London’s Ultra Low Emission Zone was expanded last month to include most of London, a size 18 times larger than the original ULEZ introduced in 2018. It is estimated that as many as 35,000 vans and 3,000 trucks driving into London every day do not currently meet the required Euro 6 emissions standard and will be liable for the expanded ULEZ charges.
“We quickly realised that without active management, the price would not change, so we built risk management tools that give our fleet customers superpowers.
“Now they are able to cut through all of the noise and take the very few corrective actions necessary with the riskiest drivers, reduce exposure, and therefore reduce the cost of insuring that exposure.
“We are agnostic to the source of data, but premiums are calculated using data.
“We will work with an existing telematics solution already installed in a fleet, recommend or install our own preferred solution or even source the data directly from vehicles where connected data capabilities are enabled.
“We have two main calculators, one figuring out driving events, and the other working out the risk of driving through a particular location at a particular time, which feed our pricing engine.”
So far, Rideshur has helped fleets reduce accidents by 65 percent, with every trip and driver being rated to help calculate the premiums.
This has been used by drivers to allow them to accurately manage their finances.
With the AI technology, premiums are calculated, personalised and updated in real-time, meaning drivers don’t need to wait until the end of the year to see if they can save.
Mr Musson added: “Without a data-driven solution, everything from the administration of charges to route planning becomes so much harder.
“We have implemented solutions for clients that can automate the administration, and our data can prove the entry and exit points.
“How the charges are structured and administered by Transport for London is without our control, however, our view is that using a more fine-grained tracking and a usage-based system, rather than a time window approach would be more flexible, and more fair.
“The charges are a significant burden on fleets and could be viewed as unfair given that operating within the ULEZ is often demand-driven rather than choice-driven.
“We have not been actively part of the ULEZ consultation, however, speaking to our customers, the overall implementation is viewed as unfair, structured to drive EV adoption and designed to be especially punitive to frequent users, many of whom are fleets.”
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