LONDON--(BUSINESS WIRE)--Octo Telematics (Octo), the number one global provider of telematics for the auto insurance industry, has today announced that it has partnered with Whoosnap, the platform for crowdsourced, on-demand photography for media outlets and businesses.
Whoosnap has developed an insurance-focused application, Insoore, for portable devices such as smartphones, tablets and laptops, providing the insurance industry with on-demand photography based on a community of amateur photographers. Insurers will therefore have access to cheaper photography of vehicles and incidents to streamline and reduce costs.
During the process of creating a new or renewing a car insurance policy, insurers will be able to access Insoore to request photographs of the vehicle. A certified community photographer will then take pictures and upload them to the platform. Insurers can then purchase the photographs at cheaper rates than professional photography. The same process can take place in the event of a claim as insurers can request pictorial evidence of damage to vehicles to evaluate the incident. The accessibility of the app and web-based platform means that photos can be taken and uploaded instantly. Photo authenticity is guaranteed through a certification system.
Enrico Scianaro, CEO, Whoosnap, said, "We made Whoosnap to give media outlets and corporate brands access to on-demand, crowdsourced photos of breaking news and events. It also gives amateur photographers a chance to earn money from their snaps. Insoore opens this to insurers that may rely on photographic evidence, particularly to process claims. In addition to increases in Insurance Premium Tax (IPT) and changes to the Ogden Rate, business overheads are a key contributor to soaring insurance premiums. Sourcing cheap, quality photography can help insurers cut their costs while also deepening the collaboration between insurers and their clients.”
Whoosnap and Insoore are the first additions to Octo’s new IoT Next Generation Platform (NGP), which has been developed with support from Salesforce, Software AG, SAS, SAP, as well as consulting firms Deloitte and Capgemini, creating an ecosystem of companies that is directly connected to insurers. In addition to the core telematics services provided by Octo, companies accessing the platform will be able to benefit from a range of products and offerings available from third-parties. These offerings are designed to improve the insurance and UBI experience for consumers and insurers. The NGP also provides analytics and integration of data from the growing number of connected cars.
Jonathan Hewett, Chief Marketing Officer, Octo Telematics said: “The insurance landscape is being changed by technology and motorists are looking to have full access to a range of products at the touch of a button. The NGP’s insurtech ecosystem has been designed to support companies of all sizes, from established names such as our partners in Software AG, SAP and SAS to small innovators at the other end of the spectrum. Welcoming small but exciting companies such as Whoosnap onto the NGP is beneficial not only to Whoosnap and their applications such as Insoore as they gain much wider exposure and greater access to clients, but also to the entire ecosystem as we continue to develop our holistic offering.”
Notes to editors
Whoosnap is a company which has created a platform that connects media outlets with a worldwide community of amateur photographers. Media companies can request photographs of specific events and the community then takes photos and videos in exchange for a money reward.
In just two years since its incorporation (2015), Whoosnap has achieved more than 300,000 users and one million media items have been uploaded in response to requests.
Whoosnap provides its service for: TV and Newspapers, providing exclusive content for every kind of media that uses printed or digital journalism; Brands and Marketing agencies, providing content for their ad campaigns, graphic design or any kind of promotion; Insurance and fleet management companies: to reduce costs of fraud through a real time photographic inspection of vehicles. This market is served by Whoosnap’s new product, Insoore.
The company is headquartered in Rome.
About Octo Telematics
Octo is the number 1 global provider of telematics and data analytics solutions for the auto insurance industry. Founded in 2002, Octo is one of the pioneers of the insurance telematics industry. 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 5.1 million connected users and the largest global database of telematics data, with over 165 billion miles of driving data collected and 417,000 crashes and insurance events analyzed (as of 30 June 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, please visit: http://www.octotelematics.com/