-Founder of Mercurien said: “Australian fleet operators are constantly on the lookout for better ways to manage their fleets and with our simple, cloud- based solution they can assess their operations, from driver behaviour to tax credits, in near real-time. This enables them to assess and manage risks as they emerge which results in a lower cost, lower risk fleet.”
“We designed BetterDriverTM with the fleet manager and operator in mind. We saw the issues with Fringe Benefits Tax, the opportunities for Fuel Tax Rebates and we applied for and hold Class Rulings with the ATO for Fringe Benefits Tax Logbooks and Fuel Tax Credit rebates ensuring users comply with the relevant Act. The result is a lower cost, lower risk fleet.”
Giles Crowley, Head of Commercial Insurance, Zurich General Insurance Australia & New Zealand, said: “As a leading motor fleet insurer we’ve seen first-hand the benefits of telematics in terms of driver safety, fleet maintenance and efficiency. We look forward to working with Mercurien and believe their offering will complement our broader motor proposition.”
Steven Ord, Chief Distribution Officer, Zurich General Insurance Australia & New Zealand, said: “We are always on the hunt for agencies that can help bring innovative solutions to our broker partners and their customers. We are looking forward to working with Mercurien to explore the potential of their offering.”
According to Michael Graham the future of motor insurance is data driven from sensors in smart devices, smartphones and embedded in vehicles themselves. “The ability to measure and manage data for risk and safety will become paramount,” he said.
“The Workplace Safety and Duty of Care regimes are tightening everywhere and we think that there is a great opportunity for insurers to work with data to create the future of insurance. Working with the team at Zurich showed us that they were the right partner – and vice versa.”