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Car sharing marketplace Zoomcar claims to have seen a 31 per cent drop in accident costs per km and overall reduction in accidents to about 23 per cent with the use of its ZMS Driver Behaviour Intelligence app.
Launched in 2013, Zoomcar allows individuals to rent from a diverse pool of cars by the hour or by the day. In 2020, Zoomcar launched Zoomcar Mobility Services, the company’s enterprise SaaS based mobility solutions offering white-labelled subscription services and IoT-based driver behavior monitoring solutions.
Driver scoring system
Greg Moran, CEO and Co-founder, Zoomcar, told BusinessLine that the ZMS Driver Behaviour Intelligence app was created to solve Zoomcar’s problem of high fleet service and maintenance costs.
Also see: Nissan ties up with Zoomcar, Orix for its vehicle subscription model
“We created the driving scoring system which measures driving behaviour which has a direct impact on vehicle health. Over a period of time, we have a significantly matured product with over 2 billion kms of driving data and 5 million customer base,” he said.
The company has over 7,000 cars running pan India, making servicing and maintenance of cars a major challenge for the company. For each car trip, the company now measures the driver score on a scale of 100. The scores help Zoomcar measure the health of the car and assess the impact of driving behaviour on accident proximity, fuel efficiency and service maintenance costs. Better scores mean smooth treatment of vehicles and vice versa.
Broader ecosystem
Zoomcar claims to be working closely with global and Indian insurance companies, online car aggregators and auto finance companies to white-label the proprietary ZMS Driver Behaviour Intelligence app for them to provide innovative products and engagement opportunities with their customers.
“Apart from our own business, we find a huge opportunity with a broader ecosystem of mobility service providers like insurance companies, fleet operators, used car businesses and car finance companies to not only promote safe driving to their customers but also drive meaningful engagement with the customers,” said Moran.
Last week, Zoomcar raised $92 mn from SternAegis Ventures and has plans to invest the new funds to strengthen enterprise software offerings, improve user experience, and grow its business in India and across Asia and MENA.
Also see: Zoomcar raises $92 million from SternAegis Ventures and others
The company has approximately 10,000 cars on its platform, employs over 300 people and operates in over 50 cities.
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