GreenRoad CEO Named 2009 Risk Innovator

REDWOOD SHORES, Calif. – September 15, 2009 – GreenRoad, a global pioneer in improving driving behavior, announced that Risk and Insurance magazine has selected Dan Steere, CEO of GreenRoad, as a winner of the 2009 Risk Innovator Award in the transportation category.

“I am honored to receive this award from Risk and Insurance, as it acknowledges the tremendous work of the entire GreenRoad team and our shared commitment to improving driving behavior and reducing risk for insurers and commercial fleets,” said Steere.

“Dan Steere was one of three winners in the transportation category of the Risk Innovator Award, out of more than 200 nominations in 15 categories,” said Jack Roberts, editor-in-chief, Risk and Insurance. “Dan’s extensive work on behalf of GreenRoad illustrates an original solution that diminishes risk and works to improve the safety of the transportation space.”

Innovative insurance carriers and brokers such as Marsh, Admiral and AAA work with GreenRoad to design new product offerings that attract and retain clients while increasing margins and decreasing insurance costs. GreenRoad partners with insurers and brokers to implement innovative new business models. Well beyond improved risk prediction, GreenRoad enables and supports behavior change programs that leverage our insurance partners’ brands and unique value propositions. In partnerships with a wide range of insurance and brokerage partners, GreenRoad is changing the entire life cycle value proposition of vehicle insurance programs.

GreenRoad enables insurers to increase their visibility into risk in real time, before a crash occurs. Insurers therefore improve predictability in their loss ratios as well as the profitability of their pricing models. GreenRoad insurance partners have reduced the frequency and severity of claims and have created marketing programs that attract and retain those customers most concerned with safe driving behavior.

GreenRoad continuously measures and analyzes those maneuvers which most impact safe driving, fuel efficiency and emissions; and focuses driver-specific feedback accordingly. GreenRoad combines automated in-vehicle driver coaching with integrated Web-based applications that continuously rate driving skills and behavior. Sensors analyze up to 120 risky driving maneuvers, and drivers receive real-time feedback in the form of a red-yellow-green LED display.

The Risk Innovator Award recognizes winners in 13 different industries who have demonstrated innovation and excellence in risk management in the past year. Winners were chosen based on their ability to identify emerging risks in their industry, their application of strategic risk utilization and the development of creative, out-of-the ordinary solutions for risk mitigation.

Since Dan Steere joined GreenRoad in September 2007, he has transformed the entire focus of the company and showed the fleet and insurance industries how to more effectively use risk management to achieve a compelling array of economic, environmental and human benefits.

While the industry is filled with single-purpose devices, particularly ones focused on vehicle diagnostics, Dan Steere recognizes that addressing the monumental problem of driving behavior – which contributes to 95 percent of crashes and up to 33 percent of fuel consumption – requires a more holistic human-centered approach. Before embarking on this transformation, Dan knew that taking this holistic, multi-dimensional approach would correspondingly require more than a high-tech hardware device for the vehicle and sophisticated software. Dan challenged the team to build a comprehensive service to address driving behavior, with an in-vehicle system connected to a suite of Web-based applications. He also oversaw the development of a program that provides customers with a step-by-step road map for success and the creation of an open multi-vendor platform for partners, enabling them to create complete best-of-breed solutions and protect their investment. The team was driven by the understanding that human behavior is more than a computer algorithm: behavior change requires incentives, rewards and positive coaching, and there are psychological needs and concerns that need to be taken into consideration as well.

About GreenRoad

GreenRoad is the pioneer and world’s leading provider of a comprehensive service to improve driving behavior. GreenRoad helps commercial fleets, insurers and consumers measure, improve and sustain safe and fuel-efficient driving behavior. The service integrates real-time, in-vehicle feedback, coaching, reporting and risk analysis tools to empower drivers to improve immediately. GreenRoad’s system is cost-effective, automated and fully scalable. Customers typically reduce crashes by up to 50 percent and cut fuel usage and emissions by up to 10 percent. The company is headquartered in Redwood Shores, Calif., with sales offices throughout the U.S. and UK and an R&D Center in Israel. Investors include Benchmark Capital, Virgin Green Fund, Amadeus, Balderton Capital and DAG Ventures. For more information, visit www.greenroad.com.

Editorial Contacts

Eric Weiss
GreenRoad
650-551-1532
eweiss@greenroad.com

Samantha Blau
Porter Novelli for GreenRoad
312-856-8814
samantha.blau@porternovelli.com

About GreenRoad

GreenRoad is the pioneer and world’s leading provider of a comprehensive service to improve driving behavior. GreenRoad helps commercial fleets, insurers and consumers measure, improve and sustain safe and fuel-efficient driving behavior. The service integrates real-time, in-vehicle feedback, coaching, reporting and risk analysis tools to empower drivers to improve immediately. GreenRoad’s system is cost-effective, automated and fully scalable. Customers typically reduce crashes by up to 50 percent and cut fuel usage and emissions by up to 10 percent. The company is headquartered in Redwood Shores, Calif., with sales offices throughout the U.S. and UK and an R&D Center in Israel. Investors include Benchmark Capital, Virgin Green Fund, Amadeus, Balderton Capital and DAG Ventures. For more information, visit www.greenroad.com.

Editorial Contacts:

Eric Weiss
GreenRoad
650-551-1532
eweiss@greenroad.com

Samantha Blau
Porter Novelli for GreenRoad
312-856-8814
samantha.blau@porternovelli.com

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