NEWTON, Mass., Sept. 13, 2013 /PRNewswire/ -- Octo Chief Marketing Officer Jonathan Hewett gave a key note speech at Telematics USA, North America's largest Telematics Conference, hosted in Chicago last week. The event gathered together over 700 Insurers and Telematics Service Providers.
Hewett began his address by reminding the audience that Telematics is much more than just a good idea but a business model that can drive real financial benefits to insurers if a program is conceived and executed in a robust way.
He went on to talk about how best to capture all of the advantages of the Telematics Ecosystem, in addition to pricing, and the importance of the Claims side of the equation where many insurers are starting to earn meaningful financial benefits by reducing their claims cost.
Hewett said, "There is a symbiotic relationship between driving claims costs down and improving the customer experience in the event of a crash. The insurer is able to get much quicker control of the claim at FNOL stage and an accurate picture of what actually happens whilst the customer gets a significantly improved consumer experience at the time when they need it most."
In conclusion he emphasised the growing importance of the customer interface in connecting the consumer with their Telematics policy through engaging web portals, tablets and smart phone devices.
Commenting at Telematics USA, Nino Tarantino, Octo Telematics North America CEO said, "The market is really starting to grow and our job is to make sure that Insurers consider the complete art of the possible with Telematics. We are doing a lot of work to develop our claims and crash management platform in the North American market as we know from other regions that there is substantial value for insurers here. We are really pleased that several of our existing partners are starting to work on implementation of Octo Claims Management into their claims operations."
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About Octo Telematics
Octo Telematics is the global leader in Insurance Telematics Services.
Octo focuses on growing the value of the Insured to create sustainable value for Insurance Companies.
The Octo Solution uses the Power of Big Data to deliver actionable insight across Claims Management, Pricing and Customer Assistance for the benefit of our Insurance Partners.
Octo - The reliable way
11 years of Flawless Execution in the Insurance Industry
1.800.000 Worldwide Active Customers on the Road
118 WorldWide Insurance Partners, Car Makers and Rental companies
44.000 data points recorded, processed and stored every minute
84 Billion data point analyzed to deliver insight to our Partners
340000 collisions measured and Crash Management Services delivered