Insurance TelematicsVehicle Telematics

Octo’s telematics devices and big data analytics to power the insurance for Car & Away’s new Gatwick Airport car-sharing scheme

Octo Telematics (Octo) has announced that its telematics devices and big data analytics will be used to power the insurance for Car & Away’s new Gatwick Airport car-sharing scheme.

The base technology for the scheme will draw upon Octo subsidiary Omoove’s car- and ride-sharing platform to provide services to holidaymakers parking at Gatwick.

Car & Away is a new peer-to-peer car-sharing platform that allows vehicle owners to rent out their car whilst they are away on holiday. Holidaymakers flying from the airport will be able to earn while on holiday as their cars are rented to other drivers.

Car & Away scheme will temporarily install an Octo device and will receive a temporary usage-based insurance (UBI) policy. The car’s usage will be monitored from driving out of the car park to its return, clearly establishing any liability in case of an accident, as well as measuring safe driving behavior and any wear and tear caused by poor driving.

Car & Away can monitor driving behavior and enable insurers to provide the best value cover and assistance in the event of any emergency. The box will be easily removed and the policy canceled as soon as the car is returned. The car will also be cleaned inside and out, ready for the owners to return.

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