OCTO Telematics, has announced it has been selected as the exclusive telematics provider for the Insurance Corporation of British Columbia´s (ICBC) one-year project, Techpilot, for newly licensed drivers, the company said.
The goal of the initiative, which launched in January, is to validate that telematics can modify driving behavior for the better.
OCTO is the provider of transforming IoT Big Data sets into actionable intelligence. For insurance, OCTO offers the market DriveAbility® risk score and advanced connected insurance capabilities. OCTO´s Digital Driver insurance telematics mobile app-based solution selected by ICBC provides comprehensive data and powerful insights into driving behavior and associated risk at a competitive price point.
Participants in the Techpilot will use a combination of their smartphone and OCTO-provisioned Smart Tag to detect and score driving behaviors such as speeding, braking, and cellphone use. Half of the pilot´s participants will fully interact with OCTO´s Digital Driver including receiving their score, feedback, and safe driving rewards in the form of gift cards to popular retailers and restaurants.
The remaining participants will be limited to receiving rewards solely based on their participation in the Techpilot. The pilot results will inform and optimize ICBC´s telematics strategy and plan.
Founded in 2002, OCTO is a global provider of telematics and data analytics solutions for the auto insurance industry and, increasingly, a major player in Fleet Telematics services, with world-class solutions to grow its core businesses — Insurtech and Smart Mobility — and to expand and provide innovative connected solutions in new industries and international markets.
ICBC is committed to its 3.2 million customers and their safety on the road. ICBC licenses and insures drivers and vehicles across the province through service centres, plus a network of more than 900 independent brokers and government agent offices. To find out more, visit icbc.com.