OCTO’s exceptional customer acquisition and retention strategies, customer-centric framework, and unmatched customer value position it to drive the telematics UBI space into its next growth phase.
SAN ANTONIO, Dec. 14, 2022 /PRNewswire/ — Recently, Frost & Sullivan researched the telematics usage-based insurance industry and, based on its analysis, recognizes OCTO Telematics with the 2022 Global Company of the Year Award. The company primarily services the usage-based insurance (UBI) industry and provides flexible solutions that serve a global market and various industry verticals outside of insurance, including:
- Fleet management
- Automotive original equipment manufacturers (OEMs)
- Car dealerships
- Public transport and mobility services, including carsharing, renting, and leasing
- Smart cities
- Smart homes
OCTO uses machine learning and artificial intelligence to analyze Internet of Things (IoT) data sets, providing robust analysis and insights to more customized user solutions for multiple use cases. It creates innovative products through its continuous investment and push toward developing device-agnostic solutions integrating third parties source of data. The company developed, refined, and perfected these processes over 20 years. As a result, OCTO’s technologies are consistently ahead in their industry adoption rates and ensure clients receive cutting-edge solutions. The company envisions a future for connected smart insurance across every vehicle and home, and is creating one-stop solutions for households and enabling smart city development.
Elizabeth Whynott, a Frost & Sullivan best practices research analyst, observed,“OCTO offers the most comprehensive solution suite on the market, spanning robust features and analytics capabilities delivered through flexible model: end to end or integrated via third parties data collection OCTO addresses the need of various industry verticals. The company’s end-to-end digital solutions create an integrated software implementing digital processes and enabling the smart mobility technologies ecosystem.”
OCTO has various dedicated teams tasked with maintaining a keen eye on the market to ensure its solutions remain innovative and deliver client value while sustaining its leadership in the telematics UBI industry. The company adopts a continuous and proactive customer-centric approach to continuously evolve its telematics solutions and maintain an innovative edge to promote smart mobility as key for the sustainability of the vertical industries OCTO serves, as well as that of urban environments, in line with the company Vision Zero goals: zero crashes, zero congestion, zero pollution.
This helps meet the unique needs of its millions of connected users and hundreds of client partners across various industry verticals worldwide. With its sterling reputation and strong partnership with large insurance companies, OCTO is a preferred partner and it continues to capture market share and sustain its leadership.
“OCTO also offers clients essential resources, including event demonstrations and workshops, enabling clients to network, view innovations, and develop ideas for future products and services. It remains a trusted partner, earning a reputation for offering the overall best in the telematics UBI industry,” added Ashwini Suvarna, Best Practices Research Analyst at Frost & Sullivan. With its strong overall performance, OCTO earns Frost & Sullivan’s 2022 Global Company of the Year Award in the telematics UBI insurance industry.
Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies, and the resulting leadership in terms of customer value and market penetration.
Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
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About OCTO Telematics
OCTO has always been at the forefront of innovation in the connected mobility sector. A pioneer in insurance telematics, today the company is the main advanced telematics and technology solutions provider also in the Fleet Management and Smart Mobility industries, leveraging Machine Learning and AI to transform IoT data into actionable intelligence.
Thanks to its know-how, the expertise developed in 20 years of global advanced analytical services and its M&A strategy, OCTO is spreading the value of advanced data analytics to serve worldwide end users of different mobile applications with a superior customer experience.
Through different business applications and use cases, OCTO is bringing telematics to the core of smart cities as an advocate of the global goals of sustainability thanks to OCTO Vision Zero: Zero Crashes, Zero Congestion, Zero Pollution.
OCTO has currently 5,5 million connected users, holds the largest global database of telematics data, with more than 510 billion miles of driving data collected and over 501,000 crashes and insurance events analyzed, and an operational management capacity of over 400.000 hires per month.
OCTO Telematics Media contact
SOURCE Frost & Sullivan