You really need to have nerves of steel when you give the car keys to your teen child for the first time. At that very moment, a parent can have a traumatic episode where they remember their child’s entire life while simultaneously reliving every near-miss collision and accident they’ve ever witnessed or been involved in.
The good news is, technology allows new and innovative solutions to this problem most every parent may have to face at one time or another. Specifically, BuckleMate was founded by Jeffrey Miller who serves as CEO, to deal with this issue. The following interview goes into detail regarding how his company can help make teen driving a safer endeavor and perhaps it can become simultaneously less traumatic.
Tell me about BuckleMate – how did the idea come to you?
I came across a product about 5 years ago that would force drivers to Buckle their seat belts. Unfortunately, the product didn’t go over well because it needed to be hard wired into a vehicle which was time consuming and expensive. During that process I came across a telematics device that could monitor a driver’s behavior but it was geared toward commercial fleets and it was too expensive for parents. I was determined to create a program that could benefit consumers – specifically new drivers aged 16-19, the highest risk group. After a long search for a telematics partner we found a great one and BuckleMate was created.
What is different about BuckleMate than other platforms and solutions?
BuckleMate is unique in that the monitoring of driving behaviors is accessible only to the parents of new drivers. The data and information is not shared with anyone like in the case of insurance companies who monitor drivers for their own analytics. BuckleMate provides parental oversight which science has shown makes people behave differently when they know others are watching. We have seen similar results with current BuckleMate customers.
Does it solve a unique problem?
Despite significant advances in vehicle safety technology too many people in the US are still injured (2.3 million in 2013) and/or killed (32,719 in 2013) on our roadways every day. BuckleMate combines the latest in-vehicle technology with education and parental oversight in order to develop safe driving habits that will reduce accidents and help save lives.
How do you think it may evolve?
The telematics space is very exciting right now. While many companies are focused on the social aspects of telematics such as connecting with friends and family our continued mission is on driver education and safety. Our goal is aligned with other safe driving organizations – to dramatically lower the injury and death rates caused by motor vehicles, starting with new drivers.
What monetization vehicles do you envision going forward?
The nice thing about our model is that every year a new group of drivers enters the mix with parents who are just as worried about their kids as our current customers are today. For a reasonable monthly recurring fee, parents can buy some peace of mind. As we continue to add new customers, we believe that we can partner with insurance providers to offer our customers discounts that will keep them as active subscribers for a longer period of time.
What else should potential users and investors know?
Ask any parent of a new driver what keeps them up at night and you’re sure to get a similar answer – where is my new driver and how are they driving. BuckleMate answers these questions and more. With 3,000,000 new drivers coming on board in the US every year this is a business that is just beginning to take off.
