Octo Telematics and SAS Join Forces to Drive Insurance Telematics Data Insights to New Heights and Reduce Risk

LONDON, MILAN and BOSTON, February 2, 2015 /PRNewswire/ --

New services from a global partnership to drive the industry evolution 

Octo Telematics, the largest global provider of Insurance Telematics services and SAS, the leader in Business Analytics Software and Services, today announced a global partnership to provide insurers and their policyholders with unprecedented business insight leveraging on telematics data. The agreement is based on substantial collaboration and pre work during 2014.

The current industry context makes it clear that developments in technology, regulatory change, and the need for differentiation in an increasingly commoditized market have led many auto insurers to assess the opportunity presented by usage-based insurance (UBI). In Europe and North America, awareness of UBI tripled between 2010 and 2013. In the UK alone, telematics based car insurance sales has risen by more than 60% since June 2012.

The scope of the agreement is extremely wide and designed to exploit state of the art existing technology, joint R&D to create new analytics algorithms and services, and a shared go-to-market to selected Insurers.

The guiding principle of the agreement is to facilitate accelerated ramp-up of Telematics into the Insurance mainstream, by creating and proving Telematics value to Insurers and Consumers. Insurers will be supported in their evolution by getting more consumer insight, improved CRM, more accurate and individualized pricing and a more predictable risk base; Consumers will get more tailored pricing, improved Safety, additional Value Added Services, all delivered at a better price/quality ratio.

"Octo's data-centric DNA, its global leadership, and its vision of leading the Insurance Telematics revolution makes Octo the perfect partner for us in Insurance, an industry where SAS is actively present and has supported its evolution across several years." said Marco Icardi, CEE Regional VP of SAS.  "We are extremely excited to leverage Octo's award winning telematics platform to help build a robust telematics program utilising SAS analytical solutions."

"To date, Octo's success has been built on the capability to understand insurance companies' and Consumers' needs," said Fabio Sbianchi, CEO, Octo Telematics.  "This means conceiving, designing and implementing services that are able to: reward good driving behaviour, improve insurers claims management process efficiency, reconstruct accident dynamic and accelerate the claims indemnification process. The partnership with SAS is a fundamental acceleration for Octo strategy; together with SAS we will build a 'one-of-a-kind' Platform which we believe will be referenced as the market benchmark from leading Insurers and car makers around the globe."

About Octo Telematics 

Octo Telematics is the global leader in Insurance Telematics Services. Octo focuses on growing the value of the Insured to create sustainable value for Insurance Companies. The Octo Solution uses the Power of Big Data to deliver actionable insight across Claims Management, Pricing and Customer Assistance for the benefit of our Insurance Partners. To find out more about Octo Telematics find us at octotelematics.com or, follow us on twitter @OctoTelematics or LinkedIn.

Octo - The reliable way 

• 12 years of Flawless Execution in the Insurance Industry

• 3,200.000 Worldwide Active Customers on the Road

• 141 WorldWide Insurance Partners, Car Makers and Rental companies

• 118.000 data points recorded, processed and stored every minute

• 135 Billion data point analyzed to deliver insight to our Partners

• Up to 172,000 new customers per month

SAS 

SAS is the leader in business analytics software and services, and the largest independent vendor in the business intelligence market. Through innovative solutions, SAS helps customers at more than 70,000 sites improve performance and deliver value by making better decisions faster. Since 1976 SAS has been giving customers around the world THE POWER TO KNOW®.

SAS and all other SAS Institute Inc. product or service names are registered trademarks or trademarks of SAS Institute Inc. in the USA and other countries. ® indicates USA registration. Other brand and product names are trademarks of their respective companies.  Copyright © 2014 SAS Institute Inc. All rights reserved. 

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Press Contact SAS:
Michela Guerra
Marketing Communication Manager
[email protected]
+39(02)83134-326

http://www.sas.com/italy/pressroom

Press Contact Octo Telematics :
James Lambert    
Intelligent PR
[email protected]

http://www.sas.com/italy/pressroom

SOURCE Octo Telematics