Canal Insurance Adopts Lytix to Help Insureds Mitigate Risk, Improve Efficiency

Canal sees the Lytx DriveCam program as a unique and effective solution the carrier can offer its insureds to assist them in improving their operations.

(Image credit: Dollar Photo Club.)

A recent Virginia Tech Transportation Institute study found that using video-based driver safety technology has the potential to prevent over 25,000 commercial vehicle accidents and nearly 40,000 injuries, as well as saving more than 800 lives annually. Seeing the potential of the technology for its transportation company clients, Canal Insurance (Greenville, S.C.) has signed an agreement with Lytx (San Diego) to offer the vendor’s Lytx DriveCam (DC) safety, efficiency and risk mitigation programs to policyholders.

Gary Flaherty, AVP, Risk Management Services, Canal Insurance.

Gary Flaherty, AVP, Risk Management Services, Canal Insurance.

Through the agreement Canal’s policyholders will be offered Lytx’s DC Enterprise and DC Protect programs as part of the carrier’s CanalRISK360 value-added service. CanalRISK360 operates through the insurer’s risk management unit as a set of branded resources and alliances offered to proactively engage customers. The capabilities are aimed at helping improve safety and reduce operational costs by evaluating operations, developing safety plans and delivering training, according to the insurer.

Unique and Effective Solution

Canal sees the Lytx DriveCam program as a unique and effective solution the carrier can offer its insureds to assist them in improving their operations, according to Gary Flaherty, assistant VP, Risk Management Services, Canal Insurance. “The DriveCam program will be one of the cornerstones of the resources in CanalRISK360 and is essential in our goal to improve driver safety,” he comments

The vendor describes the Lytx DriveCam Program as helping to prevent collisions, reduce injuries and save lives by combining video with predictive analytics, real-time driver feedback and coaching, empowering fleets to identify and correct driving behaviors that could lead to collisions. The DC Enterprise program is Lytx’s most comprehensive safety program enabling transportation companies to manage and coach all enrolled drivers in their fleet. Lytx also offers a streamlined DC Protect program that enables operators to manage the riskiest 20 percent of drivers while still protecting all drivers from false claims.

 

 

Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at [email protected] or (503) 936-2803.

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