Octo Telematics partners with SAS to improve insurance insights

Data analytics solution for auto insurance Octo Telematics has partnered with fellow analytics solution SAS to improve property and casualty (P&C) insurance carriers’ capabilities.

Through the deal, the pair are hoping to give deeper business insights to P&C insurance carriers by leveraging IoT devices. By using the billions of sensors attached to IoT devices, connected in homes, vehicles and people, will give the companies the ability to offer more personalised insurance.

Clients will be able to analyse their full set of driving and crash data, as well as their traditional data via the Octo platform. With the combined analytics capabilities of the two, insurers will access prebuild scores, interactive dashboards and smart visualisations, as well as tools to create their own.

SAS’s analytics will be integrated within Octo’s Insurance IoT platform to support the full data lifecycle, from data ingestion, normalisation, and validation, through to model deployment. The hope is it will uncover better insights from IoT.

US-headquartered SAS is an open analytics platform which helps with generating insights, data management, risk management, fraud, security intelligence, and customer intelligence.

Octo Telematics chief operating officer Gianfranco Giannella said, “SAS shares our vision for the transformative power of insurance IoT and best-in-class analytics. Together, we are able to analyse huge data volumes and generate actionable insight at speed for insurers and customers.”

The Octo IoT and data analytics platform gives auto insurers improved ability to price risk, manage claims and engage customers.

Copyright © 2019 FinTech Global


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