Insurtech innovations to follow in 2019

Peter Bretton Blog

As we turn the corner on 2018, we look ahead to expectations for insurtech in 2019. What are the key areas to keep an eye on? The impact of the Internet of Things (IoT) and actionable big data continues to drive paradigm shifts across the industry. The transformational nature of these technologies is being applied across the insurance customer journey …

The Rise of the Digital Ecosystem for Insurance

Peter Bretton Blog

We had a great time last week at InsurTech Connect, the world’s largest insuretech event, in Las Vegas. The event, as described by co-founder Jay Weintraub, is to “make sure that the best people ranging from tech entrepreneurs and investors to insurance industry incumbents are present.” We enjoyed mingling with and presenting to the prestigious crowd. As we had previously …

Combatting distracted driving through telematics

Peter Bretton Blog

Distracted driving caused an estimated 40,000 fatalities in 2017 alone. Every one of those deaths was preventable. Octo is committed to helping insurers take the lead in eliminating distracted driving through telematics. Our new infographic explores the causes, costs, and potential solutions of distracted driving. Click to enlarge Octo provides a full suite of insurance telematics solutions, all fully equipped …

Telematics and claims: the bottom line (infographic)

Peter Bretton Blog

For auto insurance carriers, claims account for over 70% of net premiums written. Any reductions that insurers can make to claims costs are critical to improving their combined ratio. Telematics is uniquely suited to address all the major contributors to claims expenses and help insurers achieve sustainable cost reductions. This infographic explores the growing loss ratio challenge auto insurers face …

The ideal insurtech stack: new white paper

Peter Bretton Blog

Juniper Research, a leading analyst firm in the mobile and digital technology sector, recently released a new white paper entitled A Guide to the Ideal Insurtech Stack, highlighting the critical capabilities every auto insurer needs to consider as part of their digital and process transformation strategy. New insurance products and business models are being brought to market continuously and auto …

The many types of telematics-based insurance

Shayne Brown Blog

With the majority of millennials interested in a usage-based insurance (UBI) policy, and 84% rating UBI policies as a more fair way to price insurance, telematics represents a major opportunity for insurers. Most US telematics programs offer some variation of a good driving discount program. Telematics can support a much broader range of programs, allowing insurers to profitably enter new …

The Next Generation IoT and Telematics Platform [webinar]

Peter Bretton Blog

Octo’s Chief Marketing Officer, Jonathan Hewitt and Ovum Principal Analyst Charles Juniper bring you this webinar about the transformative process of building the next generation IoT and telematics platform. During this webinar, you will learn: About Octo’s transformation to the Next Generation Platform (NGP) for Telematics & IoT How we process and analyze data from 5.4 million connected cars every …

Octo’s Cletus Nunes addresses the shifting mobility landscape

Peter Bretton Blog

Octo’s Cletus Nunes sits down with IoT Time podcast series host Ken Briodagh to talk about the shifting auto insurance landscape. They explore the need for insurers to develop core competencies in data and analytics, how changing mobility habits will impact insurers, and telematics as the foundation for the future of auto insurance. Listen to the full podcast below:

Octo Telematics Recaps Momentous Year in North America; Delivers 2018 Insurtech Predictions

Christine Blog

As December winds down, the team at Octo North America wraps up a very successful 2017! It was a busy year for the Company overall, with numerous partnerships, multiple new products delivered, the announcement of a new IoT platform, and the acquisition of Willis Towers Watson, including its market-leading DriveAbility® solution and the DriveAbility Marketplace. Highlights of our year include: February: Octo …

Value, Not Discounts, Key to Commercial Lines Telematics

Peter Bretton Blog

Over the past year, Octo has seen significant interest in telematics solutions for commercial auto insurance. As insurers start seeing results from their personal auto usage-based insurance programs, they look for new ways to leverage telematics technology. With half of the 13 million commercial vehicles in the US connected via telematics, bringing telematics to commercial auto is a logical next …