Hylant, a Toledo, Ohio-based insurance brokerage, has launched RoadPilot, a “pay as you go” hired non-owned program designed for the restaurant home food delivery industry.
RoadPilot is an app-based technology that drivers install on their phones, according to a statement released about the program. Clients also have access to a convenient dashboard that is available 24/7. “This provides managers with real-time data to monitor in-progress driving and drill down into historical driving statistics to help identify and address unsafe driving habits. Data can also be used to reward and incentivize employees who are driving safely.”
Hylant and Obsidian said that the program will target restaurant groups with 20 or more locations.
Traditional insurance products can lead to gaps in coverage for restaurant businesses that rely on delivery drivers because premiums are based on industry averages and applied universally regardless of the drivers’ liability profiles.
“With RoadPilot, premiums are developed to reflect a delivery driver’s actual behavior and actual delivery miles travelled,” the statement said. Specific rating factors include aggregate driver risk profiles derived from hard braking, rapid acceleration, speeding, unsafe maneuvers, and phone usage. Premium is determined on a monthly basis.
“We’re excited to begin this program with Obsidian Insurance Company,” said Mike Ugljesa, president of Hylant Administrative Services. “Their team has a proven track record of providing solutions for industry niches.”
“The RoadPilot program brings a much-needed product to the food delivery segment and has developed an innovative approach to more accurately price risk with the incorporation of telematics,” said William Jewett, CEO of Obsidian Insurance Company. “We look forward to a long-term partnership with Hylant as well as the strong panel of reinsurers supporting the program.”
Hylant is one of the largest privately held insurance brokerages in the United States. Founded in 1935 and headquartered in Toledo, Ohio, Hylant offers risk management services, employee benefits brokerage and consultation, loss control, healthcare management and insurance solutions for businesses and individuals locally, nationally, and internationally.
Obsidian Insurance Company is a subsidiary of Obsidian Insurance Holdings Inc., a new fronting insurance holding company that issues policies underwritten by managing general agents, managing general underwriters, and program managers. Obsidian sources, underwrites, and manages a diverse portfolio of property, casualty, and specialty insurance programs, and reinsures the majority of its program business to select reinsurers. Obsidian was formed in 2020 in partnership with insurance industry executives and Genstar Capital.
Source: Hylant
Topics Personal Auto
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