Keep control of your assets

“Running a heavy commercial fleet is a costly business, associated with many risks,” says Morné Stoltz, head of business insurance at MiWay. “Fleet owners face the potential risks of hijacking and road accidents. They also risk incurring vehicle damage and losing fuel and goods in transit through pilfering, outright theft and negligence.”

He adds: “These risks increase when driver wellness is neglected and fatigued or ill drivers are made responsible for valuable payloads.”

It is thus that, as a benefit of its Heavy Commercial Vehicle insurance solutions, MiWay Business Insurance gives its clients free basic tracking devices and preferential rates on optional advanced tracking systems.

“With advanced systems, the fleet owner has the ability to track more than the location of individual trucks; they can identify individual drivers using biometric tags to determine which driver is using which truck. This allows for individual driver performance monitoring and supports HR time logs.

“With impact-alert features embedded in the advanced tracking device, the fleet owner is also able to monitor which drivers are responsible for minor accidental damage,” Stoltz says.

“Live-stream, in-cabin cameras support risk management and compliance, allowing the fleet owner to determine levels of driver fatigue,” he adds.

Fleet owners can also opt to improve tracking of cargo by placing small mobile tracking units among the goods in transit, along with mobile electronic locks that will unlock only when the cargo arrives at its specified destination.

To improve cost control and eliminate fuel pilfering, new smart fuel-management systems allow fleet owners to determine how much fuel is in the tank at any given time, and receive an alert when the fuel cap is opened. “This reduces losses and helps the transport company optimise route planning and fuel stops,” notes Stoltz.

“As a risk-mitigation partner for South African business, MiWay Business Insurance is enthusiastic about the range of benefits now available to fleet owners through GPS-enabled Internet of Things and machine-to-machine tracking and management devices.

“These allow transport companies to significantly improve their operational cost control, asset management and staff wellness, in addition to helping reduce the risks commonly encountered within the transport sector,” Stoltz concludes.