HONOLULU – With Hawaii’s roadways rated among the most dangerous in the nation, more companies are recognizing the value of vehicle telematics in increasing safety and lowering costs. In 2023, First Insurance Company of Hawaii (FICOH) introduced a commercial vehicle telematics tool under the FICOHTechSM brand. In just the past 90 days, FICOH commercial auto customers have logged more than 785,000 miles with the technology.
Since the program began a year ago, FICOHTechSM devices have been installed in more than 330 commercial autos across seven customer fleets. The small devices can easily be installed in minutes and alert organizations to dangerous driving behaviors such as speeding and hard breaking so they can take action to lower the risk of driver-related accidents. The devices can also help reduce gas costs by tracking vehicle idling time and providing more efficient routing.
“Our Risk & Safety Management department works tirelessly to help our commercial insureds operate more safely. Now in addition to their consultative services and extensive online training program, we’re able to offer our customers a telematics tool they can use to improve safety, reduce losses, and manage their operational costs,” said Kevin Kurosu, Vice President of Commercial Underwriting at FICOH. “We look forward to expanding the program and pursuing other technologies to help our business customers reduce losses and thrive in this challenging economic environment.”
FICOHTechSM telematics is not used to calculate premiums and FICOH covers the base system cost for customers with commercial auto coverage to help them make more informed decisions about their fleets. For more information, visit ficoh.com.
First Insurance Company of Hawaii
Founded in 1911, First Insurance Company of Hawaii, Ltd. is the oldest and largest property and casualty insurer domiciled in Hawaii, with assets of $837.97 million, liabilities of $560.1 million, and policyholders’ surplus of $277.8 million as of December 31, 2023.
First Insurance is a member of the Tokio Marine North America (TMNA) group of companies and enjoys an “A+” rating from A.M. Best Co. Proud of its broadly experienced, service-oriented staff, First Insurance employs more than 225 insurance professionals and distributes its products through 26 independent general agencies. In 2023, First Insurance was awarded the American Heart Association’s Workplace Health Gold Achievement and named one of Hawaii’s Best Places to Work in the “large company” category by Hawaii Business magazine.
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