BOSTON--(BUSINESS WIRE)--Octo Telematics (Octo), the number one global provider of telematics for the auto insurance industry, with 39% of the market in terms of active usage-based insurance (UBI) policies, announced today that it has been crowned the Best Insurance Telematics Product or Service of the Year at TU-Automotive Detroit 2017. In addition, three Octo executives presented important telematics themes in keynote and panel discussions at the industry-leading show.
Among finalists such as LexisNexis, Verisk, TrueMotion, Metromile, Urgently, Nicigo and Cambridge Mobile Telematics, Octo won the title for its Surround solution, an in-vehicle always-connected solution. Surround met strict award criteria including innovation, industry engagement, user experience and industry reaction/market uptake. Octo Surround enables insurers of any size to offer a comprehensive insurance telematics program including driving behavior, crash&claims, vehicle health monitoring and distracted driving.
“This award recognizes the tremendous milestones and industry adoption that we’ve accomplished at Octo Telematics since our North America market entry in 2011,” said Nino Tarantino, CEO, Octo Telematics North America. “In addition to our recent global milestone of over five million connected cars, we also activated over 100,000 North American insurance telematics policies in the month of May, furthering our market leadership position.”
Octo Surround is a part of Octo North America’s complete suite of telematics products for insurers - now available via both in-vehicle and mobile solutions through Octo Glimpse, Octo Vantage, Octo Fleet and Octo Surround. Octo’s robust portfolio gives insurers the ability to offer solutions to users based on variable risks – for example, a higher risk teen driver may be offered a full telematics solution via Octo Surround, while a lower risk driver may be provided with Octo Glimpse, offering telematics through the policyholder’s smartphone.
In addition to its award win, Octo Telematics and Octo Telematics North America executives led important presentations at the conference, including:
- Future Proof Telematics, Jonathan Hewett, Chief Marketing Officer
- Unlocking New Automotive Revenue Streams, Cletus Nunes, Director of Sales
- The Aftermarket Claims Its Piece of the Pie, Steven Fernandes, Director of Innovation
With 150 speakers, a 200,000 square foot exhibition and 3,000 attendees, TU Detroit is the world’s biggest conference and expo for connected and autonomous cars. For full details and times of Octo’s presentations, visit: https://www.octousa.com/event/tu-automotive-detroit-2017/.
About Octo Telematics
Octo is the number one global provider of telematics and data analytics solutions for the auto insurance industry. Founded in 2002, today Octo is the largest and most experienced insurance telematics company in the world, transforming auto insurance through behavioral, contextual and driving analytics for more than 60 insurance partners. Octo has more than 4.9 million connected users and one of the largest global databases of telematics data, with over 155 billion miles of driving data collected and 397,000 crashes and insurance events analyzed (as of March 31, 2017). Octo applies proprietary algorithms to this market-leading database to deliver powerful new insights into driver risk, informing solutions that benefit both auto insurance companies and policyholders.
The company is headquartered in London, with offices in Boston, Rome, Stuttgart, Madrid, and Sao Paulo. For more information, visit www.octotelematics.com or follow us on Twitter: @octousa @octotelematics.