Octo Telematics announced today that EMC Insurance Companies has chosen Octo as a fleet telematics partner for its commercial telematics program, Peak FleetTM. Octo Telematics will provide the full platform and accompanying services for the insurer’s fleet telematics program to promote safer driving and maximize fleet performance.
According to a recent Berg Insight report, the market for fleet management in the Americas is in a growth period that will continue for years to come, specifically in the advanced North American market. Driven by regulatory developments such as the ELD mandate, fleet owners have begun to embrace telematics to optimize fleet operations, and Berg expects the market to grow at a compound annual growth rate (CAGR) of 17 percent, from 5.8 million units in 2015 to 12.7 million units in 2020.
As the benefits of telematics become more apparent for commercial lines, EMC Insurance Companies is a leading example of innovation in the space. They will involve their independent insurance agents directly in the process of offering Peak Fleet to policyholders, supporting their agents with all necessary information and enabling commercial fleets of all sizes to benefit from the program.