DALLAS, Nov. 2, 2015 /PRNewswire/ -- Omnitracs, LLC today announced the introduction of its Accident Severity Model to take the data collected via compliance-centric Hours of Service (HOS) applications and use it to proactively manage risk. Designed for any fleet using an electronic HOS management system, regardless of size, Omnitracs' Accident Severity Model identifies the highest risk drivers who are most likely to be involved in a serious accident, thereby enabling proactive intervention to prevent accidents, reduce related expenses and enhance overall safety. Based on a 10-year study of nearly 208,000 crashes, the Accident Severity Model accurately predicted 90 percent of severe accidents in the 50 percent of drivers deemed to be at highest risk.
"With the ELD mandate imminent, fleets are acutely aware of the need to operate in accordance with current and pending regulations. Among the positive outcomes of the increased focus on hours of service management is the fact that many in the industry also recognized the critical importance of looking beyond basic compliance to ensure the safe operation of trucks on our nation's roads," stated Dean Croke, vice president of analytics at Omnitracs. "What many in our industry don't realize is that it's possible to be 100 percent compliant with HOS regulations and be sound asleep at the wheel, simultaneously. This is why we've developed the Accident Severity Model—to allow fleets to predict serious accidents using HOS data and proactively intervene with those drivers at highest risk for being involved."
At launch, Omnitracs' Accident Severity Model relies on objective data to measure true performance rather than relying on drivers' perception of their condition and alertness. The model predicts drivers likely to have an incident based on both loss of control, in which there is a complete disconnect from the driving task, and distraction—or lack of concentration. Coming soon, it will even feature two-way technology that pulls data from the Hours of Service application and returns tailored safety measures to the driver, essentially serving as a virtual co-driver.
"Data shows that the average severe accident cost has a very wide range due to the random nature of the event from $250,000 to $1 million, not including injury, damage to a fleet's reputation or long-term impacts associated with higher insurance premiums, making the financial benefits of preventing such incidents obvious," noted Croke. "Omnitracs' Accident Severity Model allows fleets to predict accurately a significant proportion of crashes, thereby reducing expenses and mitigating resulting outcomes up to and including loss of life. If a carrier prevents only one severe accident in five years, a fleet of 25 trucks would experience a return of more than 10 times its investment in the solution."
Until now, predictive modeling has been limited primarily to large fleets, whose resources and access to volumes of data from multiple sources served as the foundation for advanced analytic-based insights. Omnitracs' Accident Severity Model allows fleets of all sizes to benefit from sophisticated algorithms and technology to improve safety outcomes. Any fleet generating Hours of Service data can implement this solution to prevent frequent, low-value claims and infrequent, but high-value claims—both of which can significantly damage the bottom line.
For more information about Omnitracs Accident Severity Model, please visit http://www.omnitracs.com/solutions/data-analytics.
About Omnitracs, LLC
Omnitracs, LLC is a global pioneer of fleet management, routing and predictive analytics solutions for private and for-hire fleets. Omnitracs' nearly 1,000 employees deliver software-as-a-service-based solutions to help more than 50,000 private and for-hire fleet customers manage nearly 1,500,000 mobile assets in more than 70 countries. The company pioneered the use of commercial vehicle telematics over 25 years ago and serves today as a powerhouse of innovative, intuitive technologies. Omnitracs transforms the transportation industry through technology and insight, featuring best-in-class solutions for compliance, safety and security, productivity, telematics and tracking, transportation management (TMS), planning and delivery, data and analytics, and professional services.
SOURCE Omnitracs, LLC