Year: 2022
Defining and Measuring Success for Digital KPIs
Gartner
Defining and Measuring Success for Digital KPIs
Published 3 December 2021
By James Anderson, Paul Proctor, Srinath Sampath, Galliopi Demetriou
“CIOs should develop metrics and set goals that lay out their digital business journey and sharpen expected business outcomes. IT CIOs should use digital business KPIs as leading indicators of enterprise performance to drive executive decisions and explain the benefits of digital investment.”
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Covid-19 affected the majority of carsharing operators only temporarily
According to Berg Insight Report “The Carsharing Telematics Market 5th Edition”.
Author Martin Cederqvist, IoT Analyst.
The COVID-19 pandemic has affected the carsharing market during the last years. While the initial lockdowns led to a substantial decrease of carsharing usage, a quick recovery was however taking place during the summer period and most carsharing players managed to adapt services to meet the new mobility needs during the pandemic.
Customers somewhat used carsharing instead of public transport and have been keener to replace car ownership with a carsharing membership as well as using carsharing vehicles to a greater extent for domestic holiday travels. Most carsharing markets experienced growth in members despite the impact of the pandemic, however at a slower pace than anticipated before the pandemic. Several expansion plans were put on hold during 2020 but were implemented in 2021 instead. A few individual carsharing operators have suffered from the pandemic and never managed to recover from it.
Carsharing operators in China – Pand Auto, Morefun Travel and Gofun for instance – shut down their carsharing services during 2021. The carsharing market still grew with 11 percent in terms of members in 2021, and the market shows good promise also in 2022.
Berg Insight believes that carsharing operators have shown that it is possible to operate a sustainable service during challenging times by being flexible to new mobility needs.
https://www.berginsight.com/the-carsharing-telematics-market
OCTO Telematics Applauded by Frost & Sullivan for Its Versatile Telematic Solutions and Demonstrated Leadership via Continuous Innovation
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, TX. – 14th December 2022– 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.
About Frost & Sullivan
For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.
Contact:
Tarini Singh
P: +91-9953764546
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
Adriana Zambon
press@octotelematics.com
+39 339.3995640
OCTO lands in Japan with brand new offices
For the leading group in Connected Mobility, headquartered in Italy, this is the eighth international subsidiary in addition to the USA, China, Brazil, UK, Germany, Spain and France
Rome, 6th December 2022 – OCTO Telematics, the leader in data analytics for the insurance sector, Smart Mobility and Fleet Management, announced today the opening of a new office in Tokyo, Japan, to strengthen its presence in a strategic hub for technology, robotics and automation. The company was already present in Japan with a commercial partnership with a leading insurance company in Japan.
With this announcement OCTO widens its geographical reach, now present in Rome – where the Company Headquarter, Boston, London, Paris, Madrid, Stuttgart, Sao Paulo. Tokyo joins the other subsidiaries in Hong Kong and Shanghai. The company’s choice to further invest in Asia highlights how the region is an important growth market for the company.
The Japanese subsidiary of OCTO will further help the development of the connected mobility market throughout Japan and surrounding countries, providing technical and sales support to partners.
Thanks to the new subsidiary, OCTO will consolidate the already established presence in a market that has always been innovative in technology, robotics and automation sectors, contributing to Japan’s reputation as a leading manufacturer and exporter of innovative technologies.
The presence of OCTO in Japan will translate into additional opportunities for expanding its core business – advanced telematics and technological solutions for the insurance sector, Fleet Management and Smart Mobility – while also providing sales support to existing and new customers.
OCTO holds the largest global telematics data database, with over 510 billion driving kms collected and 501,000 insurance claims and events analysed with an operational capacity to manage over 400,000 vehicle rentals per month.
“The opening of the new subsidiary in Japan,”- said Nicola Veratelli, OCTO Group CEO, – is not a goal but a starting point. Our turnover abroad is constantly growing, and the development of new markets is for us of the utmost importance. This is why Asia is a key market for us, and we expect a significant increase in the coming years as well as opportunities for cultural exchange aimed at developing new solutions tailored to the specific features of the market, that could also be the starting point for the development of innovative solutions in other Countries where OCTO is already operation or will soon be”.,
About OCTO
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
Adriana Zambon
+39 339.3995640
TECHNOLOGY FORUM CAMPANIA 2022
OCTO will participate in the “Technology Forum Campania 2022” which takes place in Naples, from 30th November to 1st December 2022.
The Sixth edition of the platform for discussion and comparison between both national and international, public and private players, has the mission of contributing to the creation and acceleration for the development of Campania’s innovation and research ecosystem.
On 30 November from 18.10 Nicola Veratelli, CEO of OCTO will be speaking as part of the Panel “Opportunities and challenges for smart, connected and sustainable mobility”.
Don’t miss the opportunity to join us!
Assemblea Alis e stati generali del trasporto e della logistica
OCTO will participate in the “Assemblea Alis e stati generali del trasporto e della logistica ” which takes place in Rome, from 29 to 30 November 2022.
The programme will take place over the course of two days, with technical-institutional sessions, interviews with ministers and institutional representatives, discussions between entrepreneurs and stakeholders from the entire logistics chain.
Gabriele Natoli, Sharing & Rental Stream Leader at OCTO will be speaking, don’t miss the opportunity to join us!