This is an excellent initiative from AXA!
It encompasses exactly the IoT model which is going to fundamentally change the nature of insurance forever.
The insurance industry is moving from a once-a-year interaction based on Risk Mitigation, to an Always-On Risk Management model designed to protect assets and reduce claims.
This change will make insurance more relevant, high profile and dare I say it "Sexy" in the modern world.
Well done AXA!
Following a successful trial with several AXA customers, the insurer has now rolled out its new safety initiative for forklift trucks in the UK. Developed in partnership with CCTV and telematics firm VUE, the in-vehicle technology aims to reduce accidents and drive positive changes in behaviours. Citing data from the UK’s Health and Safety Executive, AXA said 42% of work-related fatalities involve workplace transport. In addition, the major provider reported having received 281 claims from incidents involving forklift trucks in the period between March 2017 and March 2018.