Can new warning system reduce insurance costs?

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Calgary, Alta — Mobileye is working on a new automotive advanced warning system that may help bail out insurance companies in the heavy duty trucking industry.

Eluminor has announced that it is incorporating Mobileye Vision Technologies’ advanced driver assistance systems to complement its Vehicle and Driving Monitoring System (DVMS. Mobileye and Eluminor have cooperated since May 2003 to adapt the technology to meet trucking industry specifications.

Many insurance companies are dropping coverage for the heavy-duty truck market because of high risk and huge settlements. With so many insurers exiting this category, even fleets with the best driving records are now exposed. Tom deWaal, President and Developer of Eluminor and former trucking fleet owner explained, “Costs for heavy truck accidents are approximately $34 billion annually. When a truck leaves the terminal, there’s $200,000 worth of equipment going out the door.”

The Eluminor Vehicle and Driving Monitoring System monitors and records a trucker’s driving patterns in real time video onto an online risk indexing system that provides feedback for improving driver performance.

In the event of an accident, deWaal’s “insider technology” can identify the aberrant patterns responsible for the crash, including the critical 20 minutes preceding an accident.

The information is stored in a crash survivable module built to Federal Aviation Administration specifications. “

If your driving was being recorded today, would it change the way you drive into work? Absolutely, yes,” said deWaal.

Mobileye’s SeeQ monocular vision component helps prevent accidents from occurring by warning drivers if they’re following too closely or making unsafe lane departures as well as providing a warning for emergency braking situations.

SeeQ is an adaptation of Mobileye’s robust EyeQ system-on-a-chip, which covers nine applications in three broad categories of forward-looking, rear-looking, and in-cabin applications. The vision system employs a single camera and advanced pattern recognition software, which work together just like the human eye does.

“Driver inattention is the primary cause of 90 percent of crashes,” said Professor Amnon Shashua, Mobileye’s Chairman and Chief Scientist. “Research has shown that advanced warning systems responding even one-half second before a collision can prevent or reduce the severity of crashes.”

Mobileye’s EyeQ chip possesses the equivalent computing power of two powerful Pentium computers, but at a fraction of the cost.

Production on this system will begin in the first quarter of 2005.

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