Credit rating and analytics company FICO and digital driving solutions provider eDriving are due to introduce a smartphone app that will turn driving behaviour patterns into driving scores. The app, called DriveNow, is being developed by the two companies in partnership with car makers such as General Motors Co (GM.N) and Ford Motor Co. (F.N). The aim of the app is to help insurers set premiums and pricing plans based on driver behaviour.
Credit rating and analytics company FICO and digital driving solutions provider eDriving are due to introduce a smartphone app that will turn driving behaviour patterns into driving scores. The FICO Safe Driving Score will analyse driving data through a small device connected to vehicles’ diagnostics and create a score similar to FICO’s credit scores based on miles driven, rates of acceleration, braking speeds and more. The aim of the app is to help insurers set premiums and pricing plans based on driver behaviour.