Octo Telematics

Octo Telematics
Private
Industry Insurance and Fleet Telematics
Big Data and Data Analytics
Founded 2002
Headquarters London, United Kingdom
Number of locations
 London, Rome, Boston, Stuttgart, Madrid, Sao Paulo
Key people
 Fabio Sbianchi (CEO)
Giuseppe Zuco(CTO)
Website octotelematics.com

Octo Telematics Ltd. was founded in 2002 by Fabio Sbianchi, who is now CEO.[1] Octo is a telematics company that provides tailored solutions for the insurance and automotive industries [2] by collecting contextual vehicle, location and crash data, as well as driver behavior information to support Usage-based insurance (UBI) policies – also known as pay-as-you-drive.

Octo was established in Italy and entered the UK and US markets in 2011. In May 2015 it moved its headquarters to London. The company has offices in Boston, Rome, Stuttgart, Madrid, and Sao Paulo.[3] Globally, they currently have four million connected users.[4]

Products

Octo delivers services to both insurers and drivers using behavioral, contextual and driving analytics. For validation of their products and services, they work with research institutes like The Ohio State University’s Center for Automotive Research (CAR).[5]

The information that insurers receive from their telematics devices changes the way coverage is priced with policies drawing on data to cost premiums more accurately.[6] The technology is also used to detect insurance fraud, by giving insurers a complete understanding of a crash. If the devices detect a G-force above a certain level, they can automatically trigger a call to check if the driver and any passengers are unharmed, or alert emergency services if needed.[7]

The Octo U is a smartphone app, it uses GPS and smartphone sensors to track how safely a car is driven.[8]

Octo’s Link programme connects Octo U to insurers, enabling drivers to share their driving record with insurers for quotation.[9]

Insurance Customers

  • Admiral
  • Allianz
  • Hastings Direct

Other Customers

  • BMW
  • General Motors
  • Toyota

Sponsorship

  • At the Mugello GP in 2015, Octo Telematics became the title sponsor of Pramac Racing, renaming the number two Ducati team to Octo Pramac Racing.[10]
  • Octo telematics became title sponsor on the British round of the MotoGP in 2015.[11]

References

  1. ↑ "About | OctoTelematics". octotelematics.com. Retrieved 2016-12-08.
  2. ↑ "Log In - New York Times". nytimes.com. Retrieved 2016-12-08.
  3. ↑ "Home | OctoTelematics". octotelematics.com. Retrieved 2016-12-08.
  4. ↑ "Octo Telematics Announces Milestone of Four Million Worldwide Connected Users - Yahoo Finance". finance.yahoo.com. Retrieved 2016-12-08.
  5. ↑ "Octo Telematics Partners with The Ohio State University Center for Automotive Research". news.yahoo.com. Retrieved 2016-12-08.
  6. ↑ "Insurers test the limits of telematics' big data". ft.com. Retrieved 2016-12-08.
  7. ↑ "Crash test: The tech driving down car insurance fraud - BBC News". bbc.co.uk. Retrieved 2016-12-08.
  8. ↑ "Octo U app uses GPS to track how safety you actually drive | Daily Mail Online". dailymail.co.uk. Retrieved 2016-12-08.
  9. ↑ "Insurers to 'bid' for the best drivers based on telematics scores". telegraph.co.uk. Retrieved 2016-12-08.
  10. ↑ "Ducati - Racing - Octo Pramac Racing MotoGP". ducati.com. Retrieved 2016-12-08.
  11. ↑ Dorna Sports. "Octo Telematics: New Title Sponsor for British MotoGP™ round". motogp.com. Retrieved 2016-12-08.
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