Octo Telematics integrates SAS’ analytics suite in its insurance IoT platform to help insurers more effectively price risk, manage claims and engage policyholders
Analytics firm SAS and Octo Telematics, an insurance IoT company, have entered into a global partnership agreement to enable property and casualty insurance carriers to gain deeper business insights through the power of IoT.
Thanks to this new partnership, insurers will now be able to analyse their full set of driving and crash data alongside their traditional data directly in Octo’s platform using SAS tools.
The combined analytics capabilities of SAS and Octo will provide insurers with prebuilt scores, interactive dashboards and smart visualizations as well as a suite of powerful SAS enterprise-level tools.
“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,” said Gianfranco Giannella, Chief Operating Officer at Octo Telematics.
Octo Telematics is a global provider of telematics and data analytics solutions for the auto insurance industry. It provides an IoT platform purpose-built for insurance that enables insurers to better price risk, manage claims and engage customers.
Partnership to enable insurers to make better decisions and act quickly
SAS’ analytics suite, deeply integrated into Octo’s insurance IoT platform, will support the complete data life cycle – from data ingestion, normalization and validation to analysis to model deployment – and will reveal meaningful insights from IoT data regardless of its quantity, type or speed.
Now, with both traditional and telematics data available in a single platform, insurers will be able to make better decisions and act quickly using the real-time insights that arise from data visualization, machine learning and streaming analytics.
“Octo is a pioneer in insurance telematics, and their insurance platform is a great example of how applied analytics combined with IoT can make insurance more profitable and personalized,” said Jason Mann, Vice President of IoT at SAS.
By providing innovative software and services, SAS aims to empower and inspire customers around the world to transform data into intelligence.