How Tech Is Saving Lives On the Road
According to the National Highway Traffic Safety Administration (NHTSA), more than 36,000 traffic deaths happened in 2019 and 2018. COVID-19 lockdowns didn’t save the figure from increasing any further in 2020, since NHTSA data reveals a shocking rise in traffic-related fatalities in the first nine months of the year relative to the same timeframe in 2019.
Over the past 40 years, technical advances have played a crucial role in shielding travelers, and they could play a much bigger role in decreasing the figures above once insurance catches up.
According to a 2018 NHTSA survey, human error was to blame for the overwhelming majority of car accidents. However, sophisticated driver-assistance equipment has the potential to mitigate human error.
According to LexisNexis research reported in June 2020, automobiles fitted with ADAS technologies had a 19 percent reduction in vehicle accident level and a 27 percent reduction in occupant injuries.
As customer appetite for automotive protection and, as a result, ADAS integrations has risen, businesses have sprung up, each with their own specific approach to assisting drivers. Mobileye, an Israeli corporation that produces ADAS and autonomous driving technologies, uses an installed camera to map the road landscape and its EyeQ processor to process sensor data to include a range of road safety features such as lane divergence warnings and forward collision notifications.
Continental Automotive uses lidar, radar, and a camera sensor to provide the driver with a 360-degree view of the route, as well as features including brake assistance, blind spot warning, and lane shift assist.
Ride Vision has continued in the footsteps of its four-wheeled equivalent by creating a one-of-a-kind approach for bikes, which historically lacked the same level of difficulty. Ride Vision captures data from two front and rear sensors, which is loaded into a processing device that intelligently accounts for the unique maneuvers of a two-wheeled car.
1For passengers, the organization has several regular functionality such as forward crash notifications, hazardous overtake alarms, and distance-keeping warnings. They can also report the trip results, which can then be forwarded to a participating insurer for rate reductions.
• Technology that is Underutilized
Why are the extra ADAS innovations underutilized because there are too many choices for incorporating more ADAS technology?
One explanation is that drivers actually do not grasp the car’s ADAS functions or integrations to the degree that they can. Erie Insurance conducted a national survey of American users, and many of them claimed that the built-in ADAS functions in their cars were irritating, or that they actually enjoyed getting more power over the car for certain features, so they disabled them. Even then, when asked, “Do you like a car with all of these features?” several people said yes.
• The Causes are far More Detailed.
To help explain why riders and drivers are not implementing ADAS technologies beyond what is currently integrated into their cars, we should return to the Travel Vision insurance initiative. It’s not enough to convince customers that “security is important”; there has to be some form of financial reward. One is given by Mobileye, for example.
Mobileye worked with the Israeli government in 2019 to give Israelis a $415 tax cut on their car purchasing if they incorporated Mobileye. AIG, a global insurance conglomerate, gave Israeli drivers a 20% break on their premiums if they incorporated the company’s technologies in 2017.
However, although these organisations recognised the significance of technology in minimizing injuries and took the lead in promoting acceptance, most insurance providers are lagging behind for a range of factors.
First, insurance providers would select between providing rate incentives to drivers and passengers, which may result in millions of dollars in missed income, and the risk of injuries, which ensures they would have to compensate thousands of dollars in penalties less often. Furthermore, compensating a victim with a car that has ADAS technologies incorporated is more expensive than compensating a victim with a vehicle that does not.
Understanding how to assess ADAS for insurance rates is the second, and most important, impediment to insurance-linked ADAS adoption. Insurance firms are seeking to establish mechanisms for measuring the efficacy of each ADAS technology and how it relates to competing solutions, as well as assessing what the acceptable discount might be for a driver who utilizes ADAS technology.
Swiss Re, for example, is at the forefront of seeking to work out ways to maximize usage and improve road protection. The Swiss Re ADAS danger score was established in 2018 by Swiss Re and the BMW Group. It integrates technologies already implemented in cars with a huge volume of claims data to provide a simple view of the safety systems’ effects. Premiums that are more accessible will boost road protection and, as a result, durability.
The organization recently conducted a workshop with Israel-based open innovator SOSA, which aims to foster creativity within organizations by streamlining processes and allowing them to solve problems like these.
For the time being, insurance firms remain behind the curve, yet with further study and funding, they would be able to develop plans that appeal to drivers’ unique ADAS needs and the technologies they utilize.