Octo Telematics: Melding analytics, machine learning and IoT to make roads safer

Calculating insurance premiums is a challenging task for insurers, as they often have limited information upon which to base risk assessments. The period a driver has held a license and their type of car have never been reliable indicators of safety; and reports insurers receive about accidents are subjective and may be written sometime after the event. With telematics, insurers can understand in real-time where the driver is, and help the driver improve his or her behaviour, says Fabio Sbianchi, CEO and founder at Octo Telematics. Octo is a major provider of telematics and data analytics solutions for the auto insurance industry, and a pioneer of the insurance telematics industry. "We help insurance companies move from static data to dynamic data," says Sbianchi, who spoke at the the Analytics Experience conference in Milan, a business technology conference organised by SAS.