Lumley’s Appetite For Innovation Does It Again

Lumley’s Appetite For Innovation Does It Again
- Benefits for all road users commended

Helping truckies lower their accident rates and damage costs has given Lumley another taste of major success at this year’s insurance industry awards – the IBANZ General Insurance Industry Awards.

Lumley was judged the industry’s “Innovator of the Year” for the second time in four years.

This time it is for the development of an online system that helps fleet transport operators reduce their crash rates as well as their operating costs.

Lumley scooped this year’s innovation award with “Torque Data” which has already been adopted by 61 commercial transport operators around the country. Torque Data is a key product in the Fleet Risk Management division’s suite of services and programmes and is provided free to all Lumley clients. It is an interactive online fleet risk management tool developed exclusively for fleet operators with help from operators themselves and their insurance brokers.

The independent award judges commended the way Lumley involved brokers and transports operators in the development and trialing of Torque Data, and said: “Its ability to help reduce accidents benefits not only insurers, brokers and transport operators, but all road-users in general.”

Through the Torque Data system, transport companies can track everything from staff training details and drug test records to the histories of individual vehicle repairs and maintenance. It allows claims to be submitted electronically, and analyses crash incidents. User companies can also benchmark their accident and vehicle maintenance performance – even their vehicles’ actual wear and tear - against other industry operators. Torque Data is a critical component in Lumley’s Fleet Risk Management programme.

This year’s award and another in 2007, which was for its In-Vehicle Camera initiative, have helped establish Lumley as the “big rig” in commercial vehicle insurance based on its partnership approach, with brokers and their clients, to improving fleet safety performance. It is about identifying trends and applying solutions.

Manager of Lumley’s Commercial Motor Centre of Expertise Ian Taylor says this award for industry innovation is immensely valued because it endorses and reinforces what fleets operators are telling Lumley – they have a special tool that adds real value.

“Torque Data is a great example of our understanding of the transport sector and how we can respond to its needs with practical solutions. “

“The award shows we are not taking our leadership in commercial motor insurance for granted, and continue to adapt and innovate so that our offerings remain the benchmark for motor insurance in New Zealand .”

Mr Taylor paid tribute to Lumley’s Torque Fleet Risk Management team who have worked hard over many years to get this product to market and then continued to refine and develop it. “Their commitment and determination has paid off, and NZ Fleet Risk Manager Jim Wiles and the Torque team are already working on the next innovative initiative!”
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