ROME–(BUSINESS WIRE)–OCTO Telematics today announced a new agreement with Ford Motor Company to expand its data streaming partnership in Europe. This builds on the original agreement signed in the North American market in July last year1. Leveraging Ford’s connected vehicle data, OCTO will enhance its market-proven telematics services in insurance and analytics services in the UK, Italy, Germany, France and Spain.

The integration provides a seamless experience for auto insurers and their policyholders, with highly predictive pricing based on telematics driving data collected from willing customer vehicles equipped with built-in connectivity.

Through this agreement, OCTO will integrate Ford data with its existing data sources, further strengthening OCTO’s market leadership in Europe, which powers 43.5% of European usage-based insurance (UBI) policies. ).2. This reinforces the power of OCTO Analytics and offers a service that is accurate and foresees the future needs of the insurance world.

OCTO’s expertise in the design and implementation of UBI services, already acquired in the secondary market, will provide an “off-the-shelf” off-the-shelf service option, which will further integrate the digitization of the assurance, via the native connectivity of Ford vehicles.

The European UBI market is expected to reach over 24 million policies by 20252 and in-vehicle/online solutions will be a key driver facilitating the adoption and expansion of this growth trend, accounting for 10% of all UBI policies2and will enable new mobility-as-a-service solutions.

“We are excited to extend the relationship with Ford to the European market to leverage their connected vehicle technology to improve insurance risk scoring for insurers and their customers, as well as new mobility as an app. of service for the market,” said Nicola Veratelli, CEO of OCTO Group. , “and we look forward to exploring opportunities for additional mobility services that benefit OCTO customers and Ford vehicle owners.”

Mark Harvey, Director, Enterprise Connectivity, Ford of Europe, said: “We are delighted to expand our relationship with OCTO in Europe. Their technology will allow our customers to benefit from the most accurate and cost-effective insurance policies on the market. »

About OCTO telematics Founded in 2002, OCTO is a leading provider of telematics and advanced data analytics services for the insurance industry, and increasingly one of the leading companies providing solutions for fleet telematics and smart mobility. With OCTO’s unique propositions already established in Insurtech and Smart Mobility, OCTO continues to expand into new sectors and international markets. In the context of an increasingly connected world, OCTO’s advanced analytics and its IoT Big Data set generate actionable insights bringing to life a new era of intelligent telematics. Today, it has over 5.5 million connected users and the largest automotive telematics database in the world, with over 303 billion kilometers of driving data collected and 493,000 claims and accident events. insurance analyzed. It also manages more than 400,000 vehicle rentals per month. For more information, visit www.octotelematics.com

To note: (1) Source: PTOLEMUS Consulting Group, Global Connected Car Insurance Study (2021)


1 https://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 Advisory Group