Discoperi tackles 3 global challenges:
1. Every year 1.35 million people die in car accidents and 20-50 million people are injured or become disabled. There is no solution on the market to predict risky behaviour of other drivers and alert the driver in time to avoid the potential road collision. Road crashes cost countries 1-6% of GDP (e.g. workforce losses, medical costs, administrative expenditures, etc.).
2. Insurance companies, fleets, car sharing and rentals lack transparent and unbiased sources to evaluate and improve driving behaviour of their clients and drivers. Auto insurance industry players face losses due to severe competition and USD 29 billion of fraud related premium leakages per year. Fleets including taxis report that good drivers’ behaviour saves 12% on operating costs, whereas bad drivers cost an extra 13% on operating costs. In addition, 57% of fleet managers reported that fraudulent activity is a big issue for a company
3. The current way of handling automotive data infringes upon drivers’ privacy, fails to compensate drivers and does not serve the interest of society at large. Few people know about the SIM cards embedded in many new cars, constantly sending and receiving gigabytes of car data from hundreds of sensors, including engine parameters, geolocation and driving habits. The revenue pull from car-generated data will reach $450-750 bn by 2030. Currently, automakers own this data and sell aggregated data to 3rd parties beyond the driver’s notice. If the driver benefits – only indirectly, as in the case of the manufacturer occasionally issuing new maintenance recommendations. However, it is the driver who paid for the car, fills a tank, spends his or her time, generates data, but does not have a chance to control, use or sell this car data and so benefit from it.
With its mission to save lives by preventing road accidents and enable drivers to control and monetize automotive data, Discoperi invented System EYE – a small IoT device, from a first look, but a very sophisticated and highly advanced technological system in reality. System EYE aims to save at least 300 thousand lives per annum, connect different vehicles into a single flexible network and uncover on behalf of the drivers tremendous value of automotive data. In Discoperi vision, automotive ecosystem participants own, share and transact data in a fair and transparent way.
The objective of the SME Instrument Phase 1 project was to conduct a feasibility study for System EYE commercialization that would include: a thorough analysis of target markets, unique value proposition and market entry strategy validation, regulatory requirements analysis, IPR strategy development, business model validation and business plan elaboration.
The SME Instrument Phase 1 project allowed Discoperi to conduct a feasibility study, continue work on System EYE hardware and software, and prepare for commercialisation of the innovative solution.
