Overhaul, a technology provider for supply chains, is partnering with CNA Insurance to use driving data to send speeding and other alerts, to companies and truck drivers, through its risk-management app
The hardware that already exists in trucks will now log when truckers drive over the speed limit for an extended period of time, said Pat Stoik, Overhaul’s chief risk officer. When the vehicle next stops, the trucker will receive a notification that they were speeding and will now be required to participate in a video training about safety.
Truckshield, which was launched earlier this year, can also alert law enforcement when a truck is stolen through its LE Connect program.
If a trucker goes into a diner to eat food, Stoik said, the truck could be stolen. With Truckshield, when the truck begins to move, the trucker will receive a notification and be asked if it is an authorized movement. If the trucker responds no, then a message will be sent to a 24/7 operation center in Austin, Texas and local law enforcement will be notified. The operation center can tell law enforcement where the truck is and where it is going, while the crime is live.
“We can identify the law enforcement officer ahead of that truck, give them all the pertinent information of the truck so that they can intervene and stop that truck and recover the cargo before it disappears,” Stoik said.
Overhaul chose to partner with CNA to launch this product as Stoik has known Drew Feldman, senior vice president, Global Marine Business Unit Leader of CNA, for around 25 years.
“When I joined Overhaul and started to work on the Truckshield product, one of the first people I reached out to was Drew to see if we could collaborate and put our heads together to bring a mutual product to the trucking industry,” Stoik said.
The information from TruckShield will be provided to owners, and other people and entities that the company approves. For example, should the owner choose, the information can be sent directly to insurance.
“Through TruckShield, CNA can more effectively assess motor-carrier risk and adjust motor-truck cargo legal-liability policy terms and conditions when presented with a complete safety and compliance profile,” said Feldman, in a statement. “CNA is deeply committed to offering technology solutions that complement our portfolio of Risk Control services – all which are designed to help policyholders reduce loss, while increasing profitability and productivity. We are excited to collaborate with Overhaul to implement this enhanced service offering.”
Overhaul recently closed a $35 million funding round in June.
