Current car safety ratings often fall short because they rely heavily on controlled crash tests that don't fully capture real-world conditions. These systems also struggle to communicate risk effectively to consumers, leading to suboptimal purchasing decisions and missed opportunities for manufacturers to improve safety where it matters most.

A Data-Driven Approach to Safety Ratings

One way to improve car safety evaluations could involve combining multiple data sources with economic analysis. Publicly available crash test results, real-world accident statistics, and insurance claim data could be aggregated to create more comprehensive assessments. Economic principles like cost-benefit analysis might help quantify the actual value of different safety features - for example, showing which technologies provide the most protection per dollar spent.

The results could be presented through:

• A consumer-friendly website with clear visualizations
• An API for integration with car shopping platforms
• Regular reports tracking safety improvements over time

Balancing Stakeholder Interests

While consumers and insurers would benefit from more accurate risk assessments, automakers might have mixed reactions. The system could position itself as an opportunity for safety-conscious manufacturers to differentiate themselves. Initial academic validation could help build trust before expanding to consumer-facing applications.

For execution, one might start by:

1. Compiling and analyzing available data sources
2. Developing the rating methodology through academic research
3. Building a basic website showcasing ratings for popular models

This approach could complement existing systems like NHTSA ratings by adding real-world performance data and economic perspectives, potentially helping consumers make more informed safety decisions.