Business Wire

OCTO Telematics and Ford Motor Company Partner for Accurate Data Management of Connected Cars in Europe

Share

OCTO Telematics today announced a new agreement with Ford Motor Company to extend its data streaming partnership into Europe. This builds on the initial agreement signed in the North American market in July last year1. By leveraging Ford’s connected vehicle data, OCTO will enhance its market proven telematics services in insurance and analytical services in the UK, Italy, Germany, France and Spain.

The integration provides a seamless experience for automotive insurers and their policyholders, with highly predictive pricing based upon Telematics driving data collected from consenting customers’ vehicles fitted with embedded connectivity.

Through this agreement, OCTO will integrate Ford’s data with its existing data sources, strengthening OCTO’s market leadership in Europe, which powers 43.5% of European Usage Based Insurance (UBI) policies2. This strengthens the power of OCTO analytics and offers a service that is accurate and envisions the insurance world’s future needs.

OCTO’s expertise in UBI service design and implementation, already gained in the aftermarket, will provide an “off-the-shelf” ready-to-play service option, that will further integrate the digitalization of insurance, via the native connectivity of Ford’s vehicles.

The European UBI market is expected to reach over 24 million policies by 20252 and embedded/line-fit solutions will be a key driver facilitating the uptake and expansion of this growth trend, representing 10% of all UBI policies2, and will enable new mobility as a service solutions.

“We are pleased to extend the Ford relationship into the EU market to leverage their connected vehicle technology to enhance insurance risk scoring for insurers and their customers as well as new mobility as a service application for the market,” said Nicola Veratelli, OCTO Group CEO, “and we look forward to exploring opportunities for incremental mobility services that benefit OCTO clients and Ford vehicle owners alike.”

Mark Harvey, Director, Enterprise Connectivity, Ford of Europe said “We are delighted to expand our relationship with OCTO in Europe. Their technology will enable our customers to benefit from the most accurate, value for money insurance policies in the market.”

About OCTO Telematics Founded in 2002, OCTO is a leading provider of telematic services and advanced data analytics for the Insurance sector, and increasingly one of the leading companies offering solutions for Fleet Telematics and Smart Mobility. With OCTO’s unique propositions already established in the field of Insurtech and Smart Mobility, OCTO continues to expand in new sectors and international markets. In the context of an increasingly connected world, OCTO’s advanced analytics and it's set of IoT Big Data, generates actionable analytics giving life to a new era of Smart Telematics. Today it has over 5.5 million connected users and the largest database of vehicle telematics data in the world, with over 303 billion miles of driving data collected and 493,000 claims and insurance events analysed. It also manages over 400,000 vehicle rentals per month. For more information, visit www.octotelematics.com

Note: (1) Source: PTOLEMUS Consulting Group, Connected Auto Insurance Global Study (2021)


1https://media.ford.com/content/fordmedia/fna/us/en/news/2021/07/22/octo-telematics-and-ford-team-up-to-provide-more-accurate-auto-i.html
2 PTOLEMUS Consulting Group

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

OCTO Telematics Media contact:
Adriana Zambon
+39 339.3995640
press@octotelematics.com

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

HCL and UNLEASH Partner to Develop Solutions for Aquatic Ecosystem Conservation20.5.2022 17:59:00 CEST | Press release

HCL Group and UNLEASH, a global innovation program for the UN Sustainable Development Goals (SDGs), announced a year-long collaboration to mobilize youth and develop innovative solutions to promote aquatic ecosystem conservation. These solutions will aim to tackle challenges from Source (mountains & glaciers) to Sink (oceans and seas) and their links to terrestrial ecosystems. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220520005178/en/ Nature and ocean conservation play a critical role in our survival. Terrestrial and aquatic ecosystems provide us with food, water, oxygen, energy, and medicines. They regulate our climate, provide pollination to crops, and reduce the impact of natural hazards. Despite the vital importance of our planet’s ecosystems, we are experiencing a human-caused deterioration of our natural habitats: human activity has altered almost 75% of the Earth’s terrestrial surface, squeezing wildlife and natu

