Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 32 n° 106

Octo Telematics Continues Market Expansion in Mexico

Posted by fidest press agency su giovedì, 31 gennaio 2019

Octo Telematics, a leading global provider of telematics and data analytics solutions for the auto insurance industry, announced that it continues to expand its footprint throughout the Mexico market and has partnered with Qualitas, Mexico’s largest auto insurer with operations throughout Mexico, Latin America and the United States. Qualitas, with over four million insured vehicles, will work with Octo to develop the telematics market in Mexico by leveraging Octo’s driving behavior analytics in the commercial lines space.
Octo continues to lead the burgeoning global usage-based insurance (UBI) market, which Ptolemus recently reported had grown by 40 percent in a year, to 21.6 million active policies by the end of June 2018. Octo’s leading market share of active UBI policies, combined with its proven ability to provide both data and actionable insights to the insurance industry, will enable Qualitas to continue its insurance leadership position. Octo will supply Qualitas with fleet telematics as it expands its commercial offerings throughout Mexico with a new program, available to its customers in early 2019. The program will include risk management and asset utilization by leveraging driver behavior data and Qualitas’ commercial fleet customers will be able to track vehicles at all times, better serve customers with accurate and intelligent logistics, improve driver safety and prevent accidents.Markets and Markets reports that the Internet of Things (IoT) and telematics have led to a wave of connectivity, and that they collectively are driving profound change in the global automobile industry, including a growing opportunity in the sector for automotive connected insurance ecosystem players. Qualitas recognized this and wanted a partner that understands the industry and its challenges, as well as offering a wide range of capabilities including scoring, analytics, and advanced crash detection and crash services.In the “2019 CIO Agenda: Insurance Industry Insights,” a recently published Gartner research paper, analysts indicated that data and analytics continues to be the most commonly mentioned game-changing technology among insurance CIOs. Octo Telematics data will allow Qualitas to improve efficiency and productivity of its customers’ fleets: reducing fuel consumption, limiting unauthorized asset utilization and improving driver safety. The Octo fleet management console provides vehicle and driver behavior data at the individual, fleet segment or holistic fleet level. The management console will allow fleet managers to locate vehicles, monitor performance and support drivers in real time with location, usage and vehicle health data.


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