Driver Risk Scorecard and Driver Risk Score Bureau for a Licensing AuthorityPublic Sector & Government Authorities
Adherence to road safety rules and regulations is an essential factor in safeguarding lives and reducing risk for everyone. Whenever we are driving, we are taking a potential risks, and by neglecting any rule,we are increasing risk for all whether it is other drivers, riders, or pedestrians. However, not all individuals approach driving with the same level of care. Some exhibit reckless behavior like road rage, excessive speeding, and risky maneuvers, whereas others are cautious, adhering to traffic laws diligently. Insurance providers also consider this variability by adjusting premiums based on driving behavior.
The client, the licensing authority of a GCC country, aimed to enhance road safety by identifying high-risk drivers and wanted a create monetization service through assessing drivers risk.
Challenges
- Identify the major high-risk drivers for accidents.
- Develop a model to predict Severity from low to high based on the risk factors.
- Developing a monetization mechanism based on the risk.
Our team provided an analytical solution through the following:
- Predictive Model
Developed a model to predict high-risk drivers for committing high-severity and low-severity accidents.
- Custom Monetization Solution
Implemented a Java-based custom solution that provides on-demand driver risk reports, including token authentication and encryption.
- Dashboard
Developed a dashboard for the business teams to provide insights on the effectiveness of training institutes and to target high-risk drivers specifically.
Our analytical solution enables the licensing authority to proactively identify and manage driver risk, leading to improved road safety outcomes.
Benefits
- Improved Road Safety
By accurately predicting high-risk drivers, the licensing authority can take preventive actions to reduce the likelihood of accidents.
- Risk Management
Using Monetization solution risk company can adjust the premiums and manage risk more effectively.
- Enhanced Decision Making
The dashboard provides business teams with valuable insights into the effectiveness of training institutes and the targeting of high-risk drivers.