LV= Broker agrees Octo deal
Octo Telematics has signed an agreement to provide its telematics and data analytics services to LV= Broker.
Octo will provide LV= Broker with a full range of telematics services to enable the insurer to price risk more accurately and streamline claims management, as well as reward consumers who are more safety-conscious
Octo will provide a full telematics ecosystem including sensors, driver behaviour scoring, a first notification of loss (FNOL) platform and stolen vehicle recovery (SVR).
Fabio Sbianchi, CEO, Octo Telematics, said, ‘We are delighted to enter into this agreement with LV= Broker, a forward thinking and dynamic business like our own. UK motorists face increased insurance costs through both premiums and tax increases and telematics offers an efficient way for both the insurer and the motorist to make savings.’
Scott Greenhill, LV= Broker head of personal lines underwriting, said, ‘Octo has a proven track record in this area, and we’re excited about harnessing their experience to introduce this product to our brokers.’
As part of the agreement, Octo’s data will support the LV= Broker Portal, which allows brokers to get instant access to a variety of services that simplify doing business with LV=. Octo will provide the telematics platform and analytics to support the broker channel.