Zurich has teamed with underwriting agency Mercurien Insurance on a motor fleet product that uses telematics to track performance and collect data for business tax records.

Insurtech Mercurien’s BetterDriver technology provides information on braking, cornering, acceleration, speed, distance and duration of journeys, and trip purposes and locations.

Mercurien co-founders Michael Graham and Andrew Murrie say the technology allows fleet managers to monitor operations in almost real time, and reflects a trend towards increasing use of data in motor insurance.

“The ability to measure and manage data for risk and safety will become paramount,” Mr Graham said. “The outcome we seek is fewer injuries, fewer crashes, lower costs, less downtime, reduced fuel usage and enhanced asset utilisation.”

The Tax Office says the technology satisfies log book and other record-keeping requirements for fringe benefits tax and fuel tax credit rebates.

Zurich is expanding its expertise in telematics globally and last year bought Hong Kong-based technology company Bright Box, which has operations in Europe.

“Mercurien’s offer is broader than telematics,” a Zurich spokesman told insuranceNEWS.com.au.

“It also has a focus on accuracy and simplicity around fuel tax rebates and fringe benefits tax compliance, and holds relevant class rulings from the Tax Office.

“We’re excited to back its insurance offering and believe it complements our broader fleet motor proposition.”

Zurich Mercurien Motor Fleet Insurance became available last Friday.