Cortaga: Delivering a Proactive Broker Platform for Driver Safety

Tom Shuey, CFO , CortagaTom Shuey, CFO
As a risk advisor for two of the top ten largest international insurance brokers, Bob Shuey, CEO, Cortaga couldn’t help but notice a striking predicament. The telematics devices used by most of the national auto fleets for driver safety were incapable of reducing the auto accidents due to inability to detect cell phone distracted driving and thus, had little impact on insurance costs. With an aim to solve this quandary, Bob set out to change the fleet industry by providing a cost-effective way to monitor and control unsafe driving habits as well as allow brokers to interact with their clients through the Risk Manager portal and proactively manage client fleet safety.

Based out of Dallas, TX, Cortaga delivers an all-mobile app which doesn’t require any hardware (uses only smartphone sensors) or an installation process and allows fleets to improve driver behavior, reduce premiums, and become more profitable. While running in the background of the driver’s phone, Cortaga calculates a score for each drive based on driver behavior including texting and driving, speeding, harsh braking and acceleration, aggressive driving, potential accidents, and more. Cortaga’s platform easily identifies problem drivers and allows the company to work with the driver to improve safety, mitigate liability, and achieve insurance cost reduction.

Through the app, brokers can monitor daily/weekly activity for the auto fleet and help them in maintaining current clients and acquire new clients by using this tool for risk management. “The app’s broker dashboard allows fleets to connect with the brokers and devise a loss control solution where brokers can help identify the problems of each company,” says Tom Shuey, CFO, Cortaga.

Additionally, the firm delivers an internal safety coach that works with both the broker and fleet, and adds another level of safety oversight. The dedicated safety coach adds several layers of assistance with weekly safety reports, actionable recommendations for drivers, and a broker-to-client portal manages client accounts and analyzes reports for improved insurance benefits.

Bob Shuey, CEO , CortagaBob Shuey, CEO
The platform also endows brokers with their own risk scores that assist them in increasing commissions and profit sharing from the insurance carriers. “The brokers can use this score and the customized insurance reports to prove to underwriters they actually help their clients with safety and loss control to become a best-in-class safe fleet, which gives underwriters the evidence they need to provide the deepest possible discounts, states Bob. Thus, the exclusive broker dashboard allows agents to proactively monitor client performance and set customized alerts to assist with improving fleet safety, giving brokers an edge over their competition. In a huge turn around instance, Cortaga helped one of their clients with a 260 percent loss ratio in the first half of the year to achieve a zero percent accident rate among Cortaga users and are looking at only a minimum increase in their premium.

The app’s broker dashboard allows fleets to connect with the brokers and devise a loss control solution where brokers can identify the problems of each company

With an experienced workforce at their helm, the firm has a clear understanding of the current technological trends in the Insurance Broker market and is aiming to expand to Canada. On the product side of things, Cortaga has two products in their pipeline for 2018 based on the needs of their clients. “We are a lean organization and are highly focused on serving the needs of our clients. We have witnessed a great growth transition and are looking to shake up the Insurance Broker status-quo,” concludes Bob.