Octo Telematics App Puts You In The Driving Seat For Savings On Car Insurance

Leading UK telematics broker iGO4 and its panel of insurers including
AXA Insurance and LV=Broker to reward eligible drivers with insurance
quotes discounted up to 10%

LONDON–(BUSINESS WIRE)–Octo
Telematics
, the global leader in telematics for insurance companies
and car makers, has added four insurers to its free smartphone driving
app Octo U through IGO4 Partners, offering users the opportunity to
receive the best from a range of competitive quotes to reward good
driving.

The insurer panel of four includes AXA Insurance and LV=Broker, with
others to be added in coming months. The app allows drivers to
experience the benefits of telematics without being tied to one company
and enables insurers to provide up to 10% discounted insurance
quotations to customers with a qualifying driver score.

Fabio Sbianchi, CEO, Octo Telematics says: “We are putting control back
into the hands of drivers. We hope that by better understanding what
makes a good driver and with the incentive of a reduced insurance quote,
users of Octo U will be safer on the roads.”

Matt Munro, CEO, iGO4 comments: “iGO4 offers Octo U users access to a
leading panel of insurers who will offer competitive rates by rewarding
safer drivers. It’s important to see the financial benefits of good
driving and Octo U offers an innovative way to do that in partnership
with our company.”

Octo U uses telematics technology to monitor and score driver behaviour,
measuring speed, braking intensity and acceleration. Drivers who obtain
the satisfactory score of 7.5 and above are then rewarded with the
option of submitting their score to a panel of insurers for a quote
discount of up to 10%, which they can choose to accept at their
discretion*.

Octo U uses GPS and accelerometer technology to gather journey
information and rank each trip based on driving behaviour. The app also
takes into account elements such as road conditions, time of day, and
type of road, distance, length of journey, cornering and traffic.
Whatever their score, the app sends drivers tips on how to improve.

Benefits of Octo U:

  • Auto stop and start function requires no driver interaction and makes
    it easy to record trips
  • Accurate insights into driving behaviour
  • Practical hints and tips on how to improve
  • Discounted insurance premiums for good drivers
  • Benefits of telematics in a smartphone format

Octo U has had over 136,000 downloads since launching in August 2015.

Octo U is also supported by Brake,
the UK road safety charity which campaigns for better driving.

Ellie Pearson, fleet engagement manager, Brake, said: “Changing driver
behaviour is crucial in reducing collisions and helping all road users
to make safer choices at the wheel. In-vehicle technology is an
invaluable tool in informing and improving driver behaviour.

“Telematics can play an important role in alerting road users to their
own risky and potentially dangerous behaviours such as speeding and
harsh braking, which is why we are excited about the launch of Octo U.”

Octo is committed to enhancing the motoring experience using embedded
and mobile technology for new connected services to benefit drivers.
Industry experts predict there will be a quarter of a billion connected
vehicles on the road by 2020, enabling new in-vehicle services and
driving capabilities, making connected cars a major element of the
Internet of Things (IoT).

Octo U is available as a free download for iPhones and Android devices
on Google Play, Apple app store and Amazon Kindle store.

Visit: http://www.octou.com/
for more information.

* Insurance option UK only

-Ends –

About Octo Telematics

Octo is the number 1 global provider of telematics and data analytics
solutions for the auto insurance industry. Founded in 2002, Octo
invented the insurance telematics industry. Today, Octo is the largest
and most experienced insurance telematics company in the world,
transforming auto insurance through behavioral, contextual and driving
analytics for more than 60 insurance partners. Octo has more than 4
million connected users and the largest global database of telematics
data, with over 100 billion miles of driving data collected and 250,000
crashes and insurance events analyzed. Octo applies proprietary
algorithms to this market-leading database to deliver powerful new
insights into driver risk, informing solutions that benefit both auto
insurance companies and policyholders. The company is headquartered in
London, with offices in Boston, Rome, Stuttgart, Madrid, and San Paolo. http://www.octotelematics.com/en/

Contacts

Octo Telematics
John Merva and Alex Clelland
020 7796 4133
octo@hudsonsandler.com
or
For
further information on LV= Broker please contact:

Lloyd Purnell
0207
634 4433 / 07500 835885
lloyd.purnell@lv.com