Case Study: How To Reduce Trucking Insurance Rates
3 Steps to Reduce Trucking Insurance Costs
Infinit-I Publishes Case Study on Trucking Company’s Innovative Strategy for Realizing a 0% Increase in Insurance Premiums, Increasing Safety, and Cutting Costs
TEXARKANA, TEXAS, UNITED STATES, December 5, 2023 /EINPresswire.com/ — Infinit-I’s new case study reveals how Chris Morland, a 20-year trucking industry veteran with Logistics Warehouse, successfully flatlined his company’s insurance rate for two consecutive years using Infinit-I’s training management system. Resulting in:
• 14.5% increase in revenue
• 0% increase in insurance premiums for 2 years in a row
• 99% of drivers consistently meeting their training deadlines
Morland decided to use Infinit-I’s training platform to target accident rates and common operational expenses with frequent and consistent ongoing training. First, he assigned his drivers two short videos each month. As an incentive, Morland gave his drivers a safety bonus for completing training on time. Because of the shift to online training, he was able to use their quarterly in-person safety meetings more effectively.
“Quarterly safety meetings still happen, but now we use those to go in-depth on topics. We cover accidents we’ve had or not had, incidents, etc… We talk about the cost of those, how many hours of operation it took just to pay back that $1,500 repair to a dog leg, for example,” said Chris Morland, Director of Transportation for Logistics Warehouse. “We talk about how the accident that caused damage to the customer’s property costs money for repair to the property and truck. Sure, it didn’t result in a ticket, but that $2,000 isn’t just ‘the cost of doing business,’ it’s $2,000 that could have been put back into newer equipment, or wages, or safety bonuses.”
The results were substantial: a 14.5% increase in revenue and flatlined trucking insurance costs for two years and counting.
With the economy soaring to the top of the ATRI 2023 Industry Issues list, it’s critical for trucking companies to adopt strategies like this. Infinit-I’s platform paired with Chris’s approach can have a huge impact on profitability.
“It’s unheard of to reduce insurance rates, so to see that Chris and Logistics Warehouse were able to target such a huge operational expense was outstanding,” said Jay Wommack, Founder & CEO of Infinit-I. “It took hard work and more than just smart online training, but we’re proud to be part of their solution to rising insurance costs.”
Read the case study at infinitiworkforce.com.
About Infinit-I Workforce Solutions:
Infinit-I Workforce Solutions, a family-owned business since 1999, has delivered over 135 million training sessions to more than 5,000 companies. The Infinit-I online training platform (LMS) continues to provide innovative and effective training solutions for transportation, warehousing, distribution, and beyond.
Lydia Wommack
Vertical Alliance Group
+1 903-729-5372
[email protected]
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