If we are not watching driving behavior carefully, it can easily have a negative impact on a company’s bottom line. Better understanding of key data points can help bring clarity to poor total cost of ownership (TCO), and bring to life agonizing trends and enable fleet managers to take action to stop the "bleeding."
Many of us were awestruck by some of the figures shared by our telematics partner, Geotab, not too long ago. They said employers in the United States collectively pay $60 billion annually for motor vehicle crashes involving their employees in direct expenses – wow! The Occupational Safety and Health Administration (OSHA) reported that each fatal car crash averages a payout of $500,000. This loss can exceed $1,000,000, depending on the severity and legal outcome.
Sadly, it doesn’t end there. Poor driver behavior can also adversely impact the number of vehicle incidents, driver productivity, vehicle downtime and replacement. Poor driving can also increase fuel and maintenance costs by large percentages, hitting a fleet’s efficiency performance levels. As the saying goes, more is NOT always better. However, in this context, data abundancy bodes well with what we are trying do with OneScore.
Though the world at large is still getting used to the advanced features in today’s cars to keep people safe, more Adaptive Driver Assistance Systems (ADAS) data points will bring additional opportunities to connect vehicle data with TCO. With advanced tech like lane and steering assist that beeps [loudly] every time you take your eyes off the road, or when there’s a car right in your blind spot, drivers can get real-time car feedback for corrective action, but so can fleet operators! With embedded technologies becoming more common, carmakers are collecting massive amounts of data from every make and model out there.