Get smarter Digital strategies to improve risk management By Lisa Paul
I
n the current, challenging economic environment, a transportation carrier’s main riskmanagement goals should be to optimize their Total Cost of Risk (TCOR), maintain contract compliance of independent contractors, and retain and train good drivers in order to meet the demands of coverage. Challenges to each of these goals
10
have arisen in recent years, and the strain on the system has trickled down and driven up costs as well. For each of these goals, digital technology can help inform decisionmaking by aggregating operational and safety data on both drivers and vehicles, giving carriers a unique opportunity to reduce risk. The good news is, many trucking companies