Driving Success: Risk Management and Human Capital Solutions for Modern Transportation
From fleet operations to supply chain logistics, we understand the complex risks facing today's transportation companies. We’ve created a Financial Impact Report that focuses on aligning your business objectives with Risk Management and Human Capital solutions.
First, we ground our understanding of your business in the context of what is happening today in the wider industry…
Risk Management
The U.S. trucking industry is experiencing a downturn due to reduced demand and overcapacity, leading to financial strain on companies.
In 2023, trucks moved 11.18 billion tons of freight, down from 11.46 billion tons the previous year.
Source: American Trucking Association
2024
2024
Employee Benefits
The transportation sector is facing a significant driver shortage, prompting companies to enhance employee benefits to attract and retain talent.
The trucking industry employed 3.55 million professional drivers in 2023, highlighting the need for competitive benefits to maintain workforce levels.
Source: American Trucking Association
2024
2024
Insurance
Advancements in autonomous vehicle technology are influencing insurance models, as companies assess new risk factors associated with self-driving trucks.
Aurora Innovation plans to deploy driverless semis between Dallas and Houston by the end of the year, indicating a shift towards autonomous freight transport.
Source: Associated Press
2024
2024
Risk Management
The transportation industry is increasingly vulnerable to cyberattacks, necessitating robust cybersecurity measures to protect operations.
Recent cyberattacks on auto dealer software providers have raised concerns about potential impacts on automotive volumes and operational disruptions.
Source: MarketWatch
2024
2024
Employee Benefits
The push towards electrification and sustainability is creating new job roles and requiring upskilling of employees within the transportation sector.
The U.S. transportation industry recorded $1.16 trillion in revenue in 2022, with trucking accounting for $940.8 billion, indicating substantial economic activity that supports workforce development.
Source: Truck Info
2024
2024
We search for both Visible and Hidden Risks in your operations.
Visible Risks
- Vehicle Fleet Damage and Maintenance
- Cargo Loss or Damage
- Workers' Compensation
- Property Damage (Terminals, Warehouses)
- Auto Liability
- General Liability
Next, we apply our EBITDA Edge framework to your business…
1
Discovery
- Fleet operation analysis
- Route optimization assessment
- Historical loss pattern review
- Driver safety program evaluation
- Technology integration assessment
2
Risk Mitigation
- Custom fleet safety programs
- Driver training and certification
- Telematics implementation
- Preventive maintenance protocols
- Cyber security protocols
3
Modeling & Analytics
- Fleet performance analysis
- Fuel efficiency modeling
- Loss frequency/severity trending
- Operating cost optimization
- Route profitability assessment
4
Claims Process
- 24/7 accident response protocols
- Mobile-first documentation tools
- Real-time claims tracking
- Third-party liability management
- Subrogation optimization
5
Risk Transfer
- Custom coverage design
- Nuclear verdict protection
- Alternative risk financing
- Excess liability optimization
- Captive program development
We focus on the business drivers that impact your business…
-
Geographic expansion planning
Service diversification
Last-mile delivery solutions
Cross-border operations
Intermodal integration
Technology adoption pathways
Contract logistics services
E-commerce integration
-
Fleet optimization
Fuel management
Driver recruitment and retention
Route optimization
Sustainability initiatives
Technology integration
Safety program development
Regulatory compliance management
-
Equipment financing strategies
Terminal/warehouse acquisition
Working capital management
M&A opportunities
ESG program development
Asset utilization optimization
Cost per mile management
Revenue per mile optimization
Lastly, to execute on our goals, we’ve created a suite of world-class tools customized specifically for the transportation industry…
Risk Mapping Edge
Comprehensive analysis of fleet operations to identify and address unique risk exposures across your entire transportation network.
- Detailed analysis of fleet operations and route risk assessment
- Driver safety profiling and performance evaluation
- Cargo security and supply chain vulnerability mapping
- Terminal/warehouse risk assessment and safety protocols
- Environmental impact and regulatory compliance evaluation
Risk Insight Edge
Strategic analysis of transportation industry trends and emerging opportunities in modern logistics.
- Industry evolution tracking and impact analysis
- Technology adoption trends and implementation strategies
- Regulatory change monitoring and compliance planning
- Market opportunity identification and growth strategies
- Sustainability transition planning and ESG initiatives
Market Intelligence Edge
Deep understanding of transportation insurance markets and rate environments across different coverage lines.
- Real-time tracking of auto liability market conditions
- Nuclear verdict trend analysis and impact assessment
- Coverage enhancement opportunities identification
- Carrier appetite and capacity monitoring
- Alternative market solutions evaluation
Pricing Edge
Strategic approach to optimizing insurance costs through fleet safety improvements and risk quality enhancements.
- Loss control investment ROI analysis
- Safety program impact assessment and optimization
- Claims cost reduction strategy development
- Risk retention analysis and optimization
- Total cost of risk evaluation and improvement