Octo publishes its first Ready for Guidewire accelerator to help Guidewire customers achieve seamless telematics implementations and powerful insight for informed solutions
Octo Telematics (“Octo”), a leading global provider of telematics and data analytics solutions for the auto insurance industry, and Guidewire Software, Inc. (NYSE: GWRE), a provider of software products to general insurers, today announced that Octo has joined Guidewire PartnerConnect™ as a Solution Partner. The companies also announced that Octo’s accelerator has successfully completed the Ready for Guidewire accelerator validation process and is eligible to use the Ready for Guidewire validation mark. This designates that the offering has been through a rigorous review process that supports readiness for integration with Guidewire InsuranceSuite™ products. Guidewire and Octo plan to expand their alliance, with Octo building additional accelerators for Guidewire customers over time.
Octo is providing a Ready for Guidewire accelerator to make it easier for any insurance company using Guidewire PolicyCenter® for policy administration to integrate with Octo’s solutions, reducing implementation time and effort, thereby lowering project costs. Insurers can stay focused on customer service and the business of insurance rather than the IT work surrounding insurance telematics integration. A majority of Octo’s global insurance partners already use or plan to use Guidewire, so the accelerator will facilitate the integrations between their UBI programs and Guidewire.
“Octo Telematics brings a unique offering to Guidewire PolicyCenter customers, enabling them to avoid implementation challenges typically associated with the integration of an insurance telematics program,” said Nino Tarantino, CEO, Octo North America. “With Octo’s accelerator, both large and small insurance companies can quickly harness the power and value of a telematics program, and benefit from the data analysis of the largest and most experienced telematics provider in the world. As a result, insurers will have access to the power of the IoT to improve customer service, engagement, retention and loyalty.”
Octo’s ‘Ready for Guidewire’ accelerator will continue to evolve and currently supports insurers by enabling:
- Increased speed to market;
- Seamless implementation for telematics and UBI (usage based insurance) programs; and
- An instantly available, full suite of telematics tools: UBI, driving behavior analysis, vehicle health, and location based services.
“The Ready for Guidewire program offers partner-built, Guidewire-validated accelerators that help reduce core system integration timeframes for our insurance customers,” said Becky Mattick, director, Global Solution Alliances, Guidewire Software. “Octo has enormous experience in transforming motor insurance through behavioral, contextual and driving analytics. They can deliver powerful insight into driver risk, as well as value-added services such as crash and claims support, vehicle health and location-based services, that benefit both insurers and their policyholders. We are pleased to welcome Octo as an alliance partner and to provide Ready for Guidewire designation for the Octo Integration for PolicyCenter accelerator. We thank them for their participation in this program.”
Octo is one of the largest global providers of telematics and data analytics solutions for the auto insurance industry. Founded in 2002, today Octo is the largest and most experienced insurance telematics company in the world, transforming auto insurance through behavioral, contextual and driving analytics for more than 60 insurance partners. Octo has more than 4.8 million connected users and one of the largest global databases of telematics data, with over 146 billion miles of driving data collected and 379,000 crashes and insurance events analyzed (as of December 31, 2016). Octo applies proprietary algorithms to this market-leading database to deliver powerful new insights into driver risk, informing solutions that benefit both auto insurance companies and policyholders.
The company is headquartered in London, with offices in Boston, Rome, Stuttgart, Madrid, and Sao Paulo.
Guidewire PartnerConnectTM is a global network of select partner companies that provide consulting services and solutions to enhance, extend, and complement the capabilities of Guidewire products. Our worldwide partner community helps contribute to the success of our mutual customers in the general insurance industry by delivering Guidewire software implementations, value-add solution and technology offerings, and guidance on insurance industry best practices.
Ready for Guidewire accelerators developed by PartnerConnect Solution members have been rigorously reviewed by Guidewire, adhere to Guidewire software design principles, and meet established criteria. The accelerators are published on Guidewire Marketplace and are available for download by Guidewire customers at no charge.
Guidewire PartnerConnect is an invitation-only program.
Guidewire delivers the software that general insurers need to adapt and succeed in a time of rapid industry change. We combine three elements – core processing, data and analytics, and digital engagement – into a technology platform that enhances insurers’ ability to engage and empower their customers and employees. More than 260 general insurers around the world have selected Guidewire.