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FMG WINS PRESTIGIOUS BRITISH INSURANCE AWARD FOR RISK MANAGEMENT
13 July 2012
FMG has been announced as the winner of The Risk Management Award for its Ingenium Dynamics advanced driver behaviour management system at this year’s British Insurance Awards . Known as the ‘Oscars’ for the insurance industry, the awards recognise firms that have made an outstanding contribution to their sector, either through their service provision or product innovation.
FMG is the UK’s only incident management and roadside services company committed to reducing the frequency and impact of incidents. This prestigious honour for FMG’s Ingenium Dynamics system - which world-leading transport research experts* have found to be a highly effective way to manage driver risk – is further recognition of FMG’s commitment to bringing about a significant change in the fleet management sector.
A spokesperson for the British Insurance Awards judging panel, said: “The solution was highly rated for demonstrating significant tangible benefits and helping pioneer an industry step change. Ingenium Dynamics was a big hit with the judges”.
Ingenium Dynamics improves driver behaviour, by making it easier to identify, manage and remove risk and as a result FMG’s fleet clients are seeing a 25-80% reduction in incident claims. In a separate application of the technology, loss ratios for a young drivers’ insurance scheme – with leading insurer Marmalade – have been reduced to 40%, from a typical industry average often in excess of 100%.
FMG’s fleet clients are particularly impressed with Ingenium Dynamics. This is thanks to its ability to reduce running costs, insurance premiums and carbon emissions, as well as increasing fuel efficiency and savings.
FMG CEO John Catling said: “We believe that prevention is better than cure, so our team works hard to deliver services and products that make a real difference to the number of incidents and the way these are handled. It’s a fantastic achievement to have this recognised by the insurance industry and we look forward to further successes with Ingenium Dynamics, which we believe is a truly industry-changing-system.