Geotab and Vitality reward good drivers

Geotab, a company specializing in fleet management and telematics, has just signed a new partnership with Vitality, a company specialized in improving health and well-being. The two new partners recently announced the creation of a joint venture to optimize the performance of commercial fleets by launching a new platform focused on driver behaviour change.

FACTS

• The main objective of the new joint venture between Geotab and Vitality is to Insurance platform based on scientific tools and behavioural analysis of drivers.

• This approach is based on a proactive approach aimed at improving the well-being of drivers but also at optimising their driving habits by rewarding efficient drivers throughout their experience.

• Drivers will receive personalized advice as well as personalized weekly driving targets and will be able to earn points based on their performance. These points will then be redeemable for rewards.

• To increase relevance and efficiency, the program integrates AI technologies capable of combining:
  • Geotab's predictive collision risk analyses (which include comparison and classification between different drivers, according to their vehicle types and the geographical areas in which they operate);
  • Vitality's behavioural science expertise.

• The program is currently open on waiting list.

ISSUES

• Reversing a model Geotab and Vitality now offer an offer that can reverse incentive systems. This approach goes beyond that of Pay How You Drive in the sense that behaviour analysis is no longer only a basis for calculating premium amounts but includes a proactive effort to reward drivers on a daily basis.

• Defending a positive approach : The new program of Geotab and Vitality finally relies on setting up a virtuous circle. Rather than sanctioning increased premiums, the model relies on positive daily incentives and the sharing of personalized information to encourage drivers to adopt safer behaviours.

• Capitalizing on Promising Tests : The first tests conducted by the two new partners reported a 9% increase in the average driving performance of drivers involved in the 8-week pilot programme.

• Reducing a major risk : According to National Highway Traffic Safety Administration (NHTSA) data, highlighted by Vitality and Geotab, road accidents cost the Americans $340 billion in 2019. And human behaviour is identified as the main risk factor for collision and associated costs. 60% of the collisions are directly caused by driving distraction or loss of vehicle control, for example.

PERSPECTIVE

• This collaboration between Geotab and Vitality introduces an innovative approach to fleet management, focusing on encouraging and rewarding good driving practices, while relying on advanced data, technology and analysis to support drivers in their progress.

• However, the concept of behavioural analysis and behavioural insurance in the automotive sector is not new since Ford and Nationwide associated in 2020. But again, the model was limited to prior processing of data for the sole purpose of calculating drivers' personalized insurance premiums.

Traduit automatiquement via Libretranslate / Automatically translated via Libretranslate