DriveAbility® Marketplace


Build a more profitable book of business through personalized insurance

The DriveAbility Marketplace is a telematics platform enabling insurers to make personalized insurance offers to pre-scored drivers from third party data suppliers. We analyze and score uniform and non-uniform data using the market-leading DriveAbility Score to provide qualified leads for your individualized insurance offers. Octo’s DriveAbility Marketplace removes barriers to new policyholder acquisition, expands insurers’ ability to identify and underwrite drivers, and creates a path for insurers to improve their book of business.

DriveAbility Marketplace Datasheet

What is the DriveAbility Marketplace?

The DriveAbility Marketplace is an insurance telematics lead generation engine that enables insurers to identify, qualify, offer, and bind policies based on third-party telematics data. Octo facilitates the relationship between data providers and insurers, addressing their challenges and enabling each to focus on their core competencies of providing value to participating customers. By leveraging the DriveAbility score, insurers pre-select the risk profile they want to underwrite prior to binding them to a policy, thus matching the right customer with the best insurance policy.

Key benefits

Insurers
DriveAbility Marketplace | Insurance Telematics Data ExchangeEngaged, opt-in prospects who have already adopted telematics
DriveAbility Marketplace | Insurance Telematics Data ExchangeLeads pre-scored using the highly-predicive DriveAbility Score
DriveAbility Marketplace | Insurance Telematics Data ExchangeIntegration with leading insurance telematics solutions
Data suppliers
DriveAbility Marketplace | Insurance Telematics Data ExchangeAccess to an established marketplace of data consumers
DriveAbility Marketplace | Insurance Telematics Data ExchangeNormalization, analysis, and storage of non-uniform driving data
DriveAbility Marketplace | Insurance Telematics Data ExchangeNew, value-added insurance services for existing customers

Interactive demo

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YourDrivingApp


DriveAbility Marketplace
customer experience demo







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YourDrivingApp
John Smith
95.5
Score components
Distance98
Smoothness89
Time of Day100
Road conditions95
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MySafeDriving App
John Smith
95.5
Save with National Insurer
Save with State Insurer
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MySafeDriving App
National Insurer

National Insurer would like to offer you 30% off their base rate based on your anonymous safe driving behavior.

To request a detailed quote, you must now provide the following info to National Insurer, Providing this information will not affect your existing policy.

By requesting a quote, you are also choosing to share your driving data with National Insurer. There is no obligation to purchase insurance if you request a quote. You can expect a follow up from National Insurer within 24 hours.

Email:*
First Name:*
Last Name:*
Phone Number:
Address:
Service10:00 am||||||
MySafeDriving App
State Insurer

National Insurer would like to offer you 20% off their base rate based on your anonymous safe driving behavior.

To request a detailed quote, you must now provide the following info to State Insurer, Providing this information will not affect your existing policy.

By requesting a quote, you are also choosing to share your driving data with State Insurer. There is no obligation to purchase insurance if you request a quote. You can expect a follow up from National Insurer within 24 hours.

Email:*
First Name:*
Last Name:*
Phone Number:
Address:

See how the DriveAbility Marketplace can work with your app


If you collect data on your users' driving behavior, you may be able to provide your customers with new, telematics-based services while creating a new revenue stream with the DriveAbility Marketplace.

The DriveAbility Marketplace allows you to provide your customers with a safe driving score (based on Octo's DriveAbility Score), feedback on their driving behavior, and personalized insurance offers from our panel of insurance carriers (if the driver qualifies). You and your customer are in control the whole way: the Marketplace allows you and your customer to customize their involvement in the program.

Octo facilitates the relationship between our data service providers and our insurance panel, while providing:

  • A safe driving score and feedback to your customers
  • Data processing and hosting services
  • Data analytics
  • Score filing for insurers
  • Brokerage services

Click the 'Get started' button to the left to see how DriveAbility Marketplace works with your app.

Drive


Your customers download and interact with your app as they would normally.

You collect driving data (at a minimum, GPS location) in the background as your users drive. You have the option to opt-in all drivers through your terms and conditions or create an active opt-in process before anonymized data is sent to Octo.

Your users get access to a driving score from day one, along with feedback on how to improve their driving behavior.

Once we have enough data on your driver (around 85 days), their anonymized scores will be matched against offers from our insurance partners. If the driver qualifies, they will be provided with insurance discount offers through your app.

Click 'Keep driving' to proceed.

Offer presented


When your drivers qualify for an insurance discount, your app makes these offers available to the customer. You decide where and how these offers are displayed. You can also set a minimum discount requirement, so that your customers only get discounts at a level you specify.

Insurers' offers are personalized to your customer based on location and driving behavior. No action is taken and no data is shared with insurers through this point.

Choose an offer to proceed.

Finalize offer


Our insurance partners need more information to make a final offer to your customer. We require your customer to confirm their details via the app so that our insurance partners can provide a full offer to your customer. In addition, we provide the insurer with the driver's risk score and confirmation of the offer presented to them.

Within 24 hours, our insurance partner will finalize the offer with your customer and bind the policy.

If the policy is bound, the driver is removed from the Marketplace.

Fill out the form to talk with one of our experts.

Finalize offer


Our insurance partners need more information to make a final offer to your customer. We require your customer to provide this information via the app so that our insurance partners can provide a full offer to your customer. In addition, we provide the insurer with the driver's risk score and the offer presented to them.

Within 24 hours, our insurance partner will finalize the offer with your customer and bind the policy.

If the policy is bound, the driver is removed from the Marketplace.

Fill out the form to talk with one of our experts.

What does it take to make the world’s most predictive risk score? Find out.

How DriveAbility Marketplace works

DriveAbility Marketplace Data Exchange Workflow
Data sources

Direct-to-consumer companies with established customer relations collect telematics data and partner with DriveAbility for monetization.

  • Customer engagement
  • Telematics data collection
  • Consent management
DriveAbility

Octo’s suite of DriveAbility act as a many-to-many platform for telematics data analysis and driver behavior scoring.

  • Data processing and hosting
  • Data analytics
  • Customer qualification
  • Regulatory and brokerage services
Insurers

Insurers gain access to a deep database of pre-scored drivers and craft for personalized insurance offerings based on risk scores.

  • Rating and quoting
  • Binding and underwriting
  • Service policy

Integration with market-leading telematics solutions


Complete telematics solutions

Octo’s market-leading platform-based insurance telematics solutions provide the full set of features and capabilities needed to get to market with a new usage-based insurance product. Our solutions ensure you can price risk better, manage adverse events more efficiently, and engage your policyholder more effectively – resulting in double-digit improvements to your combined ratio.

Explore personal auto solutionsExplore commercial auto solutions
Complete Telematics Solutions Dashboard
DriveAbility Scoring Dashboard

DriveAbility scoring solutions

Leveraging proprietary tools and techniques, we have created and gained approval for the DriveAbility risk score that ensures carriers can get to market quickly with a telematics-driven score that is highly-predicitive of risk and provides a significant improvement to their underwriting results. This simple to integrate score moves beyond pricing, providing insights into driving behavior and giving policyholders targets for improvement.

Explore DriveAbility Score

DriveAbility consulting services

When bringing a usage-based insurance product to market, you need to get to market quickly with a solution that improves your combined ratio. The DriveAbility Consulting team can help you develop a new usage-based insurance program or optimize your existing program by leveraging expertise developed over more than 50 telematics implementations on six continents.

Explore DriveAbility Consulting
DriveAbility Consulting Services

Join the DriveAbility Marketplace

 



















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