St Germain en Laye, November 5th 2024.
“According to the American Transportation Research Institute, commercial motor carriers have experienced a nearly 50% increase in per-mile insurance premium costs. This rise is further illustrated by data showing that truck insurance premiums escalated from 6.4 cents per mile in 2013 to 8.8 cents per mile in 2022.”
Fatalities can have a astronomical cost after trials, a couple of dozen $ million, without talking about psychological damage for drivers who caused these accidents. Others factors of increase are medical costs and costs of repair which follow inflation and have to be paid by insurance companies.
“An increase in the number of accidents or the severity of these accidents results in more claims being filed, which in turn puts upward pressure on insurance premiums.”
After more than 10 years of experimentation of Pay How You Drive tools and regular ADAS such as emergency detection, Criticality assessment and fast reflex automation, why do not try a new paradigm, a game changer that brings better results and allows better negotiations with insurers?
Nexyad offers an on-board, real-time tool that analyzes each driver’s driving behavior 20 times per second in relation to the road context. The vehicle (truck, car, two-wheeler) is detected where it is with its speed and accelerations on the road infrastructure, and we analyze what is in front (all types of curves, intersections, pedestrian crossings, stops, school zones, etc.). If and only if the speed is not adequate when approaching such difficulties, we can alert the driver in order to give him time to reduce his speed and avoid critical situations.
Nexyad tool is available on MotivAI smartphone App, or can be integrated into any devices (your app, telematics box, dashcam, etc.)
. Reduce accident rate by action.
. Understand your drivers’s behavior with recorded data.
. Allow personalized coaching for road safety.
. Reduce cost for operations.
See Nexyad page BYOD Solutions
Read Article by UniversalPositioning.com: https://www.positioninguniversal.com/2024/06/18/navigating-rising-insurance-premiums-a-guide-for-small-to-medium-sized-fleets/#:~:text=According%20to%20the%20American%20Transportation,cents%20per%20mile%20in%202022.
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