News Releases 2016
December 8, 2016
ORIX Auto to Begin Offering the “Ever Drive” Monitoring Service Designed to Reduce the Risk of Accidents Among Elderly Drivers
TOKYO, Japan - December 8, 2016 - ORIX Auto Corporation ("ORIX Auto"), a subsidiary of ORIX Corporation ("ORIX"), announced today that on February 1, 2017, it will begin offering the offspring generation of elderly parents who drive the "Ever Drive" monitoring service, which uses telematics technology to reduce the risk of automobile accidents.
As the number of elderly who hold driver's licenses and the number of automobile accidents associated with the elderly increase year to year, many families have become concerned that their own parents may become involved in an accident, as either a victim or as the driver at fault. While there are efforts underway to encourage elderly drivers to turn in their licenses, a driver's license is not something that can easily be given up. ORIX Auto will begin offering the "Ever Drive" service as a way of addressing the concerns of both elderly drivers themselves and their children.
The service uses a special vehicle-mounted device, installed in the vehicle of the driver the family wishes to monitor, which provides the family with real-time information on driving behavior, including excessive speed and sudden acceleration and deceleration. The service not only keeps family members informed of the driver's day-to-day status while on the road, but immediately notifies them via email in the event of any of three hazardous driving behaviors1 or unusually long periods at the wheel, which in turn encourages the drivers themselves to pay closer attention to safe driving. In addition, data on driving history collected by the system can be used to compare driving behavior and changes in vehicle operating time by day and by month, making it easier to notice changes in behavior due to dementia or other issues. The service also provides a function for mapping locations where hazardous behavior has occurred on the map used to display driving history, increasing awareness of danger zones within the area the driver normally travels on a daily basis. Use of this feature is envisioned as a way of creating opportunities for elderly drivers and their families to consider appropriate driving behavior together.
Other ancillary driver support services include a simple test to check cognitive function, taken when entering the service contract; health consultation available by phone 24 hours a day; and on-site support in the event of an emergency while on the road.
ORIX Auto began offering its telematics service "e-Telematics" for corporate customers in 2006, and today it is in use by 2,000 companies nationwide, with 137,000 vehicles under contract2. Companies introducing the service have seen hazardous driving behaviors, the cause of many accidents, fall by an average of 65% in the first year, compared to before deployment, and an average of about 80% over two years, a testament to the service's outstanding effectiveness3. Utilizing its extensive experience and expertise in continuing to ensure the safety of corporate vehicles, ORIX Auto now makes its full-fledged entry into telematics services for individuals.
ORIX Auto will be working with NPOs that support safe driving by the elderly to improve the reliability of early detection of declines in cognitive function, and to build a system of support services for elderly drivers. In the future, ORIX Auto will also introduce AI-based data analytics, including driving behavior big data collected through its corporate services, and engage in joint research projects with universities, as it works to advance the development of technology for determining driver risk by age group and area.
The number of seniors (those 65 years of age and older) holding driver's licenses has steadily risen, reaching about 16 million people4 in 2015. Broken down by licensed driver age group, the number of fatal accidents per 100,000 drivers reached 10.5 for those 75 years of age or older5, the highest rate among all age groups. At the same time, according to an awareness survey of the offspring generation-those in their 30s to 50s-76.3% responded that a car was a "necessity" in the daily lives of their parents6.
Through its lease, car rental and car sharing businesses, ORIX Auto has worked to enhance its highly value-added services from the perspective of compliance, the environment and safety. It will continue offering optimal solutions, both for its customers and for local communities as a whole.
1 Hazardous driving behaviors: Excessive speed; sudden acceleration; sudden deceleration
2 As of the end of September, 2016
3 Number of sudden accelerations among 44,500 vehicles from approximately 70 companies with at least 100 vehicles under contract that have used "e-Telematics" for at least one year
4 From "Driver's License Statistics (2015 edition)," the National Police Agency
5 From "Partial Revision to the Road Traffic Act," the National Police Agency Traffic Bureau
6 From an independent survey by ORIX Auto
Corporate Planning Department
ORIX Corporation (TSE: 8591; NYSE: IX) is an opportunistic, diversified, innovation-driven global powerhouse with a proven track record of profitability. Established in 1964, ORIX at present operates a diverse portfolio of businesses in the operations, financial services, and investment spaces. ORIX's highly complementary business activities span industries including: energy, private equity, infrastructure, automotive, ship and aircraft, real estate and retail financial services. ORIX has also spread its business globally by establishing locations in a total of 37 countries and regions across the world. Through its business activities, ORIX has long been committed to corporate citizenship and environmental sustainability. For more details, please visit our website: http://www.orix.co.jp/grp/en/
Caution Concerning Forward Looking Statements:
These documents may contain forward-looking statements about expected future events and financial results that involve risks and uncertainties. Such statements are based on our current expectations and are subject to uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Factors that could cause such a difference include, but are not limited to, those described under "Risk Factors" in the Company's annual report on Form 20-F filed with the United States Securities and Exchange Commission and under "4. Risk Factors" of the "Summary of Consolidated Financial Results" of the "Consolidated Financial Results April 1, 2015 - March 31, 2016."
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