IVOX, the expert in predictive driver risk management, today announced the release of its patent-pending DriverScore 2.0, a driver risk management system designed to predict individual driving behavior for the fleet industry.
DriverScore provides 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.
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.
DriverScore can be used as:
A management and training tool for fleets.
A determinant for driver hiring and compensation
A component for price setting of commercial, personal and reinsurance policies for self-insured private fleets.
A way to more accurately asses the underwriting risk associated with a particular driver
DriverScore 2.0 will be available Feb. 1.