Fairmatic is available through authorized brokers and agents, ask your broker to contact us to get started.
When your drivers are safe, you save
Performance-Priced Commercial Auto Insurance
The higher the Fairmatic safety score, the lower the monthly cost. Here's how:
Using Only The Driver's Phone
The SDK uses the sensors on devices your drivers already have to measure how safely they drive.
Fairmatic analyzes driver behavior
Driving behaviors, including distracted driving data,
are available immediately after the trip.
Full transparency, no surprises
The dashboard shows real-time performance.
Premiums are updated every month based on fleet safety.
Higher scores, lower monthly cost
Using driver-specific scores and our machine-learning algorithms (which can predict risk up to 6X*), Fairmatic manages the risk better, and passes the savings on to you.
Frequently Asked Questions
Fairmatic is the first true performance-priced commercial auto insurance that rewards safe driving. It’s re-priced monthly based on your drivers’ safe performance, and gives you real-time visibility into each one’s unsafe driving behaviors. As your fleet improves their safety scores, you could see your rate go down every month.
Fairmatic looks at how safely your fleet actually drives when calculating your insurance rate (as well as other traditional factors like miles driven and number of cars in your fleet). Every month, your price is recalculated to reward your safety improvements.
Fairmatic’s technology sits on your driver’s existing phone, so no extra hardware is needed. It measures the driver’s risky behaviors, such as phone use, excessive speeding, aggressive acceleration, and hard braking, then uses these to create a safety score. This score represents some of the safety-related components of your insurance prices, which can be improved by guiding risky drivers and/or replacing those most at-risk for getting into collisions. Fairmatic then analyzes their driving over time to recalculate your price on a monthly basis.
To help you increase your score, Fairmatic identifies the drivers who need help and provides you with tools to improve their behavior. For example, a recent analysis showed that by using Fairmatic’s tools to coach your worst 25% of drivers, you can help reduce the likelihood of a collision by as much as 49%.
Because Fairmatic’s pricing is based on how safely your drivers actually behave on the road, there needs to be technology to measure that. Integrating the technology into your existing driver app means that instead of hardware to distribute, install, and maintain, Fairmatic can just use the sensors of the smartphones your drivers already have to measure phone use, speeding, and more.
At this time, Fairmatic requires you to have your own driver app. (No app? Email us, and we’ll get in contact when Fairmatic can work for you, too.) Your Fairmatic representative will get you a solutions engineer to help you with your integration, which usually takes less than an afternoon.
Fairmatic insurance uses your drivers’ actual mileage and safety performance in its pricing calculations, so being able to record this information on each driver is key. We do this through a one-time integration of a software development kit (SDK) into your driver app, which supports Android phones on Ice Cream Sandwich+ or Apple devices running iOS 9.0+.
The SDK accesses the sensor data already available through each of your driver’s smartphones to analyze behaviors such as risky phone use, aggressive acceleration, excessive speeding, and hard braking. It also detects collisions and additional driver-related data such as miles driven, location, time of day and road type.
The Fairmatic team provides end-to-end technical support for the SDK integration to make the process seamless for clients. For more information on the SDK, please see our Developer page.
Other insurers lock you into a high annual rate and make you bear the cost for other fleets’ bad driving behavior. Fairmatic takes a different approach. We recalculate your rate-per-mile every month based on your actual safety performance. You save when your drivers are safe, avoiding risky behaviors like phone use while driving, speeding, and aggressive accelerations or decelerations.
Fairmatic’s dashboard also has a suite of tools for fleet managers and drivers to both measure and improve driving behavior and, therefore, insurance rates. This means you have much fuller transparency into your price, and the power to improve it.
Fairmatic uses your fleet’s safety score, miles driven, and several other factors to calculate your cost every month. Assuming the fleet has no major changes, the average fleet cost varies between 3% to 8% or less each month. While the needs of your business will determine the number of drivers covered, miles driven, and so on, you can control your safety score by using Fairmatic’s technology to identify and guide your worst drivers toward improvement. An average fleet could save up to 33% on their cost after a year of guidance and other safety improvements, assuming no other major fleet changes.
Fairmatic gives your clients the tools to identify the riskiest (and most expensive!) drivers and offer them guidance. The best way to help your clients lower their insurance rates is to focus on the riskiest 25% of the drivers, since studies have shown that they usually account for 53% of all collisions.
We identify the key behavioral characteristics that make each individual driver risky, like tendencies towards unsafe phone use while driving or speeding. We then help you construct custom messages to these drivers through your dashboard. A recent study showed that guiding drivers to reduce these unsafe behaviors improved their safety scores by 10-12 points, and resulted in a 49% reduction in risk.
Today, Fairmatic is available for On Demand Network Delivery Companies (ODNC), Transportation Network Companies (TNC), Service/Artisan Contractors (Light Business Auto <25k lbs), Amazon DSP and Last Mile Delivery, Cannabis Delivery and Non-Emergency Transport (NEMT) companies based in the USA.
If you are interested in Fairmatic, drop us a note at firstname.lastname@example.org.
Fairmatic’s technology layer relies on anonymized data and does not retain driver information. All driver data is assigned a random alphanumeric identifier that cannot be traced back to the individual driver. Fairmatic does not hold any personally identifiable information (PII). Instead, PII lives with the clients, so your clients are the only ones with full access to this data.
Your Fairmatic representative may assign you a solutions engineer to help with integration. Contact them directly, or email email@example.com.
For general insurance questions or help with your Fairmatic policy, please contact your broker.
Contact your broker for more details, or click here to find an appointed Fairmatic broker.