INSURANCE INDUSTRY FACTS
According to the Center for Disease Control, auto accidents are a “serious public health problem”.* Driver behaviors such as speeding, distracted driving and drinking alcohol increase the risks substantially. Lives are lost or changed forever by motor vehicle accidents—how can insurance companies help keep drivers safe on the road—as well as minimize the economic costs involved with motor vehicle accidents, which are staggering.
The Center for Disease Control reports that medical care and productivity losses associated with motor vehicle crash injuries was over $99 BILLION in 2010 or $500 for each licensed driver in the United States.
Private insurers pay approximately 50% of the costs*** involved with auto accidents, so saving lives and preventing auto accidents are a huge priority for insurance companies.
Video: Sprint Usage Based Insurance Solutions
UBI SOLUTIONS - INSURANCE CARRIERS
Insurance companies can combine traditional methods of risk assessment with Sprint’s UBI user friendly technology to saving lives and saving money. Sprint Auto Safety is a turnkey program that we can implement for your business efficiently and quickly.
Recent studies show that driving behavior is the most predictive risk factor--more than twice as predictive of claim costs as any other factor.****
- Drivers with the highest-risk driving behavior have loss costs that are 2.5 times higher than drivers with the lowest risk behavior.****
- Speeding is one of the most prevalent factors contributing to car crashes. Research shows that speed was a contributing factor in 31% of fatal car crashes.*****
- Fatigue was a factor in 1 in 6*** of the fatal automotive crashes, according to AAA.