Octo Group S.p.A., operating as Octo Telematics and corporately styled as OCTO, is an Italian multinational technology company. Founded in Italy in 2002, OCTO is most known for providing

telematics Telematics is an interdisciplinary field encompassing telecommunications, vehicular technologies ( road transport, road safety, etc.), electrical engineering (sensors, instrumentation, wireless communications, etc.), and computer science (multimedi ...

and

Internet of things The Internet of things (IoT) describes physical objects (or groups of such objects) with sensors, processing ability, software and other technologies that connect and exchange data with other devices and systems over the Internet or other comm ...

(IoT) analytics to the auto insurance industry. This is commonly known as

Usage-based insurance Usage-based insurance (UBI), also known as pay as you drive (PAYD), pay how you drive (PHYD) and mile-based auto insurance, is a type of vehicle insurance whereby the costs are dependent upon type of vehicle used, measured against time, distance, b ...

(UBI) or pay-as-you-drive insurance. Today, the company is one of the largest telematics and data analytics service provider for the car insurance industry. With their advanced analytical services, OCTO also serves the

fleet management Fleet management is the management of: * Commercial motor vehicles such as cars, vans, trucks, specialist vehicles (such as mobile construction machinery), forklifts, and trailers * Private vehicles used for work purposes (the 'grey fleet') * Avi ...

industry and provides IoT solutions to a number of other markets. The company is headquartered in Rome, with offices in Boston, London, Madrid, Stuttgart, Sao Paulo and Shanghai. OCTO's

big data Though used sometimes loosely partly because of a lack of formal definition, the interpretation that seems to best describe Big data is the one associated with large body of information that we could not comprehend when used only in smaller am ...

set is enriched by data collected by connected users around the world. Drivers automatically provide data relating to the car, their driving behavior, localization, context, possible accidents, along with other complex data. This is stored and analyzed based on a combination of thousands of parameters. Products and services are developed for

insurance companies Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...

, fleet managers,

car manufacturers This is a list of notable automobile manufacturers with articles on Wikipedia by country. It includes companies that are in business as well as defunct manufacturers. Only companies that have articles here are included. A Algeria * SNVI ...

and

shared mobility Shared may refer to: * Sharing * Shared ancestry or Common descent * Shared care * Shared-cost service * Shared decision-making in medicine * Shared delusion (disambiguation), Shared delusion, various meanings * Shared government * Shared intellig ...

operators. Governments and cities are also part of the growing customer base. Globally, OCTO has more than 6 million connected users that is said to generate 267 billion miles of driving data and 473,000 crashes and insurance related events. Within the shared mobility market, OCTO serves more than 10 car sharing services with more than 400,000 rentals per month.

History

* OCTO was established in Italy 2002 and entered the UK and US markets in 2011, followed by Canada in 2014. * The Renova Group, acquired Octo in April 2014, before selling equity to private equity group Pamplona Capital Management in September of that year. * In December 2016, OCTO acquired the Mobility Solutions business of Tecnologienelle Retienei Sistemi T.R.S. S.p.A. * OCTO forms a strategic alliance with

Willis Towers Watson Willis Towers Watson Public Limited Company is a British-American multinational insurance advisor company. The company was founded in 2016, following a merger of the Willis Group and Towers Watson. Overview WTW operates in more than 140 co ...

in October 2017, and acquired their UBI assets, including DriveAbility and DriveAbility Marketplace. * In August 2018, OCTO invested in UK based company, Nebula Systems. More recently at the end of 2019, OCTO acquired the entire share capital of Nebula Systems Ltd. * OCTO entered a technical partnership with electric bike manufacturer Energica in September 2019.

Products and services

OCTO develops products and services that operate with a wide range of devices (including

smartphones A smartphone is a portable computer device that combines mobile telephone and computing functions into one unit. They are distinguished from feature phones by their stronger hardware capabilities and extensive mobile operating systems, which ...

, Black-Boxes and OBD), vehicles (including,

cars A car or automobile is a motor vehicle with wheels. Most definitions of ''cars'' say that they run primarily on roads, seat one to eight people, have four wheels, and mainly transport people instead of goods. The year 1886 is regarded as t ...

trucks A truck or lorry is a motor vehicle designed to transport cargo, carry specialized payloads, or perform other utilitarian work. Trucks vary greatly in size, power, and configuration, but the vast majority feature body-on-frame construction ...

motorbikes A motorcycle (motorbike, bike, or trike (if three-wheeled)) is a two or three-wheeled motor vehicle steered by a handlebar. Motorcycle design varies greatly to suit a range of different purposes: long-distance travel, commuting, cruising, ...

and

bicycles A bicycle, also called a pedal cycle, bike or cycle, is a human-powered or motor-powered assisted, pedal-driven, single-track vehicle, having two wheels attached to a frame, one behind the other. A is called a cyclist, or bicyclist. Bic ...

), pets and consumer segments. These are then integrated with their partners' IT systems and business processes. The technology and platform used is modular and offered as a complete or part of the solution provided. A partnership between OCTO and

Telecom Italia Gruppo TIM, legally TIM S.p.A. (formerly Telecom Italia S.p.A.), also known as the TIM Group in English, is an Italian telecommunications company with headquarters in Rome, Milan, and Naples, (with the Telecom Italia Tower) which provides fixe ...

