Smartphone Tag-Based Solution Makes Insurance Telematics Reliable and Easy
Newton, Mass. (Sept. 5, 2017) – Octo Telematics, a leading global provider of telematics and data analytics solutions for the auto insurance industry, has announced the release of Glimpse Plus, a cutting-edge, digitally-enabled telematics service that provides a reliable way for insurers to gather accurate data on driving behavior, as well as more detailed crash detection and claims analysis. The solution also enables consumers to use their smartphone to monitor their driving habits and become safer drivers.
Roughly three-quarters of Americans (77%) now own a smartphone, according to a Pew Research Center survey conducted in November 2016. Smartphone adoption has more than doubled since the Center began surveying on this topic in 2011. As such, the use of smartphones to detect driver trips is also increasing, and can be a powerful tool in improving driver behavior and road safety, and increasing insurance intelligence for analyzing driver scores, crash detection and reconstruction, and more.
Based on Octo Telematics’ vast telematics database and position as the largest and most experienced insurance telematics company, the Glimpse Plus solution brings a superior ability to collect quality data – making the telematics offering more accurate than others based on a smartphone alone. A tag sensor, easily installed in the vehicle, connects with the user’s smartphone, making the detection of trip events and data incredibly reliable – even if the smartphone is not in the car. The high quality sensor allows the usage of Octo’s proprietary algorithm to detect, validate and reconstruct crashes, enabling insurers to reduce their claim cost, as well as providing a better user experience.
“Successful technology adoption is based on quality and value, but also ease of use, all of which we address with Glimpse Plus,” said Nino Tarantino, CEO of Octo North America. “We dedicated a lot of resources and time to create a better, more reliable and easier-to-use telematics solution for the consumer policyholder, and one that also delivers higher quality data for scoring and claims management to the insurance provider. With our fully automated solution, users can simply download the app, connect and go.”
Glimpse Plus combines the smartphone user experience with the intelligence of a tag to identify drivers, drastically reduce smartphone battery usage, and provide crash capabilities – detection, instant FNOL, and reconstruction.
- Pairs with smartphone for driver identification and data transmission
- Improves reliability and accuracy of data collection and risk event detection over smartphone-as-a-device model
- Adds crash detection, instant FNOL, and crash reconstruction capabilities
- Drastically reduces battery usage over smartphone-as-a-device model
- Detects vehicle trips and events even when the smartphone is not present in the vehicle
About Octo Telematics
Octo is the number one global provider of telematics and data analytics solutions for the auto insurance industry. Founded in 2002, today Octo is the largest and most experienced insurance telematics company in the world, transforming auto insurance through behavioral, contextual and driving analytics for more than 60 insurance partners. Octo has 5.1 million connected users and one of the largest global databases of telematics data, with over 165 billion miles of driving data collected and 417,000 crashes and insurance events analyzed (as of June 30, 2017). Octo applies proprietary algorithms to this market-leading database to deliver powerful new insights into driver risk, informing solutions that benefit both auto insurance companies and policyholders.
The company is headquartered in London, with offices in Boston, Rome, Stuttgart, Madrid, and Sao Paulo. For more information, visit www.octotelematics.com.
Source: Octo TelematicsTags: Glimpse Plus, launch, Octo Telematics, Telematics