Since 1998, insurance and private companies have done studies on the effectiveness of the DriverCheck program. The studies were compiled by different companies, and there was no uniformity of design; however each had as its goal to measure the effectiveness of the DriverCheck program as it related to collision frequency and costs.
This study showed a collision-frequency reduction of 22% and a collision-cost reduction of 28%. The study was done by the actuarial department. Using this data, the loss control division estimated that it received a 20 to 1 return on investment from DriverCheck. For every dollar spent, $20 was saved.
Insurance Company A.
This insurance company studied its clients using DriverCheck for one year and estimated a 27% reduction in collision frequency. Company executives did not provide a percentage for collision-cost reduction, but did tell us that they estimated that they had saved $5 million on their total book of business by including DriverCheck as a value-added service to their insureds.
Insurance Company B.
The business unit of this insurance company did a study over several years. It concluded that the fleets on the DriverCheck program reduced their collision frequency by 31% percent, with a cost reduction in excess of 31%. This is a Canadian insurance company that has put its clients on the DriverCheck program since 1996.
Insurance Company C.
A very large client – with tens of thousands of vehicles on the program – did a study on its reductions during the first year with DriverCheck. Company executives did not give us percentages related to collision and cost reductions; however, they estimated that DriverCheck saved them more than $1 million in collision-related expenses.
Private Company A.
Another large client recently released a study done over 22 months. During that period, the company saw its collision frequency reduced by 36%, saving more than $600,000, and estimated its return on investment to be 24 to 1. For every dollar the company spent on DriverCheck, it saved $24.