Octo Telematics Launches New Driving App To Reward Good Drivers with Cheaper Insurance

LONDON–(BUSINESS WIRE)–Global telematics leader Octo
Telematics
has launched a free smartphone driving app called ‘Octo
U’ that rewards good drivers with cheaper insurance. The app uses
telematics technology to monitor and score driver or rider behaviour and
provides users with the option of a personalised insurance quote based
on their scores.

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

Drivers with good scores are rewarded with the option of an insurance
quote from a panel of insurers, which they can choose to accept at their
discretion.*

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 and riders
  • Benefits of telematics in a smartphone format

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 cheaper insurance quote,
app users will be safer on the roads.”

The app launch was launched at last weekend’s Octo British MotoGP™ at
Silverstone, where Octo was the event’s title sponsor. It was also
supported by Brake,
a road safety charity which campaigns for better driving.

Dr Tom Fisher, senior research and communications officer, 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 U is available as a free download for iPhones and Android devices
and will be available worldwide. In the future, Octo also plans to add
non-insurance based products and services that are focused around
reducing the cost of motoring, rewarding customers with incentives that
are specific to the trips they take and providing for enhanced social
sharing and engagement.

Octo U is available to download on Google Play, Apple app store and
Amazon Kindle store from 28th August.

*Insurance option UK only

About Octo Telematics

Founded in Italy in 2002, Octo is the global brand leader in telematics
services
 for insurance companies and car makers, as well
as pioneering applications in motor rental and fleet management, car
manufacturing, governmental sectors and a fast growing range of
specialist applications. Its analytics-based software extracts
telematics data from systems installed on cars and motorcycles to
support insurance companies’ rate plans, manage the costs of claims and
fraud. More than 150 customers and over 3.7 million subscribers
currently use Octo services (June 2015). The company is headquartered in
London, with offices in Rome, Spain, Germany, Brazil and the USA. http://www.octotelematics.com/en/

Contacts

Octo Telematics
Press:
Andy Ha
020 7796 4133
octo@hudsonsandler.com