Directed Electronics and Octo Telematics Partner to Provide Telematics Solutions to Automotive Insurance Companies

Directed Electronics and Octo Telematics Partner to Provide Telematics Solutions to Automotive Insurance Companies

The Europeanautomotive insurance telematics market has expanded rapidly over thelast several years with leading insurance companies offering consumersvalue-added services such as automatic crash response and usage-basedinsurance. Both Octo Telematics and Directed Electronicsbelieve significant opportunities exist for similar services in theUnited States, which is evidenced by insurance companies such asProgressive and GMAC Insurance offering telematics-based services aswell as increased interest by federal and state agencies. Telematicsis poised to increase opportunities for insurance companies and driversthrough reduced risk, value-added services such as automatic crashresponse and accident damage management, safe driver rewards, and acleaner environment by incentivizing responsible driving behaviors.

 

According toKevin Duffy, President of Directed Electronics, “We are excited to joinforces with Octo to create a compelling telematics offering forautomotive insurance underwriters. With 750,000 activecustomers and 50 insurance company clients in Europe, Octo Telematicsis the clear leader in the insurance telematics space, and our newpartnership will leverage Octo’s technology platform and experience todeliver these services in both the United States and Canada.”

According toGermano Fanelli, Chief Executive Officer of Octo Telematics,“Directed’s vast network of customers with installation capability,industry-leading technical support, and sizable logisticsinfrastructure will provide a powerful platform capable of acceleratingour speed to market. We look forward to jointly working with insurance providers to further advance telematics offerings in North America”.


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