Octo will provide a complete end-to-end telematics solution
Octo Telematics has signed an agreement with Hastings Direct to provide its telematics brand Hastings Direct SmartMileswith a complete end-to-end telematics package.
In particular, Octo will supply SmartMiles customers with “black box” devices, including in-vehicle installation, and the insurance with a complete crash and claims data solution, including a new scoring algorithm, to improve its processing costs and efficiency.
“To date, our success has been built on the capability to understand insurance and the needs of insurance intermediary companies and consumers,” explains Martin Williams, Managing Director, Octo UK. “This means conceiving, designing and implementing services that are able to reward good driving behaviour, improve the efficiency of insurance claims management process, reconstruct accident dynamics and accelerate the claims process. Working with SmartMiles is a great endorsement of the work that Octo undertakes for insurers and intermediaries and we look forward to supporting the growth plans for this forward thinking brand.”
Ben Tomasetti, Telematics Director, SmartMiles, emphasised: “Octo has a great track record and presented us not only with a telematics solution, but also with great insight into how we can utilise the vast amounts of data that the black-box delivers via its advanced analytical capabilities. As SmartMiles continues to grow, it’s essential that we have a telematics provider like Octo that invests in relationships and can deliver a clear roadmap of innovation and development.”
In 2014, Octo’s cutting-edge innovative telematics solutions helped insurers reduce, on average, claims management costs by an unprecedented 25% and cut claims processing time by 40%.
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