FleetRisk Advisors Launches TRAC, Announces Pilot Project

FleetRisk Advisors, Alpharetta, Ga., has announced the launch of TRAC, which stands for Transportation Risk Analytics Center.

TRAC is a risk modeling and analytics platform that enables FleetRisk's knowledge-driven Risk Management Services. FleetRisk says these technologies reduce accidents by identifying and helping fleets deal with risk factors.
TRAC is built on a powerful relational database of historical data about drivers, vehicles, routes, schedules, accidents and incidents. The system accepts data from a broad range of in-vehicle monitoring technologies. Sophisticated analytic software, including pattern recognition algorithms, search the data for what FleetRisk calls risk signatures.
Risk Signatures point to characteristics that may cause accidents, incidents or other forms of economic loss. Knowledge of these risk signatures can be used to modify behavior, reducing the frequency and severity of accidents and other loss-related costs.
According to FleetRisk, traditional loss control programs cannot take into account all of the specific conditions and factors faced by each driver and each vehicle every day. Today's telematics systems supply reams of data, but do not necessarily provide fleet operators with actionable knowledge. The TRAC Platform allows for continual and systematic re-examination of operational data.
TRAC can enable fleets to better 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 is the only platform service available today enabling operators to accurately consolidate, store and manage multiple types of performance data over multiple years.
At the same time, FleetRisk announced that Dupre' Transport LLC of Lafayette, La., has agreed to conduct a major pilot project using FleetRisk's Knowledge-driven Risk Management Service. The project will use the TRAC platform and include data modeling and predictive analytics. Dupre' Transport specializes in transportation of bulk liquid commodities, including hazardous materials.
In a recent interview, Sam Wilkes, FleetRisk CEO, said that carriers of high risk commodities had the most to gain from FleetRisk’s new technology. Self-insured carriers would experience a rapid return on investment, he said.
"Our research also indicates that the behavior modifications which prevent losses are very often the same behavior modifications which improve personnel productivity and operating asset utilization," said Sam Wilkes, CEO of FleetRisk Advisors.
For more information on FleetRisk Advisors, visit www.fleetriskadvisors.com.