Challenge: The company sought to reduce accident risks by monitoring driver behaviour, including speeding, harsh braking, acceleration, fatigue, and driving consistency. Their existing data sources were fragmented, making it difficult to create a holistic driver risk profile.
Solution: Summit Solutions developed an advanced driver behaviour scorecard, leveraging data from on-board computers (OBCs). The system identified high-risk driving patterns, providing weekly and monthly scores per driver. Performance-based incentives were introduced to encourage safer driving habits. The data was integrated into their insurance risk model, allowing for personalised premium adjustments based on real-world driving behaviour.
Outcome:
- 20% reduction in accident frequency.
- Lower insurance claims and premiums due to proactive risk management.
- Improved driver accountability and safety culture.
- Increased policyholder engagement through incentive-driven safer driving programs
