Leveraging Octo’s world class Next Generation Platform, acquisition will bring globally recognised scoring/analytical capabilities to serve the global insurance telematics marketplace
Octo Telematics (Octo), the number one global provider of telematics for the auto insurance industry, has today announced that it will acquire the usage-based insurance (UBI) assets of Willis Towers Watson, including its market-leading DriveAbility® solution and the DriveAbility Marketplace. Key Willis Towers Watson personnel will also join the Octo team, notably industry pioneer Geoff Werner (Global Telematics Leader) who has led the development and growth of DriveAbility throughout its lifecycle. Following the transaction Octo will develop a strategic alliance with Willis Towers Watson on additional auto telematics opportunities to enhance both companies’ suite of products and services. The partnership will focus on further development of algorithms and other analytical tools to provide actionable intelligence based on accurate analysis of data.