Ford Motor Co. in Dearborn and OCTO Telematics, headquartered in Rome, today announced an agreement that will extend OCTO’s predictive insurance risk score, called the DriveAbility Score, by leveraging Ford’s connected vehicle data.
The integration will provide a seamless experience for auto insurers and their policyholders. The offering provides 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” says Kari Novatney, general manager of connectivity strategy and partnerships at Ford. “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.”
The DriveAbility Score is based on policy and claim data across a large pool of insurers along with the data from Ford vehicles available on the majority of model year 2020 and newer Ford and Lincoln vehicles. The data takes into account context such as weather, road type, and other factors that affect driving.
OCTO DriveAbility Score takes 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.
“We are pleased to join forces with Ford to leverage their connected vehicle technology to enhance insurance risk scoring for insurers and their customers,” says Nicola Veratelli, CEO of OCTO Telematics “We look forward to exploring opportunities for incremental mobility services that benefit OCTO clients and Ford vehicle owners alike.”
Founded in 2002, OCTO is a leading provider of telematic services and data analytics for the insurance sector. Recently, the company has expanded its solutions for fleet telematics and smart mobility.