Wednesday, October 5, 2022
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HDVI expands into Arizona | Insurance Business America



HDVI expands into Arizona

High Definition Vehicle Insurance (HDVI), a provider of commercial auto insurance, has expanded into Arizona, where its telematics-based insurance products and safety coaching will now be available to small and midsize trucking fleets.

Approximately 85% of Arizona communities depend exclusively on trucks to move their goods, according to a study by the American Transportation Institute. The study found that in 2019, the trucking industry paid about $719 million in federal and state roadway taxes – nearly half of all taxes owed by Arizona motorists.

“The trucking industry is a vital pillar of the economy despite an extremely challenging business environment consisting of historically high fuel costs, driver shortages and increasing insurance premiums,” said Chuck Wallace, co-founder and CEO of HDVI. “Our sophisticated safety and risk management tools help these small to midsize fleets protect their drivers, operate more efficiently, and save on insurance costs.”

Read next: HDVI partners with Munich Re, Spinnaker

HDVI Shift, the company’s commercial trucking insurance coverage, uses onboard telematics data to provide small to midsize fleets with real-time risk models. HDVI Shift helps fleets save up to 12% on their monthly premium based on real-time driver safety, the company said.

During the first year of HDVI Shift’s availability, fleet customers earned better-than-average safety scores, with 30% fewer predicted crashes. More than 75% of its customers saw an improvement in speeding or hard braking in the first six months. That number rose to more than 90% after nine months, HDVI said.



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