September 6, 2016 – Chicago – CarVi, a car technology startup from Silicon Valley, will present its new Advanced Driver Assistance Systems (ADAS) at the Sixth Annual Connected Car Insurance USA Conference and Exhibition in Chicago on September 7, 2016.The company believes that the product would add value to the current insurance companies’ offerings by attracting new clients and decreasing the number of claims.
The connected vehicle ecosystem continues to evolve, generating enormous amounts of data. Car industry players have to learn how to unlock its full potential to benefit all stakeholders. The conference in Chicago will bring together traditional car makers, insurance companies, young technology startups, and the industry analysts to discuss fast changing landscape and future developments.
CarVi is participating in the event as a sponsor, speaker, and exhibitor. The technology firm offers an affordable mobile driving assistant system which can be easily installed in any car, old or new. It includes a small dashboard camera connected to a driver’s smartphone through a mobile app. CarVi’s software analyzes the camera’s video stream in real time and alerts the driver about potentially dangerous situations. The system adds superior safety features to any car and encourages lower-risk driving behaviors.
The company has developed its own Advanced Driver Assistance Systems (ADAS) which can be used by insurance companies to provide additional insight into drivers’ behavior for predictive modeling and more accurate risk assessment. CarVi not only collects time and speed information, but also records and scores driver’s performance in real time using visual recognition technology; plus, it suggests necessary actions to improve their driving skills through an intuitive coaching system.
“Driver’s behavior is a better indicator of potential future claims than past records or demographic characteristics. By using CarVi’s ADAS, insurance companies will be able to save money through more precise premium estimates, to attract new clients who can benefit from Usage Based Insurance (UBI), and to offer value-added services to their existing customers,” said Kevin Lee, Co-founder, and CEO of CarVi.
Cars are becoming “computers on wheels”, and auto insurance companies have to be on top of the technological innovations to stay competitive. Right now, eight out of the top ten industry players in the US offer telematics programs to their customers. But to stand out from the crowd, they must go beyond simple reward systems. UBI combined with CaVi’s ADAS data and safety features will allow insurance firms to design customer-centric solutions, attract lower risk policyholders and save money through a decreased number of accidents.
CarVi is looking forward to introducing its digital driver assistant, learn from the industry experts, and make valuable connections at the Chicago conference.
CarVi, a Silicon Valley-based technology company, has created an affordable Advanced Driver Assistance System (ADAS). Using only a small camera and smartphone to combine real-time vehicle metrics with video-based image recognition technology, CarVi gives unprecedented levels of information on driver behavior for superior post-journey data analysis. Risk rates further reduced as the system proactively coaches drivers in real-time to make them aware of poor and dangerous driving habits so they can become safer drivers, likely reducing the number of occurrences and lowering the insurers’ combined ratio. Samsung Ventures is one of the investors of CarVi.
The company’s website: www.getcarvi.com
Contact CarVi by phone AmyChing 985-381-7908
The company’s address: 582 Market Street, Suite 200, San Francisco, CA 94104