By Mike Sheldrick, Senior Editor
There are few fleet managers who would argue that Advanced Driver Assistance systems are valuable features to incorporate in their acquisition plans. Perhaps most importantly, these systems can save lives. But still, a firm case for a better bottom line has been difficult to make, principally because higher repair costs for ADAS systems offsets many of their advantages in mitigating or avoiding collisions.
Now, LexisNexis Risk Solutions has released an update of an earlier study of ADAS that makes it clear that ADAS can reduce costs. It analyzed information from eleven million vehicles, from model years ranging from 2014 to 2019. It compared industry-wide loss data to the claim frequency and severity for vehicles equipped with each of 648 possible combinations of the eleven “core” ADAS features.
These are: Adaptive Headlights; Blind Spot Warning; Blind Spot Mitigation; Driver Monitoring; Forward Collision Warning; Forward Collision Mitigation; Lane Departure Warning; Lane Departure Mitigation; Rear Collision Warning ; Rear Collision Mitigation
LexisNexis found that in general, ADAS systems led to minor reductions in claim severity, but greatly reduced claim frequency. Vehicles with any ADAS feature had a 23% reduction in bodily injury loss cost, a 14% reduction in property damage loss cost and an 8% reduction in collision claims cost, when compared to vehicles with no ADAS features.
Even more eye-popping, LexisNexis’ analyses show a 23% reduction in Bodily Injury loss cost, 14% reduction in Property Damage loss cost, and 8% reduction in Collision claim loss cost in ADAS vehicles compared to non-ADAS vehicles that have full statistical claims credibility. These loss cost reductions are based on having any core ADAS feature. Loss cost will vary depending on the combination of core ADAS features and how each specific combination of features performs.
LexisNexis Risk Solutions can provide specifics showing the Bodily Injury, Property Damage and Collision claim impacts on frequency, severity, and loss cost for each of the 648 possible combinations of core ADAS features. Many observers believe that Automatic Emergency Braking is the most effective ADAS function in saving lives and reducing claims and their severity.
One concern not addressed in the report is the reduction of a fleet’s potential direct liability by failing to incorporate features that could have prevented or mitigated a serious incident.
