Ford Partners with Octo for Embedded UBI
Ford has opted to partner with an established UBI provider to secure insurance needs for its customers.
It has announced an agreement with Octo Telematics to embed its predictive insurance risk score, Octo DriveAbility Score into its many current and all future models. The technology should allow insurers to assess risks involved at an individual driver level for Ford users.
The system combines Ford connected vehicle data, available on the majority of MY2020 and newer Ford and Lincoln vehicles, in context of factors such as weather and road type, with policy and claim data across a large pool of insurers to provide a score that is not only highly predictive of loss costs but is accurate from the very first trip. DriveAbility has scored more than one million vehicles across five continents and is configurable to meet specific auto insurer requirements.
Kari Novatney, general manager, connectivity strategy and Partnerships, Ford Motor Company, said: “We’re excited to be working with Octo to help provide enhanced scoring capabilities for insurance carriers through Ford’s connected vehicle data. Octo offers insurers the ability to better manage risk based on actual driving behaviors and as a result, Ford customers can benefit from a personalized insurance rate, across a wider choice of insurance carriers.”
— Paul Myles is a seasoned automotive journalist based in Europe. Follow him on Twitter @Paulmyles_
