Fleet Risk Management – Case Studies
For more than 30 years, North American fleets have trusted CEI to save time and money on accident-related expenses. Want to save money on accident repairs, knowing that vehicle safety is never compromised? Looking to maximize your collection of damages from at-fault, third-party drivers? Want to achieve significant reductions in your fleet accident rate while securing further protection against liability? CEI can do it all!
3,500 + Accidents Prevented for Service Fleet, Accident Rate Cut by 30%
A national service fleet with 10,000 vehicles sought to reduce its 36% accident rate. After only one year, CEI’s fleet driver safety program helped reduce the rate by five percentage points to 31%. After seven years, CEI had prevented a total of 3,525 accidents and cut the accident rate another six percentage points, for a total reduction of 11 points or 30%. As a result, the fleet avoided $9.2 million in repair expense and $58 million in all costs, including insurance, administration and lost productivity expenses.
Accident Management Services Net 79% Off a Big Sales Fleet’s Original Repair Estimates
A sales fleet with 5,500 vehicles signed up for all of CEI’s accident management services, including repair management, loss recovery and vehicle remarketing. After five years, the result: $11.0 million in savings, recoveries and sales receipts against $14.0 million in original repair estimates.
|Year 1||Year 2||Year 3||Year 4||Year 5||Total|
|Orig Repair Estimates||$2,990,300||$2,322,500||$2,253,600||$2,853,700||$3,548,200||$13,968,300|
|Total Saved and Offset||$2,178,825||$2,089,702||$1,625,680||$2,217,204||$2,929,000||$11,040,411|
|% of Orig Repair Estimates Saved and Offset||72.9%||90.0%||72.1%||77.7%||82.5%||79.0%|
$3.7 Million in Net Accident Costs Slashed for a Communications Fleet
CEI was selected by a communications services fleet with some 9,000 vehicles and a rising number of accident claims to help it reduce its repair spend and reduce the time its fleet department spent managing repairs. Over five years, CEI saved the fleet $1.1 million in the cost of repairs. In addition, CEI’s Loss Recovery Department recovered $2.6 million from at-fault, third-party drivers. The combined savings: $3.7 million, nearly $750,000 a year.
Net Repair Costs Cut 19% in First Year for Consumer Products Distributor
In 2014, a national distributor of consumer products with 20,000 vehicles asked CEI to take over its loss recovery program and a portion of its accident claims. In just one year, CEI saved the company $697,000 in repair expenses and recovered a further $500,000 from third-party drivers. Total savings: nearly $1.2 million, or 18.7% of its prior year’s repair bill.
Five Days Cut Off Vocational Fleets Average Repair Cycle Time
The fleet department of a working truck fleet with 800 vehicles realized it was being overwhelmed by the details necessary to keep close tabs repairs. They decided to collaborate with CEI to manage its accident program. After one year, through close monitoring of every repair, CEI reduced the fleet’s average cycle time by up to five days and freed up the fleet department staff to focus on other critical tasks.
Bringing 75 Countries Under One Global Fleet Safety Strategy
When a global pharmaceutical giant decided to up its fleet safety game on a worldwide scale, it didn’t have to recreate the wheel. Its 6,000-vehicle U.S. fleet has ranked in the top quartile of the Pharmaceutical Safety Group’s (PSG) industry performance benchmarking for the past five years. But it was locked in the fourth quartile when it came to global fleet safety performance, and had been for years. The goal: to achieve that same driver safety benchmark performance achieved in the U.S. everywhere else.
With a rich history of safety across all aspects of the business, and a 20+ year old Global Fleet Safety program, this company’s driver safety mission is straightforward: returning its drivers to their loved ones and communities after every journey. That’s a tall order for a worldwide fleet spanning Read More.
Sales Fleet Puts It All Together for Maximum Savings
A sales fleet with an average of 3,000 vehicles implemented an integrated approach, dramatically lowering costs. CEI provided its accident prevention, accident management, and loss recovery services. Total seven-year hard dollar savings were $5.0 million, and $29.5 million in NHTSA’s “true cost” of fleet accidents.
|Year 1||Year 2||Year 3||Year 4||Year 5||Year 6||Year 7||Total|
|Accident rate||43.5%||34.9%||37.1%||37.5%||34.8%||37.6%||33.3%||Reduced by 23.5%|
|Savings Grand Tot.||$933,840||$1,686,146||$1,417,870||$1,186,620||$1,465,015||$1,240,139||$1,326,961||$7,938,080|
|NHTSA “True Cost” Savings||$0||$6,534,000||$4,620,000||$3,938,000||$5,456,000||$3,586,000||$5,324,000||$29,502,000|