Octo Telematics Completes Acquisition of Willis Towers Watson UBI Assets
Octo will form a strategic alliance with Willis Towers Watson, focusing on advancing UBI data analytics through algorithms and tools to provide actionable insights to the insurance industry. The alliance will be led by Octo, under the guidance of an advisory board, chaired by
DriveAbility aggregates and analyses granular telematics and insurance data to provide an industry-leading driving score and to assist insurers to design, score, issue and bind telematics-based insurance policies. The solution will fit into Octo’s insurtech ecosystem, the Next Generation Platform (NGP). The NGP was developed with support from Salesforce, Software AG, SAS and SAP, as well as consulting firms Deloitte and Capgemini. It is fully-IoT connected and takes data from a wide range of sensors to deliver its best-in-breed analytics and provide innovators with the scope and ability to meet the rapidly growing demand for UBI. Ptolemus predicts that UBI policies will reach nearly 100 million worldwide by 2020. This also comes at a time when more cars are connected than ever before—Octo alone has reached 5.3 million cars connected to its platform and
Fabio Sbianchi, CEO,
ENDS
Notes to editors
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 5.3 million connected users and the largest global database of telematics data, with over 175 billion miles of driving data collected and 433,000 crashes and insurance events analyzed (as of 30
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
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Octo Telematics
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Source: Octo Telematics
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