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Octo U, the app that helps drivers save money with the insurance companies for “pay as you drive”

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Published on Nov 23, 2015

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Thanks to the collaboration with IBM and The Weather Company, Octo Telematics uses real-time meteorological data of the two companies to assess the driving behavior of motorists. The fruit of this collaboration is the Octo U, which uses proprietary algorithms to offer personalized estimates of insurance “pay-as-you-drive”, based on the behavior of the driver and on the use of the medium. Octo U – The driving score app that saves you money on car insurance,Octo Telematics SPACategoria: TravelFree , The telematics solutions for the insurance based on actual usage are gaining momentum also in Italy, and it is for this reason that the technology of telematics allows insurers to offer policies tailored to the style and driving performance of the customer. The new app Octo U of Octo Telematics uses an algorithm exclusively, based on GPS technology, to collect information on the travel and classify each of them based on factors such as speed, braking and acceleration. To determine the score of the motorist, take into account external variables, often directly influenced by the weather, as the conditions of the road and the traffic. Drivers with a good score are rewarded with the opportunity to receive from a group of insurance companies for a quote discounted, that they may accept at their discretion. The meteorological data are an important element to refine the algorithms of the risk classification used by insurers to assess driving behavior, for this, thanks to the possibility of access to the API weather The Weather Company, Octo U is able to formulate an algorithm for the processing of the score more accurate and reliable, based on the weather conditions, the precise location and time in which the car driver has made the trip. The app Octo U is available for free on the App Store. Link to the original article: Octo U, the app that helps drivers save money with the insurance companies for “pay as you drive”








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