Ford announces deal with Italian telematics company to customize insurance rates

Ford Motor Co. and OCTO Telematics announced a partnership to improve OCTO’s insurance risk score using Ford’s connected vehicle data, leading to more personalized rates. // Courtesy of Ford Motor Co.

Ford Motor Co. in Dearborn and Rome-headquartered OCTO Telematics today announced an agreement that will extend OCTO’s predictive insurance risk score, called DriveAbility Score, by leveraging data from connected vehicles from Ford.

The integration will provide a seamless experience for auto insurers and their policyholders. The offering provides accurate pricing based on driving data directly from Ford vehicles equipped with built-in connectivity.

“We are excited to be working with OCTO to help deliver enhanced rating capabilities to insurance companies using Ford’s connected vehicle data,” said Kari Novatney, general manager of connectivity strategy and partnerships at Ford. “OCTO offers insurers the ability to better manage risk based on actual driving behavior and, as a result, Ford customers can benefit from personalized insurance pricing, through a wider choice of insurance companies. . “

The DriveAbility Score is based on policy and claims data from a large number of insurers, as well as Ford vehicle data available on the majority of Ford and Lincoln vehicles from the 2020 model year and newer. 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 register with participating insurers to learn more about their driving behaviors and the possibility of being rewarded for safe driving.

“We are delighted to partner with Ford to leverage their connected vehicle technology to improve insurance risk scoring for insurers and their customers,” said Nicola Veratelli, CEO of OCTO Telematics. and owners of Ford vehicles.

Founded in 2002, OCTO is a leading provider of telematics and data analysis services for the insurance industry. Recently, the company has extended its solutions for fleet telematics and intelligent mobility.

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