Willis Towers Watson plans to sell its usage-based insurance assets to Octo Telematics, a UK telematics company focused on the auto insurance industry. Once the deal concludes, both companies will form a strategic alliance to develop new technology in the space.
London-based Octo said its purchase will include the company’s DriveAbility telematics program. As well, key Willis Towers Watson personnel will be joining Octo, including WTW Global Telematics Leader Geoff Werner, who is credited with leading the development and growth of DriveAbility.