The company’s partnership in the area of insurance and fleet telematics will provide:
• A UBI scoring (driver scoring, vehicle usage) offering to insurance carriers, if the driver consents to share their information
• A competitive fleet management solution to fleet/leasing companies in Europe
With 75 percent of global GM vehicles estimated to be connected with OnStar connectivity by 2020, this agreement prepares the ground for new connected services to benefit drivers and making them safer on the roads. OnStar’s proprietary application program interfaces, or APIs, provide safe access to specified vehicle information to approved partners. Through the new partnership with Octo
Telematics, commercial fleets can make decisions relating to vehicle location, odometer, fuel consumption and other maintenance information on their GM connected vehicles.
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. ”
Jon Hyde Managing Director at OnStar Europe said: “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. This collaboration provides the basis for rethinking both insurance and fleet services that we’ll offer to our customers.
Insurance is a “must have” for insurers and fleet operators and the combination of Octo and OnStar can help drivers improve their safety on the road and achieve insurance discounts through good driving, all helping to lower the cost of motoring”
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