What is Fleet Risk Management? | Fleet Safety Program Solutions

Creating a fleet risk management plan is key to running a safe and efficient fleet. Any fleet risk management plan should take into account the physical and regulatory risks for fleets and then create a fleet safety program to reduce those risks.

Risks include meeting local, state and federal regulations. They also include fleet maintenance and driver safety on the road. While it’s difficult to make a plan that accounts for all risks a fleet faces, doing so makes drivers safer and fleets more profitable.

Technology plays a key role in fleet risk management. Innovations have led to systems that can help fleets better mitigate risk. 

Risk Management Issues Impacting Fleets

Fleets must address many factors when they draw up fleet risk management plans. In many cases, they work with insurance brokers, FMC’s and Safety Providers to create a fleet safety program. Such programs cover a lot of ground. But most issues fall into these three areas.

Driver Safety

This includes both driver safety and best practices for safe driving. One issue all fleets must manage is driver distraction, which remains one of the biggest causes of accidents. In-cab tech can now detect and warn drivers when they drive distracted, become drowsy and engage in unsafe driving. Dash cameras allow fleet managers to coach drivers in real-time, monitor harsh driving conditions and provide backup and other outside cameras. All this helps drivers practice safe driving habits and lowers their risk of accidents.

Fleet Maintenance

Breakdowns on the road present safety and cost risks for fleet. They also keep drivers from meeting delivery times. Advanced systems now monitor all aspects of truck performance. This includes engine data, tire pressure, and brake function. These systems send alerts when signals appear that a breakdown is about to happen. They also send alerts when routine maintenance times approach. These systems mitigate cost and safety risks by working to reduce breakdowns on the road and keep drivers safe from any mechanical breakdown.

Meeting Compliance Regulations

Fleet managers must keep up with the many rules that govern fleets. They also must ensure proper filing of all paperwork. Both issues present some of the biggest headaches a fleet manager will experience. However, tech systems now get the job done without any paperwork at all. Software tracks rules at the local, state and federal level. DOT compliance systems allow drivers to use apps and software systems to record Hours of Service. They also help fleets synchronize electronic logging devices (ELDs) and ensure proper completion of Driver Vehicle Inspection Reports (DVIR).

Planning for risk also includes better driver training and screening programs, asset tracking, and optimized routing and dispatch systems. The best risk plans account for all aspects of an operation where a business can lower risk, enhance safety and protect assets. Making the effort to create a fleet risk management plan allows fleets to focus on protecting employees, clients and assets. That’s an effort worth making, and one that will set a business apart from competitors in the long run.

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