IoT and Data Management Hub
Integrating smart devices and providers to improve insurance
Solving the many-to-many challenge for insurance IoT
Realizing the full value of IoT for insurance requires complete integration of sensor data with core policy, claims, and customer engagement systems. As insurers explore new ways to leverage smart devices, the cost and complexity of managing their IoT portfolio increases exponentially. As part of our insurance IoT platform, Octo's IoT and data management hub helps insurers mitigate integration costs, reduces barriers to sensor-based innovation, and helps insurers more effectively leverage IoT data.
The full value of insurance IoT can only be realized through integration with core policy, claims, and customer systems. Custom integration with these systems is resource intensive and complex. Our platform reduces this friction, allowing insurers to integrate with our platform once and seamlessly plugin new smart devices or integrate with vendors.
By ingesting data from any data source and storing that data centrally, insurers can significantly improve the outcomes of their innovation initiatives. IoT point solutions result in siloed data and business-line approach to innovation. Our platform solves this problem by elevating IoT and data management to an enterprise level.
Better data management
Using smart devices effectively requires insurers to manage the many unique ways in which sensors and vendors generate, analyze, and store IoT data. As insurers explore new connected insurance models, data-related challenges will develop. Our platform provides a single source of truth for IoT and policy data, allowing insurers to more effectively manage and leverage all their IoT data.
IoT and data management hub overview
|Data collection: Ingests and hosts IoT data from virtually any data source or provider.|
|Data normalization and enrichment: Normalizes ingested data and enriches it with contextual data.|
|Streaming event processing: Provides behavior-based event triggers through real-time analytics.|
|Ingest and store data from multiple connected home sensor vendors.|
|Enrich auto telematics sensor data with traffic, weather, and road data.|
|Detect vehicle accidents and home security breaches in real time.|
Learn more about our platform
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