Octo Telematics (Octo), a global provider of telematics for the auto insurance industry, announced it has been crowned the “Best Insurance Telematics Product or Service of the Year” at TU-Automotive Detroit 2017.
Among finalists such as LexisNexis, Verisk, TrueMotion, Metromile, Urgently, Nicigo and Cambridge Mobile Telematics, Octo won the award for its Surround product, an in-vehicle always-connected solution. Surround met strict award criteria including innovation, industry engagement, user experience and industry reaction/market uptake. Octo Surround enables insurers of any size to offer a comprehensive insurance telematics program including driving behavior, crash and claims, vehicle health monitoring and distracted driving.
“This award recognizes the tremendous milestones and industry adoption that we’ve accomplished at Octo Telematics since our North America market entry in 2011,” said Nino Tarantino, CEO, Octo Telematics North America. “In addition to our recent global milestone of over five million connected cars, we also activated over 100,000 North American insurance telematics policies in the month of May, furthering our market leadership position.”
Octo Surround is a part of Octo North America’s complete suite of telematics products for insurers — now available via both in-vehicle and mobile solutions through Octo Glimpse, Octo Vantage, Octo Fleet and Octo Surround. Octo’s robust portfolio gives insurers the ability to offer solutions to users based on variable risks. For example, a higher risk teen driver may be offered a full telematics solution via Octo Surround, while a lower risk driver may be provided with Octo Glimpse, offering telematics through the policyholder’s smartphone.