News

  • How telematics affected this insurer’s loss ratio

    June 10, 2018

    Could Canadian insurers cut auto claims costs by 15% by using telematics? Perhaps, if they could somehow import the experience of European insurers. An unnamed European insurer compared its auto insurance customers who were using telematics with its customers who were not, Nino Tarantino, North American CEO for Octo, said in an interview Thursday with Canadian Underwriter. Click here to read the …

  • Pay Per Mile Insurance—Advantages for Insurers

    June 8, 2018

    Adopting new policy options such as PPM demonstrate that insurers are keeping up with these evolutions and are able to serve policyholders with unique and value-added solutions at each stage of their driving journey. Pay-per-mile (PPM) insurance is a growing auto insurance product segment that can help lower a driver’s monthly auto insurance premium. PPM is a variety of pay-as-you-drive (PAYD) insurance, …

  • CAA Selects Octo to Power CAA MyPace Pay-As-You-Go Program

    May 31, 2018

    CAA Insurance Company (Thornhill, Ontario) has selected Octo Telematics to support its CAA MyPace, a pay-as-you-go (PAYG) insurance program offering Ontario’s CAA policyholders a way to pay for, reduce and manage auto insurance premiums if they drive less than 9,000 kilometers per year. “We wanted to recognize the varied and unique ways that our policyholders drive today and quickly roll out new …

  • Who's using what in P&C insurance

    April 9, 2018

    Octo Telematics, the international provider of big data and analytics services for the insurance and automotive industries is teaming up with SAS, the software and services company, to deliver multi-dimensional analytics and real-time data services such as risk scoring. These services help insurance customers better evaluate risk, price their premiums appropriately and assess accidents accurately. With incentives to improve driving behavior, insurers …

  • Telematics and Claims: A Real-World Example

    April 4, 2018

    According to Ptolemus Consulting Group, the global telematics market has grown by 26 percent in the last year. Insurers that have mastered telematics for pricing are moving downstream to use the data to streamline the claims process, combat fraud, and reduce overall claims costs. Most insurance executives recognize that the value of telematics-driven claims is significant, but they don’t really know how …

  • Telematics opens door for tailored customer-centric services starting with insurance

    April 3, 2018

    UK-based Octo Telematics has signed a global partnership with France’s RCI Bank to offer tailored insurance policies to their customers based on Octo’s IOT-enabled Next Generation Platform (NGP). Using The platform will use Application Platform Interfaces (APIs) and feature modular telematics-based insurance architecture through which partners can avail themselves of any mix of services. The first wave of offerings is …

  • Connected Car News: Tesla, ON Semiconductor, Foresight, SambaSafety, Valeo, Renesasm and Octo Telematics

    April 1, 2018

    Octo Telematics Partnership with RCI Bank: Global Platform Approach to Offer Tailor-made here exists the concept of ‘incentivise to monetise‘, whereby most automakers are trying to achieve a balance of collecting data and offering benefits to the end-user, including discounts on warranties, free trials of services, etc. Meanwhile, in the B2B sector, there is a lot of talk about business …

  • In the driver's seat

    March 26, 2018

    The demand for auto telematics continues to grow. Last year, an estimated 33 million light vehicles equipped with some form of telematics were produced globally, and production of telematics-enabled vehicles is expected to grow by 11% annually, topping more than 66 million automobiles by 2023. Alongside the new breed of connected vehicles, many insurers are also offering their customers telematics solutions …

  • Octo Telematics to supply services through Groupe Renault finance company

    March 21, 2018

    Octo Telematics has entered into a global partnership with Groupe Renault’s finance company to provide its services and data analytics to its customers. As part of its sales process, RCI Bank and Services will offer customers the option to include an Octo device in their car. Octo will then use its big data analytics to develop a profile of each …

  • How telematics is revolutionizing claims

    March 9, 2018

    If someone has a telematics device in their car and they get into an accident, insurers can now determine in real-time where the car was damaged, the extent of the damage, the probability of bodily injury, and what other car was involved, explains Nino Tarantino, CEO of Octo Telematics North America. It’s something Octo has been involved with for many …