Blog

  • The Power of Insurance IoT for Risk Management

    April 4, 2019

    Traditionally, insurers have used proxy data to identify the risk of loss for an asset. The internet of things (IoT) gives insurers access to real-time, individual, and observable data on an asset’s (or person’s) risk of loss. This data is directly actionable for risk pricing and mitigation. By identifying actions or behavior that are causative of risk and leveraging IoT …

  • 2019: The Year of Digital Insurance

    March 12, 2019

    Forward Digital insurers continue to enhance the insurance value chain with more intelligent and automated decisions. 2018 saw many able to improve their combined ratio through analytics-driven process optimization, operational improvement, and predictive capabilities. For 2019, we expect this trend to further accelerate as digital transformation continues to gain momentum and priority, resulting in more focused strategies with access to …

  • The Hidden Complexity of Insurance IoT Point Solutions

    March 4, 2019

    Connected insurance is a key strategic priority for most carriers, with 40% or more of insurers investing in a connected insurance product in the last few years. Insurers see connected devices as key to driving growth for the foreseeable future. Most of these initiatives are growing organically from within business lines. Each business line can separately realize significant value from …

  • Extending the Value of Insurance IoT Across Lines of Business

    February 7, 2019

    Insurance, more than possibly any other industry, relies on the power of data to drive results. Today’s connected insurance revolution, at its core, is about making insurance better through the Internet of Things (IoT). Insurers’ realize sustainable competitive advantage by excelling in three domains: risk management, claims management, and customer management. Insurance IoT uniquely impacts all three core insurance competencies …

  • Insurtech innovations to follow in 2019

    January 2, 2019

    As we turn the corner on 2018, we look ahead to expectations for insurtech in 2019. What are the key areas to keep an eye on? The impact of the Internet of Things (IoT) and actionable big data continues to drive paradigm shifts across the industry. The transformational nature of these technologies is being applied across the insurance customer journey …

  • The Rise of the Digital Ecosystem for Insurance

    October 11, 2018

    We had a great time last week at InsurTech Connect, the world’s largest insuretech event, in Las Vegas. The event, as described by co-founder Jay Weintraub, is to “make sure that the best people ranging from tech entrepreneurs and investors to insurance industry incumbents are present.” We enjoyed mingling with and presenting to the prestigious crowd. As we had previously …

  • Home Life on the Connected Open Road

    July 19, 2018

    The Internet of Things means that far more everyday objects are now connected to the internet. Many of these being home objects and appliances, like thermostats, voice-controlled smart speakers and even smart refrigerators that monitor your food supply. These smart sensors play a big role, monitor household comings and goings. The problem is that all these devices work but are detached from your life …

  • eCall the final answer?

    July 12, 2018

    Andrew Lee, Head of Market Intelligence and Analysis at Octo Telematics looks at the recent EU legislation mandating the inclusion of eCall systems into new cars, and the implications for connectivity in the car industry. In April 2018, the EU introduced legislation requiring all new cars be fitted with the emergency call (eCall) system. There are 15 million annual EU vehicle registrations, …

  • Advancing beyond the ‘black box’, the 360° value of telematics

    June 26, 2018

    Advancing beyond the ‘black box’, the 360° value of telematics. There has traditionally been an ambiguous relationship between employers and employees when it comes to using work vehicles as personal transport. This has largely been down to the difficulty in easily and quickly understanding how the vehicle is being used and then being able to calculate liability. However, telematics has advanced beyond …

  • Combating distracted driving through telematics

    June 1, 2018

    Distracted driving caused an estimated 40,000 fatalities in 2017 alone. Every one of those deaths was preventable. Octo is committed to helping insurers take the lead in eliminating distracted driving through telematics. Our new infographic explores the causes, costs, and potential solutions of distracted driving. Click to enlarge Octo provides a full suite of insurance telematics solutions, all fully equipped …