Focused on Driver Safety for Fleets and Insurance Companies
Customers of Innovative, Benchmark Capital and Balderton Capital-funded Company Achieving an Average of 54 percent Accident Reduction and 65 percent Lower Accident Costs
REDWOOD SHORES, Calif., – September 17, 2007 – GreenRoad Technologies Inc., an innovative leader in driver safety technologies, today announced the launch of the company, expansion of its offices into Silicon Valley and the UK and a new global management team. GreenRoad is focused on improving driver safety for fleets and insurance companies with its Safety Center solution. Safety Center reduces driver crashes by an average of 54 percent, lowers accident costs by an average of 65 percent and reduces fuel consumption by an average of 7 percent—without invading driver privacy. By empowering drivers to manage their own safety, GreenRoad can change driver behaviour behind the wheel.
With funding from Benchmark Capital and Balderton Capital (formerly Benchmark Europe) http://www.benchmark.com, GreenRoad recently established new headquarters in Silicon Valley and opened offices in the UK—in addition to its previously existing office in Israel, where the company was founded in 2002. GreenRoad has been operating under the name of DriveDiagnostics while in the testing phase, and has been testing its Safety Center solution for more than two years with pilot customers in the US, UK and Israel.
The company has recently hired a global management team that includes:
GreenRoad Clients See Reduced Accident Rates and Costs
During its testing phase, GreenRoad partnered with a number of pilot customers including T-Mobile http://www.t-mobile.co.uk/ in the UK. GreenRoad deployed Safety Center in T-Mobile service vehicles starting in late 2006. The results of this trial, as audited by independent risk management specialists, include an annual reduction in crash costs of 23 percent. Additional research from GreenRoad has shown that the average accident cost reduction its customers are achieving is 65 percent.
GreenRoad rates drivers as red, yellow or green (the safest) depending on their behaviour. Over a six-month period, the T-Mobile fleet driving improved dramatically from 69 percent red drivers and 10 percent green drivers to 35 percent red and 38 percent green. In addition, fuel consumption from January to March 2007 dropped 2.8 percent.
“Our number one priority at GreenRoad is to improve driver safety. Our solution enables the driver to be in-control of the situation and improve their driving habits for an overall safer experience,” said Dan Steere, CEO of GreenRoad. “Many times fleet managers meet resistance from drivers who oppose a monitoring system, but GreenRoad empowers drivers to manage their own safety. Safety Center changes driver behaviour to reduce the number of collisions—all with zero invasion of privacy.”
More about Safety Center
GreenRoad Safety Center combines in-vehicle driver coaching with integrated web reporting for an advanced approach that rates driving skills without invading the driver’s privacy or tracking location. Safety Center uses a sensor in the car to collect information about driving skills. The sensor detects 120 different driver maneuvers in five categories: speed, braking, acceleration, lane handling and turning. GreenRoad’s research and development team spent five years developing algorithms that analyse the raw motion data and convert it into meaningful information about driver behaviour and patterns. These results were then compared to driver safety statistics and found to be accurate in predicting high risk drivers.
Safety Center continually sends data from the car to a web server. Every minute the vehicle is on the road is instantly analysed, not just exceptional events, giving a holistic view of the driving experience.
Through extensive testing, GreenRoad has developed a methodology to communicate feedback effectively to drivers using light signals on the dashboard, and optional SMS and email messages which can be customised according to driver preferences. Drivers, fleet managers and insurance companies can also use Safety Center’s suite of web-based driver performance management tools to view high-level reports on driving performance as well as exception-based reporting. Drivers can see which areas they need to improve, and fleet managers and insurance companies can immediately pinpoint high-risk drivers and effectively target specific training measures.
Safety Center is an easy-to-install solution and is customisable for individual fleet policies. It automatically generals reports and send feedback to drivers, making it scalable to implement in the largest fleets in the industry without requiring additional in-house support. Safety Center customers have:
GreenRoad provides a single, comprehensive telematics solution to both change driver behaviour and manage fleet performance and efficiency. Its solution engages drivers directly for meaningful, lasting behaviour change. At the same time, fleet tracking, mapping and reporting help fleets optimise their daily and strategic operations. To GreenRoad customers this means increased safety and customer satisfaction and reduced operating costs for a clear competitive advantage.
Dr. Ursula Ron
Online Marketing Manager