ims rental vehicle intelligence rev. 1 april 18, 2012
DESCRIPTION
This presentation outlines the services that Intelligent Mechatronic Systems (IMS) offers to Rental Vehicle companies.TRANSCRIPT
IMS Rental Vehicle Intelligence Improving the Profits of Rental Vehicle Providers April 2012
Purpose
• To demonstrate how IMS Rental Vehicle Intelligence can improve the profitability of your vehicle rentals
– Summary of benefits
– Business building opportunities
– Reasons to partner
with IMS
Summary of Benefits
Benefits for Rental Vehicle Companies
1. Portfolio of safer, smarter, greener, & more loyal, drivers
2. Increased revenue streams
3. Enhanced customer experience
4. Higher resale value of vehicles
5. Reduced damage done to cars
6. Better preventative maintenance
7. Contract violation enforcement
Benefits to Vehicle Renters 1. Faster “in-out” service 2. Enhanced emergency
response service 3. Rewards and recognition
for good driving behavior - Vehicle upgrades - Lower prices - Ranking & recognition
for good driving behavior - Membership priviledges
IMS Solutions for Improving Profit
• IMS has a range of solutions to empower the car-rental partner to: 1. Enhance current services in terms of profitability and customer experience 2. Introduce new business opportunities 3. Improve asset maintenance and valuation 4. Promote and influence positive customer behavior 5. Provide efficient road assistance services
IMS M2M = Better drivers = Better profitability
Business Building Opportunities
- Not all drivers are alike -Discounts for good driving behavior - IMS helps identify great drivers
Opportunity #1: “Pay-as-you-go” as an alternate Business Model
PAYG and Vehicle Rental
• PAYG is an auto insurance term also known a “Mile-based” auto insurance or “Usage based insurance”
• Auto rental companies can adapt PAYG to measured time, distance, and place.
• Possible via IMS M2M technology
PAYG Game-Changer in Vehicle Rental
Market conventions -All customers are treated
the same -No differentiation for
usage/driving skill
Disruption -PAYG
-Use IMS M2M technology -“Adverse selection”
- Benefits to low risk driver
Vision -Better book of drivers
- Better risk-return ratios
#2: Improve driving behavior through existing or new Rewards & Recognition
programs
Reward & Recognition
• Rewards and/or recognition program can improve driving behavior
• Behavior impacts profitability
• Promote this program externally as a reason why there is better resale value for your vehicles
Upgrades or cost
reduction
Points
Member Card
Status
#3: Car sharing program as an alternative business segment
• New business segment
• Offer competitive entry in Car Sharing business in key urban markets
• Offer hourly rates
• 24x7 access to vehicles
• Book online and drive
#4. Young Drivers as a new segment
• Young drivers present higher risks to rental vehicles
• IMS M2M telematics can draw from our Young Drivers Intelligence to reduce risk and potentially expand this market
#5: Premium Roadside Assistance (RSA)
• Roadside assistance is
important because drivers who rent vehicles are not always familiar with their surroundings – Automatic vehicle location – Roadside assistance exchange – Vehicle diagnostics
• Offer Premium RSA to generate added revenue & enhanced customer loyalty
#6: Remote & Automatic Vehicle diagnostics
• IMS Rental Vehicle Intelligence tracks key diagnostics & issues reports – Event-Triggered vehicle health
reports
– Periodical vehicle health reports
– On-demand vehicle reports
– End-of-use vehicle health reports
• Powerful feature: asset value maximization, responsive customer care, cost effective vehicle services
#7: Automatic vehicle location (AVL)
• AVL can automatically
determine the geographic location of the vehicle coupled with the ability to transmit that info to a requester.
