Date post: | 17-Jan-2017 |
Category: |
Technology |
Upload: | seondesign |
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Calculating the ROI of Transit Security
#1 Question Asked
“Do you have any stats on the ROI of transit cameras?”
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3 Key Variables Impact ROI
Frequency of incidents
Investigative Costs
Labour rates
Calculating Your ROI
Step 1: Quantify Real & Perceived Risks
Injury Claims
Crime
Accident At-Fault
Vandalism
Worker’s Comp Claims
Doug Mosher Manager, Transit
Security
False Injury Claims
“We have incidents on board where claims are made that are not legitimate — you know right away with cameras if they are or not. “
Halifax Transit
Incident Investigation/Crime Reduction
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“With our video system we have a useful tool to resolve arguable points in incidents, improve accident investigations, and have significantly reduced the number of assaults and crimes on board.“
Regina TransitArnold Buehler
Manager, Operations
Step 2: Collect Historical Data
# of Incidents
Operator Assaults
Injury Claims
CrimeAccident Investigation
• # of claims by type• Average claim payout• % settled vs. dismissed• Average Defense Costs
• # crimes by type• Average cost to repair• Out-of-service impact• Investigation times
• # accidents by type• Accident-related claims• Repair costs• Insurance costs
Establish a Benchmark
• # assaults• Worker’s Compensation• Absenteeism• Lost work hours
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Step 3: Set Goals/Expectations
Expect 30-50% reduction in incident investigation times
Operator Assaults
Injury Claims
CrimeAccident Investigation
Reductions in costs & incident
frequency
Step 4: Do the Math
Before
$96,000
$2,000
$49,000
$4,340
After
$40,225
$1,000
$15,400
$2,590
Savings
$55,775
$1,000
$33,600
$1,750
Injury
Crime
Accident
Assault
=-$152,340 $59,215 $93,125
Step 4: Do the Math – 300 Buses
Bus Surveillance System Cost (Installed)
Monthly Cost Savings
# of Months to Payback=
Our Example:
= 14.5 months
300 buses x $4,500/8-camera system
$93,125
Real Life Example – Halifax Transit
• Reduction in on-board crime
• Easier claim investigation
• $2M Investment• Payback in 1.5 years
Established Technology Roadmap
Get more transit safety tips at:blog.seon.com