Four insurers have been added to the free smartphone driving app of Octo
, the leading global telematics provider for insurance companies and carmakers.
The new additions to the Octo
U app’s panel of insurers include Axa and LV=
. Two unidentified companies will be added in the coming months.
U allows drivers to experience the benefits of telematics without being tied to one company. It also enables insurers to provide up to 10% discounted quotations to customers with a qualifying driver score.
“We are putting control back into the hands of drivers,” said Octo
Telematics CEO Fabio Sbianchi.
“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.”
Measuring speed, braking intensity and acceleration, the Octo
U app uses telematics to monitor and score driver behaviour.
Drivers who obtain a score of 7.5 and above will be rewarded with the option of submitting their score to a panel of insurers for a quote discount.
The app uses GPS and accelerometer technology to gather journey information and rank each trip based on driving behaviour.
It also looks into factors such as road conditions, time of day, type of road, distance, length of journey, cornering and traffic.
Only 1 in 4 drivers expects industry’s service in automated future
Telematics firm Trak Global targets mass insurance market
Insurer’s telematics device evidence faces court challenge