(Image source: OCTO Telematics.)
OCTO Telematics (Rome) has announced a new agreement with Ford Motor Company whereby it will leveraging Ford’s connected vehicle data in order 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, according to an OCTO statement.
“We’re excited to be working with OCTO to help provide enhanced scoring capabilities for insurance carriers through Ford’s connected vehicle data” comments Kari Novatney, General Manager, Connectivity Strategy & Partnerships, Ford Motor Company. “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.”
DriveAbility Score combines Ford connected vehicle data, available on the majority of MY2020 and newer Ford and Lincoln vehicles, in 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, according to the vendor. DriveAbility has scored more than one million vehicles across five continents and is configurable to meet specific auto insurer requirements, OCTO reports.
Enhanced Insurance Risk Scoring
“We are pleased to join forces with Ford to leverage their connected vehicle technology to enhance insurance risk scoring for insurers and their customers,” comments Nicola Veratelli, CEO, OCTO Telematics, “and we look forward to exploring opportunities for incremental mobility services that benefit OCTO clients and Ford vehicle owners alike.”
OCTO describes the DriveAbility Score as taking an owner-centric approach to connected services. Ford owners with compatible vehicles can opt-in through participating insurers to learn more about their driving behaviors and the opportunity to be rewarded for safe driving.