OCTO-TELEMATICS
14.10.2020 14:02:35 CEST | Business Wire | Press release
The social context of pervasive technologies in everyday life and a more complex working environment is driving the Digital Transformation of the global Insurance industry attracting new stakeholders to enter in the traditional value chain.
In this White Paper , which contains quotes from Gartner’s Predicts 2020: Digital Challenges Slow Down Insurance Industry Transformation’ report (December 2019) , we would like to explain how Digital Driver Essentials, OCTO’s range of telematic experiences allows our stakeholders, businesses and consumers to have smart, intuitive and technologically-advanced solutions, capable of giving immediate advantages in terms of loyalty, profiling, risk analysis and a positive influence on driving behaviour, assisting drivers in an accident and making their experience with the insurance company more pleasant.
The example of OCTO’s proposed path to step-by-step telematics adoption is the “DIGITAL DRIVER ESSENTIALS ” product, a complete and modular offering of digital solutions that leverages the potential of mobile technologies to facilitate the introduction of telematics and to increase customer engagement throughout the policy lifecycle.
This solution can benefit CIOs, Risk, Claim and Marketing managers looking to accelerate the embrace of a new market approach. Leveraging the app as an interaction channel, insurance companies can build a new customer experience, reinforcing the relationship through continuous engagement.
The product addresses the B2B2C model and provides different web profiles and platform interfaces to facilitate these operations.
For the policyholder it comes in two different configurations:
- Digital Driver Smartphone Edition: a comprehensive “telematic experience” in the driver’s hands. The end user is encouraged to adopt safer driving behaviours thanks to the implementation of the Driver Coaching functions (the detection of events that distract the user from driving) and the DriveAbility® scoring (the most accurate algorithm for assessing the user’s driving style).
- Digital Driver SmartTag Edition: based on the use of the smartphone associated with the OCTO SmartTag installed on the windshield which allows a wider range of use and additional services. This helps to improve safety in the event of an accident. The SmartTag edition enriches the Smartphone edition with assistance to the user in the event of an accident. The end user is identified within their vehicle and the assistance room is able to provide them with help and support immediately. In addition, once the urgency is over, the solution will allow the customer to manage the event more effectively with their insurance company.
OCTO has tested the reliability of its smart tag associated with the OCTO Digital Driver application, a solution capable of automatically detecting and reporting over 95% of accidents occurring at speeds in excess of 5 miles per hour. At the same time, false alarms are incredibly low at less than 1% of customers every year.
Benefits for Claim Managers and Fleet managers
For seamless and touchless claims handling, OCTO can reduce the process from months to days, offering significant savings from process improvements and mitigating further loss such as fraud or the downtime of fleet vehicles. Claim managers and fleet managers can benefit from instant FNOL (first notice of loss) for proactively improving the loss ratio or managing the fleet, as well as receiving a detailed dossier of events. This dossier can help reduce claim adjustments and avoid accident investigations for the insurer, while helping fleet managers identify areas for improvement in driver training. In parallel, the user experience is also greatly enhanced from near real-time support at the time of need, such as emergency services, breakdown assistance, or the reallocation of the fleet, to a quicker settlement of claims.
Effectiveness OCTO Crash
At OCTO, this all begins with the most advanced crash analytics, built from Machine Learning algorithms using the most comprehensive claims event database in the world. With half a million events fully analyzed as genuine claims and processed by the insurance industry, it is also the most mature and proven telematics-based claims solution available today.
Available as part of the Digital Driver SmartTag Edition, OCTO’s expertise and effective crash and claims service is now part of a low friction, easy to adopt solution. The benefits of crash detection can be enabled within minutes, quickly enhancing the user experience. Process improvements to claim handling as part of the business operations can also be introduced with the support of OCTO to speed up the period of return on investment (ROI).
