A new predictive model designed to help private fleets reduce vehicle accidents is now available from Ft. Lauderdale, FL-based PHH FirstFleet.
Developed via a partnership with Alpharetta, GA-based FleetRisk Advisors, this new service compiles information about drivers and vehicles – in part by using onboard telematic systems – then analyzes that data to identify high risk drivers, thus helping fleets be more proactive in addressing behaviors that can lead to costly accidents and litigation.
“According to our 2007 Fleet Managers’ Survey, driver safety and retention are two of today’s leading industry concerns,” said Mike Lewis, PHH FirstFleet’s president & gm. “In fact, nearly 85% of fleet managers indicated that they endorse measuring driver habits and past performance to reduce risk, demonstrating the clear need for a new approach and solution.”
At its heart, Lewis said the new service is not only designed to predict which drivers’ behaviors are likely to cause accidents – thus helping prevent those collisions from happening – but can be tailored to specific fleet needs, operations, and systems. It provides online reports of drivers ranked from high to low risk and the associated risk factors for each driver, as well as consultation around countermeasures and training to reduce high-risk driving behavior. In addition, fatigue can be incorporated within the model or addressed via a stand-alone analysis.
Lewis noted that fleets pilot-testing the model reported major cost savings, with overall accident frequency down by 23%, average accident costs dropping 66%, and severity of related accident costs falling 67%. Driver retention actually improved through use of the system, with turnover dropping from 84% to 42%.
“We are thrilled with the results our pilot tests have shown so far,” added Lewis. “The results have been incredibly accurate, which prove predictive modeling will have a significant impact on the business of our clients.”