As far as we know at Insurance Edge, this is the very first AI-powered Dashcam/Rider Assist system for two wheelers, that can be retro fitted to many modern machines. Although many bikers use helmet mounted dashcams, this looks like a much more advanced system, and may well suit long distance touring riders, regular commuters and the fleet market such as Police and emergency breakdown services.
Two-wheelers are the most vulnerable vehicles on the road. In fact, motorcyclists are 28 times more likely to die in an accident than a car occupant. Sara Assicurazioni and Ride Vision are partnering together to reduce these accidents and improve Italy’s overall road safety. Motorcyclists insured by Sara Assicurazioni could be eligible for significant discount on their yearly premium when they retrofit their vehicles with Ride Vision’s system. This offer will take effect next year when Ride Vision’s system officially hits the Italian market.
Such incentives have become key to reducing overall collisions on the road. Road accidents are not only costly in human lives but financially costly to governments and insurers as well. Keen to save lives and mitigate these costs, insurers are increasingly turning to the hi-tech industry for solutions.
“Road safety has always been our main focus, and we’re now glad to start addressing the area of motorbikes where chances for an accident are higher,” says Alberto Tosti, General Manager of Sara Assicurazioni. “This is why we’re developing a promotional offer for Ride Vision retrofitted bikes.”
While insurer incentives do already exist in the automotive market, they have mostly focused on providing solutions for cars. The high occurrence of motorbikes accidents has left this segment of the vehicular insurance industry markedly ripe for similar collaboration.
A survey by ACI-Istat revealed that 41,414 motorcycle accidents in Italy resulted in 755 fatalities and 49,447 injuries in 2018 alone. “Our collaboration addresses an untreated segment of two-wheeler commuters and fleet operators to promote road safety. We’re confident that Ride Vision and Sara’s agreement will bring innovation to an often-overlooked community and is a crucial step forward to reduce accidents,” says Uri Lavi, CEO & Co-founder at Ride Vision.
The Ride Vision-Sara collaboration is unique precisely because it is the first of its kind to exclusively target this critical segment. In fact, Ride Vision is the first vehicular predictive system singularly tailored to motorcycles to enter the market. Filling this prime space for safety improvement is paramount as increasing congestion in cities drives up motorcycle purchases. This trend has most notably taken hold of Italy, which, according to FEMA’s most recently available Motorcycle Safety and Accident report, contains over 6,500,000 motorcycles, the largest amount of any EU country.
How Ride Vision Works
Ride Vision developed an Advanced Rider Assistance System with CAT™ – Collision Aversion Technology. CAT™ is a fusion of Artificial Intelligence (Neural Networks) and Computer Vision designed to seamlessly integrate with the motorbikes, utilizing standard cameras as visual sensors.
CAT™ recognizes and analyzes relevant threats without disturbing the rider’s critical focus. Ride Vision’s Advanced Rider Assistance System also operates as a dashcam, allowing bikers and 2-wheeler fleet operators to maintain evidence recording in case of an accident. Ride Vision’s CAT™ will be available in Italy from the beginning of next year by Ride Vision’s official distributor Autobynet SpA.