Nexar, the provider of vehicle-to-vehicle network for preventing road collisions and enabling autonomous mobility, announced its vision-based Telematics solution which will leverage smartphone and cameras in automobiles to decrease accidents, better price auto insurance risk, and deter fraud.
Insurance companies today are searching for an affordable and connected telematics solution – one that goes beyond the more traditional telematics approach – to complete their digital insurance strategy for both personal and commercial lines.
Using smartphone technology, the Nexar application produces car maneuver information and uses computer-vision algorithms and deep learning to complement each event with context of the driving scene. Vision-based telematics provides the necessary data to unlock additional driver behavior insights.
It tracks driver’s ‘headway distance keeping’, which is a clear indicator of collision probability. Some drivers frequently tailgate other automobiles, which ultimately reduces reaction time should the car in front of them maneuver abruptly. The vision telematics solution scores ‘headway distance keeping’ in different driving scenarios. Another example is tracking the relative velocity of the user’s vehicle compared to the velocity of the vehicles near him, also known as the ‘Swarm Velocity’, where research have shown that a large difference could impact risk of collision.
Finally, an important benefit of this new, vision-based Telematics solution is that it does not solely rely on harsh events, but rather takes into account every second of driving, providing statistically significant results after a shorter tracking period and miles driven. As a result, the driving score can also adapt better to the effects of coaching.