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Lobbying for Trucking: Lawsuit Abuse and a Grassroots Effort for Change

 

Topics: Transportation Leadership / Strategy

The Most Common Insurance Fraud Types

Fraud

What’s one word that sets off warning bells for most of us? Fraud, especially in the insurance world. For both policyholders and brokers, insurance fraud is a stressful and high-alert concern—unfortunately, fraudulent insurance activity steals at least $80 billion every year.

An especially challenging part of insurance fraud is understanding the different sources of fraud and the ways it’s committed. Insurance fraud includes organized crime activity that steals money via business dealings, insurance provider professionals who inflate, overcharge, or don’t actually provide insurance protection, and average citizens who see an opportunity to illegally make money with a faulty insurance claim.

Both policyholders and insurance brokers can both be victims of fraud, which is why there are more and more efforts being put into preventing fraud. The first step for anyone who wants to be prepared for fraud is to learn about the potential risks and fraud vulnerabilities. So, without further ado, here are the most common insurance frauds and how insurance companies mitigate risk.

 

Topics: Transportation Leadership / Strategy HR / Employee Benefits

Risk Modeling: What to Know About Risk Models

We’ve all heard it in the business industry: “no risk, no reward!” But we hear it for good reason—business efforts are never totally risk-free. Still, companies are constantly working on minimizing risk and maximizing their profit, which can really only be done through intentional, data-driven decisions. Finding new ways to predict and manage risk is a big part of an overall business strategy. 


The real question is how do business leaders and decision-makers measure, evaluate, and minimize risk? Industries like finance, transportation, manufacturing, and construction are finding more success by using a better and more reliable tool called a risk model.

 

Topics: Transportation Leadership / Strategy HR / Employee Benefits

How Much Does Employer Health Insurance Cost?

There are a lot of things that might set a great employer apart from a mediocre one, but one that’s extremely hard to overlook is health insurance. After all, the cost of healthcare in the US is on the rise, even outpacing the record inflation of the past few years. Employees want to know that their employers have them and their dependents covered before they’ll be willing to sign any contracts. 

But providing healthcare isn’t cheap. And, as we addressed in a previous blog post, simply spending more money on health and other employee benefits won’t necessarily bring in the kind of ROI you might expect. 

Topics: Leadership / Strategy HR / Employee Benefits

Has Covid-19 raised concerns about collecting your Accounts Receivable?

Are your Accounts Receivables being impacted by Covid -19?  Has your company’s cashflow been affected as a result of a downturned market?  Trade Credit Insurance could be the solution you are looking for.

What is Trade Credit Insurance in a nut shell?

Insurance that can protect a company against losses from non-payment or even very late pays to keep your company’s cash flow moving.

Topics: Leadership / Strategy

Dan Baker on how to treat people in the trucking industry (Podcast)

Dan Baker is a member of The DE-RISKING Network and was a speaker at the 2019 DE-RISKATHON.
 
Dan Baker has spent his career working with trucking companies, drivers, and driver managers to help humanize the industry. 
 
 
What differentiates companies that drivers love and those they don't? 
People don't remember what you say or what you do. They remember how you make them feel. Does it feel good to go to work in the morning? Do they like who they are working with?
 
Some companies elicit great feelings because of the way they treat drivers, customers and employees. These companies focus on having a personal connection with everyone. This is the only way I know to do it. And it makes a big difference.
 
People respond based on how they perceive that you perceive them. Every interaction counts.
 
How are different generations impacting the trucking industry?
For the first time in the history of the world, we have 5 generations of people working and driving trucks at the same time.This has never happened before, and it's increasing the tension in the workplace.
Topics: Transportation Leadership / Strategy

An Update on The Truck Driver Shortage

The “Trucking Generation” is still on the verge of retirement.

In 1994, 60% of the truck drivers were between the ages of 25 and 44. In 2018, 55% of drivers are over the age of 45. This group of truck drivers, known as the “trucking generation,” is aging and on the verge of retirement.

Breakdown of Truck Drivers By Age

Driver turnover is actually down (to 78% from a peak of 98% at the beginning of 2018)!

The driver turnover rate peaked at 98% in the first half of 2018 before decreasing to the current rate of 78%. Companies are paying their drivers more which is working to keep drivers in place. At the same time, the freight market is softening which, according to Bob Costello, chief economist for ATA, leads to lower driver turnover.

 
Topics: Transportation Leadership / Strategy

Dan Baker Says Trucking Is About People, Not Data

Dan Baker is a member of The DE-RISKING Network and speaker at the 2019 DE-RISKATHON.
 
Dan Baker has spent a career working with trucking companies, drivers, and driver managers to help humanize the industry. Here is a summary of a recent conversation we had with Dan in anticipation of his talk at The DE-RISKATHON in Milwaukee.
 
 
What differentiates companies that drivers love and those they don't? 
People don't remember what you say or what you do. They remember how you make them feel. Does it feel good to go to work in the morning? Do they like who they are working with?
 
Some companies elicit great feelings because of the way they treat drivers, customers and employees. These companies focus on having a personal connection with everyone. This is the only way I know to do it. And it makes a big difference.
 
People respond based on how they perceive that you perceive them. Every interaction counts.
 
How are generations impacting the trucking industry?
For the first time in the history of the world, we have 5 generations of people working and driving trucks at the same time.
Topics: Transportation Leadership / Strategy

Introducing: The DE-RISKING Network

Everything about running a transportation company is a little more complicated now – from hiring great drivers, to improving safety performance, to preparing the next generation of leaders. 

In our work with hundreds of different transportation companies, what we've found is that this increased complexity has led to two key things happening: 

1) there are more hidden risks in your business than ever before, and 

2) the companies that address these hidden risks are outperforming everyone else. 

 

THE OPPORTUNITY:

If there's one thing we know about our clients, it's that if there’s any way to improve their business, they want in. So, for the past 6 months, we’ve been working on a way for high-performing transportation companies to come together and face these challenges head on.

It’s called The DE-RISKING Network. And here’s what it’s all about: 

1. Bumping elbows with other high-performers. It's amazing what happens when you get a group of high-performers in the same room to tackle really difficult challenges.

2. Focusing on what actually makes an impact. We believe that focusing on Leadership, Culture, and Operations has the greatest potential to increase the value of your company, so that’s where we’ll spend our time.

3. Hearing from the country’s best experts. We’re bringing in the country’s leading experts to deliver content both digitally and in-person at events like the annual DE-RISKATHON member retreat (i.e. US Navy SEALS).

4. Preparing the next generation of leaders. The future performance of your company rests in the hands of the next generation of leaders. This program will be a way for current and future leaders to share a common learning experience and refine their skills.

If you’re interested, you can learn more about The DE-RISKING Network here.

Now through May 1st, you can join for a reduced membership fee, which includes the annual DE-RISKATHON member retreat on June 11th and 12th in Milwaukee.

Topics: Transportation Leadership / Strategy

What do you do and why does it matter?

It’s a pretty simple set of questions. As professionals (and organizations), it seems like we ought to have thought about this before.

The first question (what do you do?) can be answered in a very straightforward way (a trucking company, a roofing company, a risk advisor).

The second question (why does it matter?) is where it gets a little trickier. Why do you matter to: 1) your clients, 2) your employees, 3) your community?  

Topics: Leadership / Strategy