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Octo surpasses three million usage-based insurance (UBI) users in North America

Octo Telematics, a global provider of telematics and data analytics solutions for the auto insurance industry, announced that it has surpassed three million usage-based insurance (UBI) users in North America, a 50% increase over just one year.

The global demand for UBI is growing rapidly and is predicted to reach 93m global policies by 2020. With continuous development of new products and services to address the evolving market’s technology and mobility needs, Octo North America is one of the company’s fastest growing regions across its global footprint.

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New innovations have included the extension of Octo’s portfolio with the North American launch of “Fleet” for Commercial lines – an affordable Telematics program, and “Glimpse Plus” – a cutting-edge, digitally-enabled telematics service that provides a reliable way for insurers to use the combination of policyholder smartphones and a small tag sensor to gather accurate data on driving behavior, as well as more detailed crash detection for claims analysis.

About Piyush Rajan

Asst. Editor |Telematics Wire | Smart automotive

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