Octo will provide UBI and fleet services to OnStar customers
Octo Telematics has partnered with General Motors to provide usage-based insurance and fleet management solutions using General Motor’s OnStar technology. These new services will be available to insurers and fleet providers across Europe starting in mid 2016.
In particular, the insurance and fleet telematics partnership will allow the development of advanced UBI scoring services (driver scoring, vehicle usage) for insurance carriers (for drivers who agree to share their information) and a full and competitive fleet management solution to fleet/leasing companies throughout Europe.
“We are delighted to be working with GM and recognise their leading position in terms of embedded automotive technology. We see the connected car as a positive shift in the industry, one that is increasingly focused on providing advantages to drivers. Our ability to analyse data so that consumers can benefit from insurance discounts is a great addition to the core OnStar proposition,” explains Fabio Sbianchi, CEO, Octo Telematics.
By 2020, about 75 per cent of GM vehicles around the world will be connected to OnStar services and this new partnership lays the foundations for a new portfolio of connected services that will provide significant advantages both to drivers and to road safety in general.
OnStar’s proprietary application provides approved partners with safe access to select vehicle information. The new partnership with Octo Telematics means that commercial fleets will be able to make real-time decisions related to a vehicle’s location, speed and fuel consumption, as well as monitor maintenance information on their connected GM vehicles.
“We believe this approach will be beneficial both to insurers and manufacturers. Octo’s insurance telematics and fleet services will help maximise loyalty and minimise the churn-rate, whilst improving policyholder and driver satisfaction,” added Fabio Sbianchi.
Jon Hyde, Managing Director OnStar Europe, pointed out: “Our co-operation with Octo effectively uses the strength of both companies enabling us to offer exciting new services to our customers. Octo is a leader in insurance telematics and GM is a leader in vehicle connectivity with more connected vehicles on the road than any other automaker. Our collaboration will provide the basis for rethinking both the insurance and fleet services that we’ll offer to our customers.”
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