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DriveCam Video Systems Completes Insurance Study for Commercial Fleets

January 15, 2002

DriveCam Video Systems, a provider of vehicle safety systems, announced Jan. 15 the results from the completion of a twelve-month intensive insurance study.

According to the company, fleets in the study reduced physical damage from collisions by 35 to 99 percent by using the DriveCam video event data recorder. Initiated by the insurance agency Hilb, Rogal & Hamilton Company the program was designed to evaluate the impact of DriveCam on the frequency and severity of collisions in commercial fleets and included more than 100 vehicles in multi-geographical areas.

"The data gathered in this study clearly demonstrates the benefits of DriveCam to fleet operators and the insurance industry," said Bill Lindsay, vice president of HRH. "In addition to reducing the frequency of claims, the use of DriveCam in these fleets has now been proven to reduce the severity of claims and the resulting repair costs."

DriveCam uses video technology to record what drivers see and hear during unusual driving incidents. G-forces caused by activities such as hard braking, acceleration, harsh cornering or collisions trigger DriveCam to save a driving event for later viewing. As part of a complete Driving Feedback System, it is used by commercial fleets to monitor, track and improve driving performance. DriveCam's digital recording allows fleet managers to view an event on a TV, camcorder or personal computer.

Tran-Star Executive Transportation Services, a large limousine service in Dear Park, N.Y., is one of the fleets in the program. Within weeks of installing DriveCam in 65 vehicles, the company began experiencing loss reductions, according to Tran-Star. At the completion of the program, owner Steve Paul reports that DriveCam and the Driving Feedback System is responsible for lowering physical damage from collisions by 35 percent. In addition, Tran-Star has lowered its operating costs substantially, including fuel costs by 20 percent, transmission repairs by 50 percent and brake repairs by 25 percent. The company has also used DriveCam event recordings as evidence in accident disputes to prove its drivers were not at fault.

Riches & Roses of Charlotte, North Carolina is another fleet in the program. Specializing in chauffeured transportation, Riches & Roses installed DriveCam in 53 vehicles. Before the installation, the company had more than $60,000 in annual insurance claims. According to HRH, after using DriveCam for one year, its annual claims dropped to $400, a reduction of 99 percent. In addition, the company has used DriveCam recordings to expose fraudulent claims in which its drivers were victims of staged accidents.

According to the National Limousine Association, there are more than 27,000 registered limousine services in the United States. To contain costs, insurance carriers and fleet managers are actively looking for ways to improve fleet operations. Carriers encourage programs such as improved driver selection processes, certification, driver training, employee incentives and regular vehicle maintenance.

"In addition to promoting driving safety, DriveCam provides security and accountability for the driver," said Ed Andrew, president of DriveCam Video Systems. "Now that DriveCam has been in use for more than two years and is installed in thousands of vehicles, we are seeing the dramatic impact it is having on the bottom line for commercial vehicle operators."

The complete Driving Feedback System includes a manager's guide, driver guide, videotape and Event Manager software for logging and tracking vehicle events.

About DriveCam Video Systems

DriveCam Video Systems is a developer of vehicle safety products and services for commercial fleets. Based in San Diego, the company's DriveCam video event recorder is part of a complete Driving Feedback System used by vehicle fleets to promote safety and reduce accidents. DriveCam is installed in thousands of vehicles and is endorsed by Lancer Insurance. Additional information is available at www.drivecam.com.

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