• AVL is useful for renters who are not familiar with the vehicle and often its surroundings
• AVL is a potential revenue generator
#8: Remote Real-time Fuel Detection can generate more revenue
• The rental car company can remotely access fuel levels with precision to charge extra for the difference between
• Perceived fuel level
• Actual fuel level
#9: Improve Asset Value via evidence based usage reports
• Track driving metrics over the lifetime of the vehicle – Automatic tracking and
documentation of vehicle usage and maintenance
– Information can augment “Blue Book” data
#10: Certified “Pre-owned” program
• Ensure that only “Certified” drivers in the program use specific vehicles
– Develop non-actuarial scoring system for vehicles based on usage
– Third party endorsement by Big Four accounting firm
– Consider licensing this scoring system to “Blue Book”
#11: Employ Interactive Alerts to encourage better driving
• Awareness of Telematics helps encourage good driving
• Generate alerts of vehicle abuse to call center
• Customer care sends driver a “Better-Driver” warning or reminder
• Introduce Extra charges could be levied for abuse
#11: Enforce contract violations
• IMS can capture events beyond those covered in the contract
• Location based Example: Driving beyond the geo-fence
• Additional charges can be levied for contract violations e.g., extra insurance for driving to Canada or Mexico
#13: Severe Event detection & reporting to roadside assistance
• Transmission of data trail data in response to severe vehicle motion events so that the appropriate roadside support can be deployed.
• Pre and post event data are recorded and transmitted
Reasons to Partner with IMS
Key elements • All IMS Rental Vehicle Solutions have 4 key
components
Component Possible solution
Device IMS DriveSync with GPS, Accelermoter Large memory, GSM Interface
Communication link Short range e.g., WiFi, RFID, Bluetooth
Software Application for Tablet and/or Mobile
Back-end support/deployment Unique device shipped to Car Rental company for self install. System integration and Portal for Company and Alerts for Customer
IMS at a Glance • Founded in 1999.
• HQ in Canada. Sales offices in US.
• Strong links with University of Waterloo
• More than 100 patents & patents pending
• ISO 9001/14000 certified
IMS Inc. Confidential & Proprietary Waterloo HQ
IMS expertise
• IMS has deployed fully integrated programs in the Automotive Aftermarket for – UBI Programs – 8 of the
top 25 US auto insurance companies . (We are permitted to talk only about Travelers.)
– Young Driver Programs – 1 leading US financial institution
Usage-based insurance solution
• UBI
– Auto Insurance companies have demographics
– IMS UBI Intelligence provides behavior data
– More complete driver picture with
• Speeding
• Rapid acceleration
• Harsh braking
• Idling time
• Greenhouse gas emissions
Recognition for IMS
• IMS has received many awards for our technology solutions
– Machine to machine (M2M) technology
– Human machine interface (HMI) technology
– Usage based insurance (UBI) telematics
IMS Inc. Proprietary and Confidential 29
Young Drivers Intelligence Solution
• YDI
– Coaching tool for Parents and Young Drivers
– Measures key variables
• Length of trip
• Speeding
• Rapid acceleration
• Harsh braking
• Time of day
• Geofence violation
– Ranks Young Driver on 5 Star scale across variables
Summary – key benefits
1. Portfolio of safer, smarter, greener & more loyal drivers
2. Increased revenue streams
3. Enhanced customer experience
4. Higher resale value of vehicles
5. Reduced damage done to cars
6. Better preventative maintenance
7. Contract violation enforcement
IMS Opportunities to improve profit
• Better drivers will improve profit
• Test “Pay as you go” as a business model extension to increase profit
• Improve driver behavior through Rewards and Recognition
• Support Car Sharing as a new business segment
• Premium Services will generate additional revenue
– Roadside assistance
– Remove vehicle diagnostics
– Automatic vehicle locator
• Fuel level intelligence can generate added revenue
IMS Opportunities cont’d.
• Increase resale value of Rental vehicles through evidential usage reports
• Employ interactive alerts to encourage better driving
• Contract violation support
• Severe event detection & reporting to roadside assistance
• Preventative maintenance improvement
Contract
• For more information on IMS|Rental Vehicle Intelligence please contact Blair Currie, VP Marketing at [email protected] or call at 519.745.8887