La Convención de Aseguradores de México, Mexico City – April 19, 2016 – Octo Telematics, the global leader of advanced telematics systems and services to the automotive and insurance industries, announced today its entrance into Mexico through its North American subsidiary, Octo Telematics North America. Octo’s award-winning telematics will now be available to insurance companies and fleet management companies throughout the country.
Octo Telematics boasts the largest database of driving and correlated crashes in the world, and currently owns 36 percent of the market in terms of active UBI policies, with over four million connected and active global users. Its expansion into Mexico reflects its growing global footprint, with establishments and customers across markets including Europe, the U.S., Canada and Mexico.
“We’re working on various pilot programs to deliver the most comprehensive UBI and telematics programs to customers in Mexico,” said Nino Tarantino, North American CEO, Octo Telematics. “ We bring not only the right technology solutions, but a dedicated and experienced team who understands what it takes to build, deliver and maintain a UBI program for the insurance industry, specifically. We understand claims departments needs, the insurance budget cycle, best practices for capturing different market segments, and more.”
Octo is working with LeasePlan, a global fleet management and driver mobility company, to deliver fleet services to LeasePlan Mexico customers in late Spring. LeasePlan Mexico customers will benefit from a robust fleet management platform for monitoring vehicle usage, as well as the peace of mind provided by Octo’s stolen vehicle recovery and Crash and Claims services.
“This expansion is an exciting time for the company, with Ptolemus Group forecasting the insurance telematics market to grow at a 50% CAGR by 2020, driven by opportunities such as the growth in IoT and increased demand for telematics solutions in the insurance and automotive sectors,” said Tarantino.
About Octo Telematics
With offices and partners worldwide, Octo Telematics is the most advanced Telematics Service Provider (TSP) to insurance partners, carmakers and rental companies. Founded in 2002, Octo’s award-winning Usage Based Insurance (UBI) services have achieved widespread adoption. Today, Octo maintains the world’s largest insurance telematics statistical database.
Based in Boston, Octo Telematics North America brings insurers extensive experience with infrastructure, device logistics, customized programs and client care, enabling best-in-class support across the USA, Canada and Mexico.
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