Nicola Veratelli appointed as CEO at Octo Group.
The manager will lead the market expansion and next phase of growth of a Company that, for almost 18 years now, has been designing smart, data-based solutions for the age of connectivity-
Rome, September 17, 2019 – Nicola Veratelli has been appointed Chief Executive Officer at Octo Group, the leading global telematics provider that makes big data actionable through machine learning based systems driven by smart connected vehicles.
Today, Octo has almost 6 million connected vehicles globally and boasts one of the largest telematics database worldwide.
The appointment of the new CEO is a further step in the process of structuring the company with an experienced leadership team to accelerate Octo’s market and offering expansion plans to new industries in Europe and in the Americas.
Founded almost 18 years ago, in 2002, Octo is on the cusp of a major shift. It is the global leader in telematics and, increasingly, a major player in IoT with world-class solutions to grow its core business – insurtech and intelligent mobility – and expand to provide innovative connected solutions in new markets.
With Nicola Veratelli on board, Octo leverages skills and competencies to consolidate its position as the largest and most experienced global provider of telematics and advanced analytics solutions for the auto insurance industry, foster the growth in intelligent mobility, and engineer solutions designed to make the most out of the connected world we live in across different industries.
Prior to joining Octo, Nicola Veratelli was Senior Vice President of Operations & Supply Chain at Hertz, based in London. An international leader with a breadth of experience having worked in various multinational companies, Nicola brings his command of operational excellence and elite change management skills to lead Octo’s next phase of growth. Nicola’s past experiences include Rio Tinto Alcan, Eaton Corporation, LyondellBasell and Glaxo SmithKline.
Sir John Peace, Chairman of the Board at Octo, said: “Nicola is a welcome addition to Octo; the company has experienced great success in our core businesses and it is now time to expand into new markets. Octo is uniquely positioned to apply its strengths in data and analytics to a broader portfolio of IoT-based offerings.”
The challenge is daunting” says Fabio Sbianchi, Octo co-founder, board member, and former CEO of the company, “The industry is evolving rapidly and the time is ripe to invest in its future and welcome new leadership to ensure that the Company continues to thrive as it has done in the past eighteen years.”
“It’s an incredible honor” – added Veratelli – “to have the opportunity to serve and lead this company which has gone from a brilliant idea to an universally-admired leader of an industry it helped pioneer. I look forward to catalyzing the Octo organization to enable even more value from IoT data, leveraging the unparalleled expertise of our people.”
Founded in 2002, Octo is today the Number 1 global provider of telematics and data analytics solutions for the auto insurance industry and, increasingly, a major player in Fleet management services, with world-class solutions to grow its core businesses – insurtech and intelligent mobility – and expand to provide innovative connected solutions in new industries and international markets.
Octo’s vision is to connect the world of mobility through advanced analytics and IoT-driven services for a new era of Smart Telematics.
Octo currently has 6 million connected users, holds the largest global database of telematics data, with more than 248 billion miles of driving data collected and over 464,000 crashes and insurance events analyzed, and runs more than 10 car sharing services and more than 400.000 hires per month.
The company is headquartered in Rome, with offices in Boston, London, Stuttgart, Madrid, Shanghai, and Sao Paulo.
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