NEW research from LeasePlan UK has revealed that almost a third (31%) of fleet managers are frustrated that other departments get a bigger say in the insurance decision making process than them.
Furthermore, only a third (32%) of insurance decision makers think they’re well-equipped enough, and know enough about the fleet and drivers, to get the most out of their fleet insurance. This highlights a serious knowledge gap between those involved in a complex decision-making process.
The study of 500 fleet decision makers and 250 commercial insurance decision makers also revealed that over a third (36%) of fleet managers think the insurance decision making process is too time consuming, while one in five (20%) think that the claims process is difficult.
Steven Kirwan, Director of Operations at LeasePlan Insurance, said: “The fleet insurance process clearly has its challenges, from first assessing your options all the way through to making claims. And the more challenging the process, the more important it is to have the right decision makers involved. In the case of fleet insurance, fleet managers should be your go-to.
“They’re the people most likely to have a clear and detailed understanding of fleet operations and know exactly which elements of an insurance policy could benefit their drivers most. To make the process even simpler and more efficient, decision makers should also work with a specialist fleet insurer who understands their operational needs.”
As well as highlighting concerns in the fleet insurance decision making process, the study also revealed a further key issue – one in ten (11%) fleet managers have no decision-making influence over fleet spend or budget.
Kirwan added: “An increased need for ESG reporting from both consumers and stakeholders has seen fleets accelerated to the top of the board agenda in a broad spectrum of organisations. Fleet electrification gives businesses a huge opportunity to make progress towards their ESG goals, so it’s natural to see more employees and stakeholders involved in the fleet finance decision-making process. Fleet managers shouldn’t be de-prioritised in the decision-making process, though. In fact, their expertise should be more valued than ever.”