(TIM) to develop data-driven services for vehicles not yet connected to the mobile network was formed in December 2019. The first product launched from the partnership was the TIM BabyPad, a device to detect whether a child is in their car seat and make sure they are not left unattended. In May 2020, OCTO launched two new IoT products in response to the

COVID-19 Coronavirus disease 2019 (COVID-19) is a contagious disease caused by a virus, the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The first known case was COVID-19 pandemic in Hubei, identified in Wuhan, China, in December ...

pandemic A pandemic () is an epidemic of an infectious disease that has spread across a large region, for instance multiple continents or worldwide, affecting a substantial number of individuals. A widespread endemic (epidemiology), endemic disease wi ...

. Both designed to support the recovery back to normal life, OCTO AroundMe is a Bluetooth solution for distancing and OCTO PurePlace is a sanitation solution based on

nanotechnology Nanotechnology, also shortened to nanotech, is the use of matter on an atomic, molecular, and supramolecular scale for industrial purposes. The earliest, widespread description of nanotechnology referred to the particular technological goal o ...

developed by

NASA The National Aeronautics and Space Administration (NASA ) is an independent agency of the US federal government responsible for the civil space program, aeronautics research, and space research. NASA was established in 1958, succeeding t ...

Insurance Telematics

Risk Management, Claims Management, Anti-Theft,

eCall eCall (an abbreviation of "emergency call") is an initiative by the European Union, intended to bring rapid assistance to motorists involved in a collision anywhere within the European Union (and the UK post-Brexit). The aim is for all new cars ...

/bCall, Assistance Control Room

Smart Mobility

Fleet Telematics, Vehicle Sharing, Corporate Vehicle Sharing, Vehicle Renting, Carpooling, Ride Hailing

Smart Analytics

Analytics Analytics is the systematic computational analysis of data or statistics. It is used for the discovery, interpretation, and communication of meaningful patterns in data. It also entails applying data patterns toward effective decision-making. It ...

as a Service, Geographic Vehicle Flows, Engine Data Reporting, Vehicle Utilization Data, Data Driven Score

Digital Journey

Mobile App A mobile application or app is a computer program or software application designed to run on a mobile device such as a phone, tablet, or watch. Mobile applications often stand in contrast to desktop applications which are designed to run on d ...

Software Development Kit A software development kit (SDK) is a collection of software development tools in one installable package. They facilitate the creation of applications by having a compiler, debugger and sometimes a software framework. They are normally specific to ...

(SDK),

Application Programming Interface An application programming interface (API) is a way for two or more computer programs to communicate with each other. It is a type of software interface, offering a service to other pieces of software. A document or standard that describes how t ...

(API),

Widget toolkit A widget toolkit, widget library, GUI toolkit, or UX library is a library or a collection of libraries containing a set of graphical control elements (called ''widgets'') used to construct the graphical user interface (GUI) of programs. Most widg ...

Trademarks

* DriveAbility is based on actuarial science, it offers market-leading scoring through a combination of different behavioral and environmental elements with the goal of reducing risk. * Mobility Atlas is the result of vehicle flow analysis, for both incoming and outgoing traffic, within a specific geographic area. It considers cars as mobility sensors and is designed to supporting planning and operational activities conducted by cities, government authorities, utilities and mobility operators.

Sponsorship

* At the

Mugello The Mugello is a historic region and valley in northern Tuscany, in Italy, corresponding to the course of the River Sieve. It is located to the north of the city of Florence and includes the northernmost portion of the Metropolitan City of Fl ...

GP in 2015, OCTO became the title sponsor of

Pramac Racing Pramac Racing is a motorcycle racing team competing in the MotoGP and MotoE World Championships. The team was created in 2002 by Italian company Pramac. In 2005 Pramac Racing joined forces with Spanish d'Antin MotoGP to form "Pramac d'Antin" and ...

, renaming the number two Ducati team to OCTO Pramac Racing. * OCTO telematics became title sponsor on the British round of the

MotoGP Grand Prix motorcycle racing is the premier class of motorcycle road racing events held on road circuits sanctioned by the Fédération Internationale de Motocyclisme (FIM). Independent motorcycle racing events have been held since the start ...

in 2015. * In 2018 and 2019 OCTO was title sponsor of the

San Marino San Marino (, ), officially the Republic of San Marino ( it, Repubblica di San Marino; ), also known as the Most Serene Republic of San Marino ( it, Serenissima Repubblica di San Marino, links=no), is the fifth-smallest country in the world an ...

. * In 2019, the launch year of the full electric bike racing championship MotoE, OCTO was the title sponsor of the MotoE Pramac Racing Team. * OCTO was the 2019 title sponsor of the OCTO Bridgestone Cup “Di.Di.”, the disabled motorbike championship.

References

{{Reflist Vehicle telematics Intelligent transportation systems Internet of things companies Smart cities Companies based in Rome Italian companies established in 2002 Technology companies of Italy Multinational companies headquartered in Italy