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Octo Telematics rewards eligible drivers with AXA Insurance and LV=Broker

Published: September 06, 2016 | London, UK

Octo Telematics has recently added four insurers to its free smartphone driving app Octo U through IGO4 Partners, offering users the opportunity to receive the best from a range of competitive quotes to reward good driving.

The insurer panel of four includes AXA Insurance and LV=Broker, with others to be added in coming months. The app allows drivers to experience the benefits of telematics without being tied to one company and enables insurers to provide up to 10% discounted insurance quotations to customers with a qualifying driver score.

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Fabio Sbianchi, CEO, Octo Telematics said:

We are putting control back into the hands of drivers. We hope that by better understanding what makes a good driver and with the incentive of a reduced insurance quote, users of Octo U will be safer on the roads.

Octo U uses telematics technology to monitor and score driver behaviour, measuring speed, braking intensity and acceleration. Drivers who obtain the satisfactory score of 7.5 and above are then rewarded with the option of submitting their score to a panel of insurers for a quote discount of up to 10%, which they can choose to accept at their discretion.

Ellie Pearson, fleet engagement manager, Brake, said:

Changing driver behaviour is crucial in reducing collisions and helping all road users to make safer choices at the wheel. In-vehicle technology is an invaluable tool in informing and improving driver behaviour. Telematics can play an important role in alerting road users to their own risky and potentially dangerous behaviours such as speeding and harsh braking, which is why we are excited about the launch of Octo U.

Octo U uses GPS and accelerometer technology to gather journey information and rank each trip based on driving behaviour. The app also takes into account elements such as road conditions, time of day, and type of road, distance, length of journey, cornering and traffic. Whatever their score, the app sends drivers tips on how to improve.

Source: Octo Telematics

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