March 7, 2017 by Canadian Underwriter
DrivSafe, a Boston, Mass.-based mobile telematics solutions company that specializes in telematics and analytics for the auto insurance industry, has announced the launch of its mobile app in Canada.
The DrivSafe app helps auto insurance companies evaluate the driving habits of their policyholders and offer discounts to good drivers, the company explained in a press release issued on Sunday.
“Since traditional methods for auto insurance pricing relies on socio-economic profile and does not take into account actual driving behavior, DrivSafe mobile telematics offers an economical way to improve pricing accuracy by including driving habits into the traditional pricing process,” DrivSafe said.
The app is available for iPhone and Android-based smartphones and may be downloaded from Apple iTunes and Google Play. It is free for personal use for all drivers.
According to DrivSafe, the smartphone app is based on the company’s proprietary technology that evaluates driving behavior on multiple dimensions, including distance travelled, speed, time of day, geographic footprint distractions while driving, among others. “These dimensions have been shown to correlate with the chances of getting into auto accidents,” the release said, adding that this unique system to monitor and evaluate driver behavior was awarded patent rights in Canada last year.
After users download and install the app on their smartphones, it learns the user’s driving habits for seven days. The app then compares the driving behavior of individual drivers to other drivers and gives them a personalized report card, with scores ranging from A (best) to F (fail). The scores are displayed through an easy-to-understand graphical interface in the app. In addition, the app provides tips to drivers on how to improve their driving habits. “This would help individuals save money on their auto insurance premiums and improve overall road safety,” the company said.