ABOUT OCTO
Founded in 2002, OCTO is a leading provider of telematic services and advanced data analytics for the insurance sector, and increasingly one of the leading companies offering solutions for Fleet Telematics and Smart Mobility. With OCTO’s unique propositions already established in the field of Insurtech and Smart Mobility, OCTO continues to expand in new sectors and international markets. In the context of an increasingly connected world, OCTO’s advanced analytics and its set of IoT Big Data, generates actionable analytics giving life to a new era of Smart Telematics. Today it has over 6 million connected users and the largest database of vehicle telematics data in the world, with over 267 billion miles of driving data collected and 480,000 claims and insurance events analysed. It also manages over 400,000 vehicle rentals per month.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201014005433/en/
Social Media:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Venture Global Announces Closing of $2.25 Billion of Senior Secured Notes11.6.2026 23:00:00 CEST | Press release
Venture Global LNG, Inc. (“Venture Global”) announced today that its wholly-owned subsidiary, Venture Global LNG, Inc. (the “Issuer”) has closed its offering of $1.125 billion aggregate principal amount of its 6.375% senior secured notes due 2034 (the “2034 Notes”) and $1.125 billion aggregate principal amount of its 6.625% senior secured notes due 2036 (the “2036 Notes” and, together with the 2034 Notes, the “Notes”). The Issuer used the gross proceeds from the offering to redeem all of the Issuer’s outstanding 8.125% senior secured notes due 2028 (the “Existing 2028 Notes”) and used cash on hand to pay the redemption premium and related fees and expenses for the offering and the redemption. The 2034 Notes will mature on December 15, 2034, and the 2036 Notes will mature on June 15, 2036. The Notes were issued at par. The Notes will initially not be guaranteed by any of the Issuer’s subsidiaries. In the future, certain of the Issuer’s subsidiaries that incur or guarantee certain amount
Venture Global and Atlantic-SEE Announce Expansion of Long-Term LNG Sales and Purchase Agreement with Greece11.6.2026 22:30:00 CEST | Press release
Deal doubles quantity of US LNG to be supplied by Venture Global, expanding existing partnership to bolster Central and Eastern European energy securityBuilds on Venture Global’s regasification capacity investment in the Alexandroupolis LNG import terminal to supply U.S. LNG to the region Today, Venture Global, Inc. (NYSE: VG) and ATLANTIC – SEE LNG TRADE S.A. of Greece announced an expansion of their existing Sales and Purchase Agreement (SPA) for the purchase of U.S. liquefied natural gas (LNG) from Venture Global for twenty years starting in 2030. Under the deal, Atlantic-SEE is doubling their existing contract with Venture Global from a minimum of 0.5 million tonnes per annum (MTPA) to 1.0 million tonnes per annum (MTPA). Atlantic-SEE LNG is a newly formed joint venture announced in November at the 6th Partnership for Transatlantic Energy Cooperation (PTEC) conference hosted in Athens, Greece between Greek companies AKTOR Group and DEPA Commercial. The announcement of this expanded
Merrithew® Expands Global Mindful Movement Leadership with Acquisition of the GYROTONIC® Organization11.6.2026 17:30:00 CEST | Press release
Strategic acquisition strengthens Merrithew International Inc.’s position as a leading global authority in mindful movement education, equipment, and wellness Merrithew®, a global leader in mindful movement education and equipment and creator of internationally recognized programs including STOTT PILATES®, ZEN•GA®, Halo® Training and Total Barre®, today announced the acquisition of the GYROTONIC® organization, creator of the globally respected GYROTONIC® and GYROKINESIS® methods. Founded by Juliu Horvath, the GYROTONIC® and GYROKINESIS® methods are internationally recognized for their distinctive approach to movement, combining fluidity, strength, mobility, coordination, and rehabilitation through specialized equipment and movement sequences. Practiced in studios and wellness centers worldwide, the methods have cultivated a deeply loyal global community of instructors, trainers, therapists, and movement professionals. The acquisition marks a significant milestone in Merrithew Internati
GigaDevice Expands Optical Communication Portfolio with New GD32E512 and GD32E252 Series MCUs for Optical Modules11.6.2026 16:00:00 CEST | Press release
GigaDevice, a leading semiconductor company specializing in Flash memory, 32-bit microcontrollers (MCUs), sensors, and analog products, has introduced the new GD32E512 and GD32E252 series MCUs specifically designed for optical module applications. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260611850679/en/ Empowering Optical Interconnect Innovation, GigaDevice Unveils Dedicated MCUs for Optical Modules. As a leading supplier of MCUs for optical module applications, GigaDevice has maintained a strong focus on the optical communication market, continuously aligning its product development with evolving industry requirements and next-generation optical interconnect technologies. Leveraging years of expertise in optical module control solutions, GigaDevice has established a strong position in the market through continuous innovation and close collaboration with industry partners. To further support the advancement of high-sp
Saudi Arabia at the Center of the Global Water Industry as IDWS 2026 Reshapes the Future of Water11.6.2026 15:47:00 CEST | Press release
In an increasingly resource-constrained world, water has become critical to both economic growth and national security, driving demand for global leadership in sustainability, innovation, and water solutions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260611388456/en/ Saudi Arabia at the Center of the Global Water Industry as IDWS 2026 Reshapes the Future of Water (Graphic: AETOSWire) The Saudi Water Authority has announced the return of the Innovation Driven Water Sustainability Conference (IDWS), taking place from 7 to 9 December 2026 at The Ritz-Carlton, Jeddah, as the Kingdom consolidates its position at the center of the global water conversation. As home to one of the world’s most advanced and rapidly evolving water management ecosystems, Saudi Arabia currently operates more than 500 water production facilities across the Kingdom with total water production capacity exceeding 16.2 million cubic meters per day. The
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom