edrivingFICO 200 135eDriving to combine industry-first FICO Safe Driving Score with launch of new Mentor telematics “closed loop” driver training and risk reduction program

Highlights:

  • eDriving(SM) and FICO partner to launch a groundbreaking safe driving score
  • Just as the FICO® Score is the standard measure of consumer credit risk, used by all players in the credit ecosystem, the FICO® Safe Driving Score will provide a measure that facilitates consistency and fairness in driver safety assessment
  • The score will be made available initially through eDriving’s Mentor℠ smartphone telematics solution
  • The Mentor offering and FICO Safe Driving Score will roll out first to the fleet driving market and teen/novice drivers safety and education before mainstream rollout
  • eDriving and FICO are recruiting members for an industry advisory board to facilitate turning the FICO Safe Driving Score into a powerful, ubiquitous industry score

eDriving, the largest provider of online driver training and global driver risk management solutions, announced it has partnered with leading analytics software firm FICO to launch new scoring algorithms to capture driving behavior and develop a transformational risk predictor — the FICO® Safe Driving Score. Just as the FICO®Score is the standard measure of consumer credit risk, used by all players in the credit ecosystem, the FICO Safe Driving Score will provide a measure that facilitates consistency and fairness in driver safety assessment.

The strategic partnership between eDriving and FICO will be one of the centerpieces of a new “closed loop” driver training and improvement offering by eDriving, called Mentor™. The Mentor offering will initially serve two key marketplace segments: the fleet market and the teen/novice market, with expected launch dates in Q4 2016 and Q1 2017, respectively.

eDriving’s Mentor is a new smartphone telematics solution that will capture acceleration, braking, cornering, speeding, cellphone distraction, and other behavioral data, as well as provide the proprietary, predictive analytics platform to fuel the FICO Safe Driving Score. Furthermore, Mentor will provide a “playlist” of engaging interactive training interventions customized for each driver based on his or her risk profile. FICO has developed the score based on its empirical research of driving behavior inputs known to predict driver performance, risk, and on-road safety performance.

The Upside of Improving Your FICO Safe Driving Score

eDriving’s Mentor and the FICO® Safe Driving Score will empower good drivers to prove their low-risk profile. It will also help high-risk drivers understand their risk exposures, how those factors affect their safety, and what they can do to manage, control, and mitigate their risk of crashes, thereby improving their driving and ultimately better controlling their insurance costs. The solution provides broad and measurable benefits for drivers as well as fleets of all sizes, and results in safer drivers, safer roads, and reduced costs.

Advisory Board to Oversee Path to Mainstream Adoption

FICO and eDriving are also forming an advisory board to develop the FICO Safe Driving Score into a standard for all drivers. The advisory board will include representation from insurance companies (both commercial and personal), brokers, fleet, and incident management companies, other telematics service providers, and car manufacturers to define a beneficial industry standard, which does not exist today.

About eDriving 

eDriving is the largest provider of online driver training and global driver risk management with more than 10 million U.S. consumer customers to date and 700,000 fleet drivers worldwide annually. In addition to providing state-regulated online novice driver training (a.k.a. drivers ed courses and drivers permit certification) and online driver improvement courses (a.k.a. traffic school), our focus is on helping drivers become smarter and safer behind the wheel in close partnership with corporations, fleet services, and insurance companies.  Our mission is to maximize road safety by using technology and online learning expertise to empower smarter, more reliable drivers to be in control of their behavior behind the wheel.  For more, visit www.edriving.com.

Source:  eDriving and FICO