The Cumulative Costs of On-Road Risk Across the Enterprise
Aon’s view of motor total cost of risk (TCOR) is deeper and more insightful, linking different stakeholders from across your business.
Many total cost of risk models only consider insurance costs within the programme structure to include only insurance premiums, alongside claims cost and management fees. Insurance costs are only a fraction of the overall cost to a business to keep a fleet on the road. Other costs may include:
| Quantifiable Motor TCOR | |
|---|---|
| Programme Structure and Insurance Premium | |
| Claims Cost | Claims Management |
| Retained Cost / Own Damage | Uninsured Loss Recovery / Loss of Use |
| Risk Management | Telematics Costs |
| Collateral and Surety | |
| Other Tangible / Intangible Costs | |
| Driver Training and Compliance Cost | Lost Time |
| Retention and Reward | Recruitment |
| Brand visibility and negative customer sentiment | Director and manager time |
| Investor / Owner impact | Corporate Social Responsibility |
Aon’s Motor Risk team works with you to define and build a more complete picture of costs associated with on-road risk, from across the organisation. This provides a common understanding of cost across business functions, presenting it in a normalised way, based on defined exposure metrics and external factors such as claims inflation.
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