SAN DIEGO – May 24, 2007 – DriveCam Inc., a global Driver Risk Management company, announced today it has been named Frost & Sullivan’s 2007 North American Class 6-8 Truck Driving Behavior Monitoring and Safety Enhancement Systems Product Innovation Leadership of the Year Award recipient. DriveCam was recognized at Frost & Sullivan’s 2007 Best Practices Awards Banquet in San Antonio yesterday.
Frost & Sullivan’s Award for Product Innovation Leadership of the Year is presented annually to the company that has demonstrated excellence in new products and technology within their industry. Frost & Sullivan recognized DriveCam for advancing the market for heavy truck safety enhancement systems with its innovative behavior-based risk mitigation solution. DriveCam’s solution combines predictive software and analytics capabilities, tens of thousands of actual events demonstrating risky driving behaviors and deep transportation and behavior-based safety experience.
Federal Motor Carrier Safety Administration research indicates that the average cost of an accident caused by a large truck involving fatalities is approximately $3.4 million while that of an accident involving injuries is $217,000.
“DriveCam Inc. recognized fleets’ need for a solution that would help them identify and correct risky driving behaviors that could result in accidents,” said Sandeep Kar, senior industry analyst, Frost & Sullivan. “DriveCam has propelled heavy truck safety enhancement technologies to a new level with an effective risk management solution that enables commercial and government fleets across industries to proactively address risky driving behavior, increase the safety of their mobile workforces and reduce operating costs.”
DriveCam’s exception-based video event recorder is mounted on the windshield behind the rearview mirror and captures sights and sounds inside and outside the vehicle. Exceptional forces such as hard braking, swerving and collision cause the recorder to save the critical seconds immediately before and after the triggered event. Saved events are analyzed and used in ongoing driver coaching programs to improve behavior and mitigate driver risk.
“We are honored to receive Frost & Sullivan’s Product Innovation Leadership of the Year Award,” said Bruce Moeller, president and CEO of DriveCam Inc. “DriveCam is committed to helping fleets reduce preventable vehicle accidents and related operating costs and we are continuously striving to improve the value proposition of our solution offering.”
DriveCam recently became the first Driver Risk Management company to offer cellular upload to fleets, simplifying deployment and support, eliminating investment in Wi-Fi infrastructure and bringing Driver Risk Management to fleets, including long-haul trucking, sales and service fleets, that typically employ drivers who do not regularly return to a home base.
About Frost & Sullivan
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company’s industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics and demographics. For more information, visit www.awards.frost.com or www.automotive.frost.com.
About DriveCam Inc.
DriveCam is a global Driver Risk Management company that reduces claims costs and saves lives by improving the way people drive. By combining sight and sound, expert analysis and driver coaching, DriveCam has reduced vehicle damages, workers’ compensation and personal injury costs by 30 to 90 percent in more than 62,000 commercial and government vehicles. DriveCam has the world’s largest repository of events reflecting actual risky driving behaviors. In 2006, Inc. Magazine included DriveCam on its list of the 500 fastest-growing, privately held companies in the U.S. for the second consecutive year. DriveCam received the 2007 North American Class 6-8 Truck Driving Behavior Monitoring & Safety Enhancement Systems Product Innovation Leadership of the Year Award from Frost & Sullivan in 2007. For more information, visit www.drivecam.com.