OCTO Telematics and Ford to enhance insurance risk scoring
Octo Telematics announced a new agreement with Ford Motor Company where it will leverage Ford’s connected vehicle data to extend its predictive insurance risk score, OCTO DriveAbility® Score. “The integration provides a seamless experience for auto insurers and their policyholders with highly accurate pricing based upon driving data sourced directly from Ford vehicles fitted with embedded connectivity.”
“We’re excited to be working with OCTO to help provide enhanced scoring capabilities for insurance carriers through Ford’s connected vehicle data. OCTO offers insurers the ability to better manage risk based on actual driving behaviors and as a result, Ford customers can benefit from a personalized insurance rate, across a wider choice of insurance carriers.” – Kari Novatney, General Manager, Connectivity Strategy & Partnerships, Ford Motor Company.
DriveAbility Score combines Ford connected vehicle data, available on the majority of MY2020 and newer Ford and Lincoln vehicles, in the context of factors such as weather and road type, with policy and claim data across a large pool of insurers to provide a score that is not only highly predictive of loss costs but is accurate from the very first trip.