Traditional insurance providers have largely ignored the power of data and AI in predicting risk, causing significant impacts on fleets. Instead of adopting advanced technologies, they continue to rely on outdated pricing models (many still built in Excel) that force them to offer one-size-fits-all pricing. This often results in fleets being charged the same high rates regardless of their risk profile. To make matters worse, without true visibility into a fleet’s risk profile, traditional insurers frequently default to blanket price increases, perpetuating a broken cycle that burdens fleets year after year.
At Nirvana, we’ve completely revolutionized trucking insurance by building our foundation on telematics data, harnessing billions of data points. This unmatched data advantage allows us to deliver greater value to fleets through truly personalized pricing. And now, we’re taking it a step further by enhancing our pricing capabilities with AI.
A personalized insurance experience powered by AI
To further enhance our personalized pricing, we’ve implemented smarter segmentation, enabling us to create customer segments with adjustable pricing variables based on recent fleet behavior.
To build our segmentation, we analyzed hundreds of fleet risk features, including operational and driver/equipment factors, driving behavior sensor data, FMCSA inspections, loss metrics, and much more. By combining all these data points, we arrive at a precise risk evaluation, giving us the complete picture of a fleet’s risk.
Driver turnover is one example of smarter segmentation in action.
Conventional wisdom says high driver turnover means there will be a higher risk due to operational turmoil. But is this always the case? Surely not all turnover is bad, as retaining poor drivers can also be a high risk. What about the quality of new drivers vs prior drivers?
We needed to distinguish between good and bad driver turnover and set thresholds that price it accurately. Previously, that would have meant months of hard‑coding and scenario testing across many data signals and model variants.
To solve this bottleneck, we used AI.
Using a coordinated set of AI agents, we were able to create and score hundreds of potential data features and automatically run tests and validations in hours instead of months.
This allowed us to quickly incorporate advanced driver turnover as a segment in our risk assessments.
AI-driven underwriting, combined with our extensive and unique data, enables us to deliver a personalized insurance experience for fleets, something no other insurance provider can match.
Driving the future of fleet insurance
We’ve only scratched the surface of what’s possible with AI, and there’s so much more value to unlock. AI is not just transforming risk analysis; it’s revolutionizing every touchpoint and process within the insurance stack.
We envision a future where insurance is not just faster and fairer, but also smarter and more proactive. From enabling fleets to better understand and reduce their own risks to creating entirely new ways to minimize costs and improve safety.
When it comes to AI and data-powered underwriting, Nirvana is in the lead. And the best part? We’re just getting started.
Traditional insurance providers have largely ignored the power of data and AI in predicting risk, causing significant impacts on fleets. Instead of adopting advanced technologies, they continue to rely on outdated pricing models (many still built in Excel) that force them to offer one-size-fits-all pricing. This often results in fleets being charged the same high rates regardless of their risk profile. To make matters worse, without true visibility into a fleet’s risk profile, traditional insurers frequently default to blanket price increases, perpetuating a broken cycle that burdens fleets year after year.
At Nirvana, we’ve completely revolutionized trucking insurance by building our foundation on telematics data, harnessing billions of data points. This unmatched data advantage allows us to deliver greater value to fleets through truly personalized pricing. And now, we’re taking it a step further by enhancing our pricing capabilities with AI.
A personalized insurance experience powered by AI
To further enhance our personalized pricing, we’ve implemented smarter segmentation, enabling us to create customer segments with adjustable pricing variables based on recent fleet behavior.
To build our segmentation, we analyzed hundreds of fleet risk features, including operational and driver/equipment factors, driving behavior sensor data, FMCSA inspections, loss metrics, and much more. By combining all these data points, we arrive at a precise risk evaluation, giving us the complete picture of a fleet’s risk.
Driver turnover is one example of smarter segmentation in action.
Conventional wisdom says high driver turnover means there will be a higher risk due to operational turmoil. But is this always the case? Surely not all turnover is bad, as retaining poor drivers can also be a high risk. What about the quality of new drivers vs prior drivers?
We needed to distinguish between good and bad driver turnover and set thresholds that price it accurately. Previously, that would have meant months of hard‑coding and scenario testing across many data signals and model variants.
To solve this bottleneck, we used AI.
Using a coordinated set of AI agents, we were able to create and score hundreds of potential data features and automatically run tests and validations in hours instead of months.
This allowed us to quickly incorporate advanced driver turnover as a segment in our risk assessments.
AI-driven underwriting, combined with our extensive and unique data, enables us to deliver a personalized insurance experience for fleets, something no other insurance provider can match.
Driving the future of fleet insurance
We’ve only scratched the surface of what’s possible with AI, and there’s so much more value to unlock. AI is not just transforming risk analysis; it’s revolutionizing every touchpoint and process within the insurance stack.
We envision a future where insurance is not just faster and fairer, but also smarter and more proactive. From enabling fleets to better understand and reduce their own risks to creating entirely new ways to minimize costs and improve safety.
When it comes to AI and data-powered underwriting, Nirvana is in the lead. And the best part? We’re just getting started.
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