Daimler Truck Financial Services and Geico launch connected insurance program to lower premiums
Key takeaways
- Daimler Truck Financial Services and Geico launch a connected insurance program using real-time telematics data.
- Freightliner and Western Star fleets can save up to 10% on insurance by sharing vehicle telematics.
- Data-driven coverage helps fleets lower costs and improve safety as insurance expenses keep rising.
Daimler Truck Financial Services recently launched Connected Insurance, a new data-driven insurance offering for commercial truck fleets. The company, which provides financing, leasing, and insurance solutions tailored to commercial vehicle operators, is partnering with Geoico to reward safe driving using real-time Detroit Connect telematics data.
Eligible Freightliner and Western Star customers can voluntarily share vehicle telematics without needing additional hardware, helping to streamline underwriting and claims while qualifying for premium discounts of up to 10%.
The offering comes as rising insurance costs rank among the top challenges for smaller carriers. By leveraging connectivity, fleets can reduce one of their largest operational expenses and enhance risk management.
“Real-time data from Daimler Truck’s telematics platform allows us to better assess risk, reward safe driving, and deliver meaningful savings to our customers,” Chris Sions, Geico’s head of partnerships, said. “Expanding our commercial trucking insurance nationwide requires strong partnerships like the one we’ve built with Daimler Truck Financial Services.”
