After several months of testing multiple solutions, we selected Octo because of their history, expertise and leadership within insurance telematics. The Try&Drive platform is easy to use and was the best solution available for our customers.
Newton, MA (PRWEB) May 05, 2015
Octo Telematics, the global leader of advanced telematics systems and services to the automotive and insurance industries, today announced the release of their “Try&Drive” platform to enable small and medium sized insurance companies to quickly create a compelling and successful telematics program. In addition, the Rockingham Group has signed on as the first partner, using Try&Drive to build an innovative teen driver program later this year.
Try&Drive is a white-labeled insurance telematics product leveraging Octo’s decade-plus experience creating bespoke programs for some of the world’s largest insurance companies. Based on Octo’s award-winning telematics platform, Try&Drive’s turnkey product alleviates many of the challenges associated with creating an insurance telematics program from the ground up. This allows insurance companies to focus on their core business and avoid the hassles of managing Usage-Based Insurance (UBI) design and implementation. Try&Drive’s modular program platform includes: devices, actuarial grade data, driver and contextual level data, M2M systems integration, driving score and discount, CRM, logistics and shipping, customized website and mobile application, telecommunication, back-end portal, ticketing, reporting, training and full-program support.
“In response to market demands of small to mid-sized insurance carriers, we wanted to create something based on our proven telematics platform that could be implemented quickly and easily,” said Nino Tarantino, CEO of Octo Telematics North America. “Our Try&Drive platform was designed to contemplate all aspects so that insurers can quickly and affordably launch UBI programs.”
Octo also announced that Harrisonburg, VA-based Rockingham Group will use the Try&Drive platform to deliver a teen driving program to its members later this year. According to the CDC, automobile crashes are the leading cause of death for teens. Teens between 16 and 19 years old are three times more likely to be in a fatal crash than drivers over 20. Seeing a need to provide teen drivers with objective information about their driving, Rockingham sought out a solution to provide insight into how teens drive, as well as to promote safety and educate teens on how to be safer drivers.
“After several months of testing multiple solutions, we selected Octo because of their history, expertise and leadership within insurance telematics. The Try&Drive platform is easy to use and was the best solution available for our customers,” said Robert Lyon, President and CEO of Rockingham Group. "We are extremely excited to leverage Try&Drive to help our youngest customers become safer and smarter drivers and to further deliver on our promise to protect what’s most important to our policyholders.”
About The Rockingham Group
The Rockingham Group has been providing for the insurance needs of generations of policyholders since 1869. Headquartered in Harrisonburg, Virginia, the company offers an array of personal and small business insurance products to more than 50,000 policyholders through over 100 insurance agencies in Virginia and Pennsylvania. The group is rated A (excellent) by insurance industry rating organization A. M. Best Company.
About Octo Telematics.
With over 3.4 Million active customers, and offices and partners throughout the world, Octo Telematics is an advanced Telematics Service Provider (TSP) to more than 150 outstanding insurance partners, carmakers and rental companies. Founded in Rome in 2002, Octo’s award winning services have achieved widespread acceptance, recently adding more than 180,000 additional new customers each month and recording, processing and storing more than 160,000 data points every minute. With over 169 Billion data points and more than 450,000 crash events analyzed; Octo maintains the world’s largest insurance telematics statistical database.
Supporting Resources and Links:
Octo Telematics NA on Facebook: https://www.facebook.com/pages/Octo-North-America/118205004862395
Octo Telematics on Twitter: https://twitter.com/octotelematics
Rockingham Insurance on Facebook: https://www.facebook.com/rockinghamgroup
Rockingham Insurance on Twitter: https://twitter.com/rockinghamgroup
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