When National Transport Insurance (NTI) talks about sustainability, what it is referring to is strategic sustainability.
For the last six years the road freight and logistics insurance specialist has been exploring avenues to enhance its partnership with industry so that its offering is incontrovertible.
The path to enhancing its own sustainability, the NTI executive group determined, was intertwined with the success of its customers.
In order to strengthen its relationships it would need to improve synergies across critical areas like safety, efficiency and operations so that the meaningful outcomes delivered for these businesses would, in turn, also make them more sustainable. It was a powerful incentive.
According to Chris Hogarty NTI Chief Sustainability Officer, this established a foundation of belief as the business introduces a range of new products.
“Startups have been extremely successful when competing with large incumbent corporates by taking a product direct to market and then by quickly learning from the customer as to what they enjoy and dislike about it,” he says. “From there they ditch what doesn’t work and add more to what works. This process happens very quickly.”
Born from this was NTI’s Business Health Check, which facilitates a diagnosis from an NTI expert across a range of different areas of a business such as operations, technology and culture. It also gives the customer an understanding of where there might be a range of disconnects within a business and highlights each.
In addition to this, Traction, a recent acquisition, is a 360 degree feedback tool that enables leadership in transport companies to better understand how all staff feel about safety.
“It uncovers if that company is delivering on its safety procedures and creates a platform for continuous improvement,” says Chris. “Traction itself assesses companies across 15 different areas by measuring the likes of training processes, quality of communications, effectiveness of incident reporting for recording investigations for incidents and hazards.”
Traction also provides insights into a company culture, say if it rewards unnecessary risk-taking or fosters doing the right thing. The tool is then managed in a way that it sets about demonstrating how best to close the gaps. While the Health Check facilitates a broader view of operations, Traction allows NTI to go even deeper for its customers.
In light of the NTARC Accident Report, which summarises what drives some of the large loss claims, the company has partnered with driver monitoring specialist, Seeing Machines, as recognition for the role fatigue plays in incidents.
NTI now expands the coverage of those operators who use the Seeing Machines technology by reducing their excesses and as an endorsement that its customers are doing the right thing in terms of risk management.
“As our customers made an investment in safety we had to try and find some way to recognise that,” Chris says. “Seeing Machines is proven technology. We know through MUARC and Ron Finemore Transport that they have seen significant reductions in fatigue events.”
As NTI launches these new innovations it wants its customers to know it is testing the waters for the right reasons. Inspired by the approach of innovative startups it is prepared during the stage of proof of concept to fail fast to learn fast and iterate.
“Many corporates have struggled with the fact that disrupters have come into their industries. Quite often large businesses are change resistant,” Chris says. “We’ve been really focused on our organisational agility. We’re going to start trying some new things. We’re going to be working really closely with customers, and it’s going to be a bit different. But it’s about taking what we do well today into the future.”