Octo Telematics, a leading global provider of telematics and data analytics solutions for the auto insurance industry, and Agero, the largest B2B provider of roadside assistance services to automotive manufacturers and insurance providers in North America, have announced a partnership to deliver an integrated crash management solution to enable carriers to more proactively and quickly respond to any crash situation, and will permit insurance carriers to improve First Notice of Loss (FNOL) services and savings.
“There is a lot of opportunity for insurance carriers to use telematics to improve customer value proposition and bottom line revenue. Claims expense represents up to 76% of gross premium, fraud represents 4-15% of total claim value, late accident reporting results in a 33% higher payout and telematics results in 40-50% higher response time,” said Nino Tarantino, CEO of Octo Telematics North America.