Tecnotree utses till Årets förändringsskapare av Helsingforsbörsens stiftelse20.5.2022 17:24:00 CEST | Pressmeddelande

Tecnotree, en teknikleverantör från Esbo, utses till Årets förändringsskapare. Företaget har bidragit till att leverera europeisk-finsk innovation för att driva på tillväxten i framväxande marknader. Dess 5G-färdiga digitala produkter och lösningar, som har tagits väl emot globalt i Europa, Latinamerika, Mellanöstern, Afrika samt Asien och Stillahavsområdet, är avgörande för att ge telekomsektorn och dess kunder avancerad digital kapacitetstillgång till viktiga digitala tjänster över hela världen inom hälso- och sjukvård, utbildning och betalningstjänster. Detta pressmeddelande använder multimedia. Se den fullständiga versionen här: https://www.businesswire.com/news/home/20220518005762/sv/ Tecnotree Padma Ravichander and Minna Heusala of the Stock Exchange Foundation at the Stock Exchange Gala on May 17, 2022. Picture taken by Tuomas Pietinen. (Photo: Business Wire) ”Förändring och omvandling utgör själva kärnan i vår verksamhet. Under det senaste decenniet har vi infört en intern kult

PPG Showcases Innovations in Paints, Coatings, Specialty Materials That Enhance Sustainability, Efficiency, Mobility20.5.2022 14:00:00 CEST | Press release

PPG (NYSE:PPG) today showcased its latest innovations to media at its production and research and development (R&D) facility in Amsterdam. The event focused on advancements in three key areas – sustainability, efficiency and mobility – reflecting the company’s goals of helping customers lower costs, reduce their environmental footprint and support the global shift to electric vehicles (EVs). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220520005101/en/ PPG showcased its latest innovations to media at its production and research and development facility in Amsterdam on May 20. The event focused on advancements in three key areas – sustainability, efficiency and mobility – reflecting the company’s goals of helping customers lower costs, reduce their environmental footprint and support the global shift to electric vehicles. (Photo: Business Wire) Recent PPG innovations highlighted during the event include: PPG CORACHAR® batte

Ecopia AI Partners with Snap Inc. Subsidiary to Pilot 3D Map Content Integration20.5.2022 13:00:00 CEST | Press release

Ecopia AI announced today that it was selected by a Snap Inc. subsidiary to provide high-precision vector mapping data. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220520005091/en/ Sample of the 3D Vector Map of Buildings and Vegetation Generated by Ecopia AI Leveraging Airbus Imagery (Photo: Business Wire) Ecopia leverages advanced AI-based mapping systems to mine the most up-to-date commercially-available geospatial imagery, accessed through its global partner network, outputting high-precision vector maps. For this initiative, Ecopia turned to Airbus for access to their global premium 30-50cm high-resolution imagery database, which is serving as the input imagery for large-scale map content production. “Ecopia has proven their ability to deliver highly-accurate mapping data at a large-scale with unparalleled speed,” said Snap, Inc subsidiary spokesperson. “Ecopia’s mission is to digitize the world using AI, offering hi

B2Broker Announced Annual Payments for B2Core, MarksMan, and B2Trader Products20.5.2022 10:00:00 CEST | Press release

B2Broker is excited to announce that it now offers an annual payment option for the three core products: MarksMan, B2Core, and B2Trader. With the introduction of this new plan, customers will be provided with a discount and a simpler approach to planning their budget. This change will allow the company to streamline its finances and improve cash flow. The annual plan is already applicable to all three products. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220520005015/en/ B2Broker Announced Annual Payments for B2Core, MarksMan, and B2Trader Products (Graphic: Business Wire) MarksMan Whether you're a seasoned pro or just getting started in the world of digital assets, MarksMan is the perfect solution. With support for spot and perpetual futures liquidity, along with easy access to liquidity pools on major crypto exchanges, MarksMan has everything you need. There's no better time to test it out than now, with the basic packa

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom