IVOX introduces predictive driver risk management system for fleets

The Trucker News Services

1/30/2008

ATLANTA — IVOX has released its patent-pending DriverScore 2.0, which the driver risk management company touts as the first system designed to predict individual driving behavior for the fleet industry.

DriverScore is designed to provide an objective measurement of individual driving behavior which, when analyzed and compared to IVOX’s repository of GPS/GIS and accelerometer data, provides an accurate picture of the relative driving performance risk.

“Insurers are increasingly using tools like predictive modeling to be able to limit risks and improve underwriting profitability,” said Kimberly Harris-Ferrante, research vice president with Gartner. “Using tools to perform real-time data analysis to predict driving risks and accident likelihood will ultimately help insurers meet these business requirements. Used for fleet insurance, this gives insurers the opportunity to distinguish safe drivers from drivers who are simply accident-free, promoting safer driving and accident prevention.”

IVOX’s DriverScore helps companies to reduce insurance costs through the use of a “black box” device embedded within an individual’s vehicle, which gathers ongoing data measuring a driver’s behavior — including acceleration, braking, lane changes and other actions. This data is then analyzed through algorithms to create a risk-adjusted, objective assessment of driver conduct.

Fleets can use this score to insure the safety of their drivers and other motorists on the road, for unlike other driver risk management services, IVOX’s technology provides the data necessary to identify high-risk motorists before an accident occurs, informing individuals of risk to promote safer behavior and providing insurance companies with objective proof of safe driving behavior.

“As driver shortages and fuel prices continue to increase, fleets are looking for ways to reduce costs,” said Gregg Warren, CEO of IVOX. “By allowing fleets to more accurately reward good performance and prevent dangerous driving behavior, we hope to help keep drivers safe while reducing insurance costs, typically the third highest line-item expense for large fleets.”

The software, now in its second release, provides scalability and added functionality, making it even easier for fleets to implement and benefit from the technology.

“Trucking fleets need tools to assist them in assessing and improving driver behavior,” said Dave Osiecki, vice president of safety for the American Trucking Associations. “Systems that help fleets identify and proactively address unsafe driver behaviors are in demand.”

DriverScore 2.0 will be available Feb. 1.