Published: May 5, 2015 | Newton, MA
Octo Telematics today announced the release of their “Try&Drive” platform to enable small and medium sized insurance companies to quickly create a compelling and successful telematics program. In addition, the Rockingham Group has signed on as the first partner, using Try&Drive to build an innovative teen driver program later this year.
Try&Drive is a white-labeled insurance telematics product leveraging Octo’s decade-plus experience creating bespoke programs for some of the world’s largest insurance companies. Based on Octo’s award-winning telematics platform, Try&Drive allows insurance companies to focus on their core business and avoid the hassles of managing Usage-Based Insurance (UBI) design and implementation. Try&Drive’s modular program platform includes: devices, actuarial grade data, driver and contextual level data, M2M systems integration, driving score and discount, CRM, logistics and shipping, customized website and mobile application, telecommunication, back-end portal, ticketing, reporting, training and full-program support.
“The goal of our new Try&Drive program was to develop a ready-to-market Telematics program for Insurance providers that don’t want to invest time and resources on developing a new UBI program from the ground up. Try&Drive is a very cost-effective solution that can be launched with zero initial investment and can be easily customizable for different needs and goals.”, Nino Tarantino, CEO of Octo NA told Telematics Wire.
Octo also announced that Harrisonburg, VA-based Rockingham Group will use the Try&Drive platform to deliver a teen driving program to its members later this year. According to the CDC, automobile crashes are the leading cause of death for teens. Teens between 16 and 19 years old are three times more likely to be in a fatal crash than drivers over 20. Seeing a need to provide teen drivers with objective information about their driving, Rockingham sought out a solution to provide insight into how teens drive, as well as to promote safety and educate teens on how to be safer drivers.