eDriving, FICO Partner on Driver Safety Measurement
eDriving, a major provider of online driver training and risk management services, has partnered with analytics software firm FICO to develop the FICO Safe Driving Score.
New scoring algorithms will capture driving behavior to develop a risk predictor.
“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,” eDriving and FICO said in a released statement.
The strategic partnership between eDriving and FICO will be one of the centerpieces of eDriving’s new “closed loop” driver training offering called Mentor. Mentor will initially serve the fleet market and the teen/novice driver market, with expected launch dates in the fourth quarter of this year and the first quarter of 2017, respectively.
eDriving’s Mentor is a new smartphone telematics solution that will capture acceleration, braking, cornering, speeding, cellphone distraction, and other behavioral data. Mentor will also provide the proprietary, predictive analytics platform to fuel the FICO Safe Driving Score.
Furthermore, Mentor will provide a “playlist” of interactive training interventions customized for each driver, based on his or her risk profile. FICO has developed the score based on empirical research of driving behaviors that can predict driver performance, risk, and on-road safety performance.
eDriving’s Mentor and the FICO Safe Driving Score will help good drivers prove their low-risk profile, and also help high-risk drivers better understand their risk exposures and learn ways to mitigate those risks, according to the companies.
“By working with an analytics powerhouse like FICO, we’ll have an enormous impact on what is happening on the road and create benefits that ripple through the entire driving ecosystem,” said Celia Stokes, CEO of eDriving.
FICO and eDriving are also forming an advisory board to develop the FICO Safe Driving Score into a standard for all drivers.