Octo Telematics – Everything you need to know
Via Vincenzo Lamaro, 51 Rome, Italy
Total Comprehensive Income
€41,044 million (according to 2017 annual report)
| Size (employees)
| Global Locations
Italy, UK, USA, Brazil, Germany, Spain
telematics insurance, vehicle services, data analytics
| Key People
CEO: Nicola Veratelli
About Octo Telematics
Octo Telematics provides telematics and data analytics solutions for the auto insurance industry worldwide. It also offers connected user services such as fleet management, vehicle diagnostics, road tolling, and real-time monitoring of traffic and environmental conditions. Its products and services are divided into seven categories: insurance telematics, smart mobility, smart analytics, digital, devices, and real-life applications.
Octo Telematics’ telematics products and services help insurers with risk management, claims management, third-party calls, assistance control room, and anti-theft stolen vehicle recovery (SVR) services. Its DriveAbility product is also part of the risk management process that represents the most valuable set of indicators to predict a driver’s loss costs.
Its smart mobility services include fleet telematics, vehicle sharing, corporate vehicle sharing, carpooling, and ride-hailing. Meanwhile, its smart analytics services include analytics as a service, geographic vehicle flows, mobile atlas, engine data reporting, vehicle utilisation data, and risk scoring.
The company’s digital services include SDK, APIs, and widget as well as a digital driver. It also offers devices for smartphones, on-board installation, battery installation, and professional installation.
Octo Telematics’ real-life application division develops and improves the application of telematics in the auto sector and for customers. It has products for cars, homes, two-wheelers, bags and luggage, children, and pets.
History of Octo Telematics
Fabio Sbianchi founded Octo Telematics in 2002 to provide telematics and data analytics solutions for the auto industry.
After years of building its reputation, Octo Telematics extended its services across Europe and North America. Italian insurance firms Unipol and AXA also chose the company for their insurance solutions.
In 2016, Octo Telematics acquired the Mobility Solutions business of Tecnologie nelle Reti e nei Sistemi, which made it the only telematics vendor offering a “triple-play” solution – covering fleet, car-sharing management needs, and customers’ insurance.
In 2017, Octo Telematics partnered with Policywise’s flagship brand Girls Drive Better to offer telematics insurance products and services as well as data analytics for young women. It also hit the milestone of five million cars connected to its platform globally and acquired Willis Towers Watson’s usage-based insurance (UBI) division.
Leadership at Octo Telematics
Nicola Veratelli – CEO
Veratelli became the chief executive officer of Octo Telematics in 2019 following years of serving senior leadership roles in other companies.
Before joining Octo Telematics, Veratelli was the senior vice president of the operations and supply chain at Hertz in London. He also worked with Rio Tinto Alcan, Eaton Corporation, Basell, and GlaxoSmithKline.
Culture at Octo Telematics
Octo Telematics gives back to local communities through initiatives for road safety improvement and athletes with disabilities. It is a member of the Together for Safer Roads campaign, which develops initiatives designed to improve public health on the roads.
Octo Telematics also supports Brake, a charity that focuses on reducing deaths and injuries on the roads by making them safer for drivers and pedestrians. The charity also supports schools, campaigns, fleet, and companies’ road safety events as well as people in the post-traumatic phase.