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Sierra Wireless collaborates with Octo Telematics for usage-based insurance solution in Europe

Sierra Wireless collaborates with Octo Telematics for usage-based insurance solution in Europe

Octo’s Super Easy Telematics Box is an innovative, easy-to-install telematics on-board unit with connectivity enabled by an AirPrime® smart module from Sierra Wireless.

Sierra Wireless today announced that Octo Telematics, the global brand leader in maintaining the world’s largest telematics statistical database, has collaborated with Sierra Wireless to provide connectivity for its innovative usage-based insurance (UBI) solution in Europe.

The Super Easy Telematics Box from Octo is the first on-board telematics unit that is designed to be easily installed by the end customer, eliminating the need for professional installation. Once installed, the box captures telematics data such as time of day and driving patterns, returning them to Octo, which then provides a driver score to the driver’s insurance agency. This allows insurance premiums to be set based on actual usage rather than on broad demographic criteria. Additional services that may be supported are automatic crash notifications, breakdown assistance, theft prevention and recovery, and personalized insights on how drivers can improve safety and fuel efficiency.

The latest generation of the Super Easy Telematics Box is powered by an AirPrime® smart module from Sierra Wireless, with an innovative architecture that integrates cellular wireless connectivity and an application processor into a single device. This enabled Octo to use the AirPrime module’s processor and Open AT® application framework to build and host the telematics application software, a far more time- and cost-efficient solution than using a separate processor.

“The use of telematics within insurance is a relatively new but quickly growing market, and to increase adoption rates we saw the need for a solution that would be simple and cost effective for insurers to provide to their customers,” said Jonathan Hewett, Group CMO for Octo Telematics.

“In our search for collaboration partners, Sierra Wireless stood out with a high level of expertise in telematics and wireless communications and a strong global position to support our growth. In addition, the company has clearly put a lot of effort into simplifying the integration and application development for its products, which was of great benefit to us in meeting our goals.”

Dan Schieler, Senior Vice President, OEM Solutions for Sierra Wireless, said:

“Octo is helping the insurance industry transform its business model and its relationship with customers.”

“The company’s commitment to making this transformation simple for both their clients and the end customer is, we believe, a key factor for success in driving the adoption of usage-based insurance and was the common goal in this collaboration.”

The Octo Telematics solution is available directly from insurance companies across Europe. For a list of participating insurers, please visit http://www.octotelematics.com/en/site/pages/insurance-companies.

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