To improve telematics services for the US, Canadian vehicle insurance markets
Directed Electronics has signed a memorandum of understanding with Octo Telematics S.p.A., an insurance telematics provider in Europe, to develop telematics services for the US and Canadian vehicle insurance markets.
The European automotive insurance telematics market has expanded over the last several years with insurance companies offering consumers value-added services such as automatic crash response and usage-based insurance.
Telematics intends to increase opportunities for insurance companies and drivers through reduced risk, value-added services such as automatic crash response and accident damage management.
Germano Fanelli, CEO of Octo Telematics, said: Directed’s vast network of customers with installation capability, industry-leading technical support, and sizable logistics infrastructure will provide a powerful platform capable of accelerating our speed to market. We look forward to jointly working with insurance providers to further advance telematics offerings in North America.