IVOX, a developer of predictive driver risk management technology, announced the release of its DriverScore 2.0, a driver risk management system designed to predict individual driving behavior for the fleet industry.
DriverScore offers an objective measurement of individual driving behavior, according to the company, which provides an accurate picture of the relative driving performance risk when analyzed and compared with IVOX's repository of GPS/GIS and accelerometer data.
"Insurers increasingly are using tools such as predictive modeling to be able to limit risks and improve underwriting profitability," says Kimberly Harris-Ferrante, research vice president with Gartner. "Using tools to perform real-time data analysis to predict driving risks and accident likelihood ultimately will 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 then is analyzed through algorithms to create a risk-adjusted, objective assessment of driver conduct. Fleets can use this score to ensure the safety of their drivers and other motorists on the road. The 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 offering insurance companies objective proof of safe driving behavior.
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