Sparks, MD – September 14, 2006 – PHH Arval, a subsidiary of PHH Corporation [NYSE: PHH], has announced a partnership with Interactive Driving Systems (IDS), a leading provider of global risk management solutions.
Under the agreement, the two companies are working together to develop a new full-service offering designed to proactively reduce the number of fleet collisions.
One of the leading global risk management providers, with an extensive European footprint, IDS’ programs currently serve over 600,000 drivers at companies of all sizes in 35 countries. IDS reports that its clients today see an average collision reduction rate of 20-50%.
By partnering together, PHH Arval and IDS plan to integrate IDS’ technology and risk management expertise with PHH’s technology, historical fleet data, accident management, and fleet consulting expertise. The result will be a proactive approach to collision prevention.
“Today, the fleet industry is focused on reacting to the accident that has already happened and managing the resulting costs down as much as possible,” said Paige O’Neill, senior vice president of marketing and product development at PHH Arval. “PHH Arval wants to move the focus to proactively preventing the accident from occurring at all, and our partnership with IDS helps move us towards that vision.”
Ed Dubens, president and chief executive officer, Interactive Driving Systems, says, “For many years our most forward-thinking clients across the world have realized that only a holistic approach to their fleet risk management strategy can produce a sustainable long-term solution that minimizes both accident frequency and cost. We are delighted to be teaming up with PHH Arval in North America to work with its clients to develop management-led ‘crash free culture’ programs that will minimize costs, maximize profitability, and, most importantly, save lives.”
As part of this partnership, the companies will be working together on development, sales, and marketing of the new offering, which is based on patented technology.
About Interactive Driving Systems®
Interactive Driving Systems is an award winning 'research-led' provider of global fleet risk management solutions working from offices in Europe and North America. Since 1995 in Europe and 2000 in North America, Interactive Driving Systems® has been helping clients identify their most 'at-risk' drivers and prevent crashes and collisions from happening in the first place. IDS develops custom-built solutions for the corporate users of cars, trucks, coaches and buses, fork lifts, and specialist vehicles across the world. For more information, visit www.virtualriskmanager.net or call 800-207-7730.
About PHH Arval
PHH Arval is the second-largest fleet management services provider1 in the United States and Canada. PHH Arval provides outsourced fleet management solutions to corporate clients, including nearly one-third of the Fortune 500 companies, and government agencies. Through consultative expertise, flexible customer service, and award-winning Internet technology, PHH Arval helps clients reduce costs and increase productivity. For more information, visit www.phharval.com, or call 800 ONLY PHH.
About PHH Corporation
Headquartered in Mount Laurel, New Jersey, PHH Corporation is a leading outsource provider of mortgage and vehicle fleet management services. Its subsidiary PHH Mortgage is one of the top ten retail originators of residential mortgages in the United States2, and its subsidiary PHH Arval is the second-largest fleet management services provider in the United States and Canada1. For additional information on the company and its subsidiaries, please visit www.phh.com.