A better way to make cyclists and pedestrians safer would be more stringent laws against dangerous car designs, and some enforcement of the existing laws. We are starting to see US-style monster pickups and SUVs here in Belgium and they are a fucking abomination - far too large for city streets - and their extra weight and height plus reduced visibility make them dangerous for pedestrians and cyclists.
I'm in favour of requiring a much stricter driver's license to drive those big pickups and SUVs. And maybe some other measures to discourage their unnecessary use.