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Telematics insurance milestone reached in North America
Over a million usage-based insurance users in the USA and Canada now have telematics units from Octo Telematics installed in their vehicles.
Octo Telematics has passed the one million UBI-user mark in North America, having shipped more than one million of its telematics devices and further solidifying its position in the global insurance telematics market.
“With over 3.7 million active customers worldwide and our rapid growth in the North American market, it is clear that we are a favourite choice for unique, powerful UBI programmes amongst insurance providers,” said Nino Tarantino, CEO, Octo Telematics North America. “With this growth, we are accelerating our investment in development, infrastructure, operations and people to further meet our partners’ needs as they continue to scale up and the market evolves.”
Gartner Research predicts that by the end of the decade, there will be a quarter of a billion connected vehicles on the road and that during the next five years, the proportion of new vehicles equipped with this capability will increase dramatically, making connected cars a major element of the Internet of Things (IoT).
Octo Telematics has 12 live UBI partner programmes in the USA and Canada, with two more set to launch before the end of 2015. The company boasts the largest database of driving and correlated crashes, and its devices make any car a “connected car”.
“Octo Telematics is an innovative force for insurance telematics the world over,” said Fabio Sbianchi, CEO, Octo Group. “Our further investment in the North American market is a powerful representation of our commitment to helping our partners and millions of users realize the full potential of these technologies.”
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