Octo partners with GM
Octo Telematics has partnered with General Motors (GM) to provide Usage Based Insurance (UBI) and fleet management solutions using General Motor’s OnStar technology.
Actuarial Post reports the new services will be available to insurers and fleet providers across Europe starting in Q2 2016. With 75% of global GM vehicles estimated to be connected with OnStar connectivity by 2020, the agreement offers potential for new connected services to benefit drivers and make them safer on the roads.
Fabio Sbianchi, CEO, Octo Telematics commented, ‘We are delighted to be working with GM and recognise their leading position with automotive embedded technology. We see the connected car as a positive shift in the industry which is increasingly focused on providing benefits for drivers. Our ability to analyse data so that consumers can receive insurance discounts is a great addition to the core OnStar proposition.
‘We believe this approach will be beneficial for the driver insurer, and manufacturer. Octo’s insurance telematics and fleet services will help maximise loyalty and minimise the churn-rate, whilst improving policy holder and driver satisfaction.’