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Insurance Telematics

Usage-based Insurance market expected to garner $123 billion by 2022

Allied Market Research

Latest report based on title “Usage-Based Insurance Market” published by Allied Market Research, states that the market is expected to garner $123 billion by 2022, growing at a CAGR of 36.4% from 2016 to 2022. North America is expected to grow at the fastest pace during the forecast period, owing to …

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Autonomous cars must share crash data if something goes wrong: ABI


Cars of the future will need to collect a basic set of core data to prevent drivers being unfairly blamed if technology goes wrong, the Association of British Insurers (ABI) has mandated. British insurers are leading efforts to have a standard set of data agreed at an international level which …

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Octo Link Program to connect insurers and consumers


Published: 16 November 2016 Octo Telematics has launched The Octo Link Program. The Link Program provides a cross industry platform for simple and secure sharing of driver telematics data, enabling direct communications between the two parties. The Link services are based on driver scoring and contextualised risk analytics collected by Octo …

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Admiral Insurance Facebook account blocked after announcement of firstcarquote plans


Published: 03 November 2016 Admiral made an announcement that it would use data from consenting Facebook users to predict their driving attributes. Right after this announcement, Facebook blocked Admiral’s account, thereby ruining their plans. The scheme was already running in beta and was due to launch fully this week, but …

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Octo Drone Box- telematics solution for drones


Published: 03 November 2016 Octo Telematics has launched Octo Drone Box, the first telematics solution for business and leisure drones, providing real-time data transmission to the Octo Data Centre through 4G connectivity. As well as providing valuable data for drone management in terms of crashes, maintenance and air traffic control, …

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Toyota to diversify into telematics services and insurance


Published: 02 November 2016 Toyota Motor Corporation will establish a Mobility Services Platform (MSPF) to collaborate with various service providers, as well as telematics insurance.  Based on the proliferation and popularity of mobility services, like car-sharing; the MSPF will have various functions to support mobility services, and leverage the Toyota …

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CarVi to begin shipping its ADAS equipment


Published: 26 October 2016 CarVi will soon begin shipping its ADAS to Indiegogo backers.  From November, the device will be available in retail. Last year, CarVi ran a successful campaign on the crowdfunding platform Indiegogo, raising over $100,000. In spring, the company also secured Series A funding from Samsung Venture Investment, …

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Insurance Telematics: Insure The Box detects fraudulent claims

Insure The Box

Published :21 October 2016 Insure The box, a telematics based car insurance company was successful in saving as much as £50,000 as it could detect and reject fraudulent claims. Company had used telematics data for the first time in 2014 when it was able to bust a false claim resulting …

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Amodo parters with Nicigo to extend UBI solution


Published : 20 October 2016 Hangzhou Nicigo Technology Co.  and Amodo has developed a state-of-art driver behaviour profiling and Usage Based Insurance (UBI) platform with particular focus on as customer engagement capabilities. Both companies are well involved in the insurance telematics space.The purpose of the announced partnership is to integrate …

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Octo Telematics releases new mobile and in-vehicle solutions

Octo Telematics

Published: 19 October 2016 Octo Telematics has released a suite of products for connected cars both in-vehicle solutions and mobile solutions via Octo Glimpse, Octo Vantage and Octo Surround. Telematics is becoming an important factor in the determination of insurance premium pricing and services. Telematics data provides insurers with details …

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