This launch provides insurers with innovative, low cost telematics offerings specifically designed to reduce risk and improve driving performance for their fleet policyholders. State Auto is OCTO’S first insurance partner in the United States to extend OCTO Fleet to the companies it insures.
Following the success of its large rental and fleet programs in Europe, Octo Telematics now launches a solution for insurers serving the commercial sector in North America. Based on the company’s award-winning platform, OCTO Fleet provides valuable vehicle and driver intelligence to both the insurer and their fleet policyholders, combining risk assessment, driving analytics and usage-based insurance (UBI) with a full suite of location-based, fleet management services.
OCTO Fleet delivers a significantly improved experience for large and small fleets with two offerings, each designed to reduce the total cost of vehicle ownership:
OCTO Fleet Lite – OCTO Fleet Lite is a user-friendly and self-installed solution for commercial fleets with light to medium duty vehicles that support OBDII ports. Helping the 30 percent of small fleet operators expected to adopt fleet management solutions by 2020, according to Frost & Sullivan, OCTO Fleet Lite gives fleets access to the same valuable data intelligence that was previously reserved for larger organizations, and can unite fleets and insurance companies together in their mission to gather driving intelligence and improve road and driver safety. It is the easiest and fastest way for companies with light to medium duty fleets to quickly get up and running with a comprehensive and affordable telematics program, enabling them to run more productive and profitable businesses.
OCTO Fleet – OCTO Fleet is a professionally installed solution for commercial fleets that cannot support OBDII ports. OCTO Fleet improves overall fleet safety and makes it easy for fleet owners and risk managers to manage drivers, costs and vehicle optimization. Ideal for heavy duty fleets and insurance companies with commercial lines, OCTO Fleet is a customized solution that maximizes revenue and increases operational efficiencies, providing visibility into vehicle location, usage and mileage. The in-depth intelligence also assesses driver behavior (idle time, braking and cornering habits, etc.) that helps fleet managers adjust their workforces accordingly, ensuring profitability and safety. With a robust anti-theft component, OCTO Fleet also helps insurance carriers reduce costs and better manage risk. OCTO’s integrated partnership approach with customers ensures exclusive connectivity and services, including instant access to key metrics and information.
“Launching OCTO Fleet for North America is a natural extension of the telematics solutions and analytics that we’ve been providing in the market here since 2011, and worldwide since 2002,” said Nino Tarantino, CEO of North America, Octo Telematics. “Delivering a unique combination of insurance telematics and fleet services puts telematics into the hands of any fleet manager– a powerful move forward in creating not only more profitable fleet businesses, but safer roads and drivers. Insurance companies also benefit from the intelligence, making it a win-win proposition.”
With its solutions, OCTO is able to support fleets that will be required by the FMCSA to be ELD (electronic logging device) compliant by 2017, in conjunction with the ELD Final Rule.
About Octo Telematics
OCTO is the number one global provider of telematics and data analytics solutions for the auto insurance industry. Founded in 2002, OCTO pioneered 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 four million connected users and the largest global database of telematics data, with over 100 billion miles of driving data collected and 250,000 crashes and insurance events analyzed. 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 San Paolo.
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Facebook: Octo North America
PerkettPR for Octo Telematics North America
Christine Perkett, +1-617-504-8687