FleetRisk Advisors of Alpharetta, Ga. has launched its Transportation Risk Analytics Center and Dupre’ Tansport LLC of Lafayette, La. will conduct a major pilot project using Fleet Risk’s TRAC service including data modeling and predictive analytics.
TRAC is a sophisticated risk modeling and analytics platform that facilitates FleetRisk’s knowledge-driven risk management services. The program is based on a powerful relational database, which combines historical data about drivers, vehicles, routes, schedules, accidents and incidents with daily operational data from a broad range of in-vehicle monitoring technologies. A sophisticated suite of analytics, including pattern recognition algorithms, turn this combination of data into risk signatures which give owners/operators the ability to operate safer and more profitable fleets.
Dupre’ Transport specializes in the transportation of bulk liquid commodities. It has been at the forefront of developing and implementing sophisticated analytical programs and deploying advanced in-vehicle technology to increase fleet safety. Dupre’s interest in FleetRisk Advisors stems from a desire to extend the benefits derived from existing fatigue management, personnel profiling and telematics systems by gaining insight into the correlations and relevancy factors of these various data sources.
FleetRisk Advisors will work with Dupre’ to gather extensive amounts of historical and operational data into the TRAC database and analyze that data to reveal Dupre’s unique risk signatures. By determining risk factors that are predictive of accidents or other loss causes, Dupre’ will be able to enhance their existing safety programs and take steps to operate even more safely and profitably.
TRAC’s predictive analytics permits fleet owners to compare asset profiles, personnel histories, geographic data or market-specific benchmark information to identify future high-risk situations and take appropriate action. The TRAC repository enables operators to accurately consolidate, store and manage multiple types of performance data over multiple years.
“Most fleet operators realize that there is a strong correlation between safety and profitability,” Sam Wilkes, FleetRisk Advisors CEO explained. “Fleet operations are complex and competitive, and it is more and more difficult to maintain the attention to detail necessary to combat accident frequency and severity. Traditional loss control programs begin to lose their effectiveness. It takes a tremendous amount of detailed data to predict conditions and circumstances under which a loss might occur, and it is this same level of detail that gives operators the knowledge to prevent those losses.
“Our research indicates that the behavior modifications which prevent losses are very often the same behavior modifications which improve personnel productivity and operating asset utilization,” Wilkes said.
TRAC is an integral component of FleetRisk Advisor’s suite of knowledge-driven risk management services. The program studies the unique risk signatures associated with each client’s company and industry. After completing an initial assessment, FleetRisk Advisors works with operators to determine the optimal in-vehicle monitoring solutions for their needs.
With TRAC Dupre’ will continually and systematically re-examine operational details and outcomes to reveal patterns and correlations that are predictive of losses or increased cost. It will collect and organize Dupre’s data about drivers, vehicles, routes, territories, and incidents/accidents.
“FleetRisk Advisors is enabling us to take an improved, knowledge-driven approach to risk management,” Al LaCombe, director of Safety/Training at Dupre’ Transport said. “We have always been committed to improving safety. Predictive analytics and data modeling is the logical next step in the evolution of our risk management strategy.”
“Dupre’ used in-vehicle technologies and driver monitoring systems to improve safety,” Wilkes said. “By integrating all of their existing fleet operational data into TRAC, Dupre’ will be able to derive new correlations, behavior patterns and risk signatures that would otherwise go unnoticed.”
Topics Risk Management
Was this article valuable?
Here are more articles you may enjoy.
FBI Says Chinese Hackers Preparing to Attack US Infrastructure 
GM Ends OnStar Driver Safety Program After Privacy Complaints 
Progressive Gains as Drivers Shop Around for Auto Insurance—Again 
UnitedHealth Says Hackers Possibly Stole Large Number of Americans’ Data 
