In many countries, school children have to gamble their lives to get an education, crossing against speeding traffic to get to school. Approximately 500 children die every day in road crashes, with many of these deaths occurring when children try to cross the road on their way to and from school. Click here to see Luc Besson’s striking 3-minute film on this situation.
Road crashes are a global health and development challenge with significant human and economic costs, especially in developing countries. The leading cause of death among people aged 15-29, road crashes kill 1.25 million people every year and injure another 50 million—more deaths than from malaria or tuberculosis. In low and middle-income countries, this is estimated to reduce GDP by 3 to 5%. The United Nations recognized the severity of this challenge by adopting specific road safety targets in the Sustainable Development Goals: to halve the number of global deaths and injuries from road crashes by 2020.
This ambitious target can only be achieved through a concerted effort that involves all major stakeholders: national and local governments, multilateral development banks, bilateral donors, civil society, and the private sector. The latter, a key stakeholder in this agenda, can contribute the knowledge, resources, and innovations that are required to accelerate progress and decisively change existing trends.
The insurance industry is also a key part of this coalition. Already playing an important, if somewhat hidden, role in the road safety agenda, the industry insures almost 1 billion vehicles globally, helping to reduce the costs of road crashes to society and the economy.
Improvements in road safety benefit the public as well as the insurance industry. Broad-based insurance coverage makes sure that health and property costs for victims of road crashes are protected, but it also benefits insurance companies by expanding their market. In the same vein, reducing the number or severity of crashes benefits all of us, while it also reduces the volume of claims to insurance firms.
In fact a huge motivator to create good road safety practices lies in the sense of personal responsibility. A driver who wants to achieve a safe record is far more likely to avoid accidents than a driver who has no care for safety. If insurance is both well designed and implemented, it can have an enormous impact for improving road safety.