Octo Telematics ("Octo"), a leading global provider of telematics and data analytics solutions for the auto insurance industry, and Guidewire Software, Inc. (NYSE: GWRE), a provider of software products to general insurers, today announced that Octo has joined Guidewire PartnerConnect™ as a Solution Partner. The companies also announced that Octo’s accelerator has successfully completed the Ready for Guidewire accelerator validation process and is eligible to use the Ready for Guidewire validation mark. This designates that the offering has been through a rigorous review process that supports readiness for integration with Guidewire InsuranceSuite™ products. Guidewire and Octo plan to expand their alliance, with Octo building additional accelerators for Guidewire customers over time.
Octo is providing a Ready for Guidewire accelerator to make it easier for any insurance company using Guidewire PolicyCenter® for policy administration to integrate with Octo’s solutions, reducing implementation time and effort, thereby lowering project costs. Insurers can stay focused on customer service and the business of insurance rather than the IT work surrounding insurance telematics integration. A majority of Octo’s global insurance partners already use or plan to use Guidewire, so the accelerator will facilitate the integrations between their UBI programs and Guidewire.
"Octo Telematics brings a unique offering to Guidewire PolicyCenter customers, enabling them to avoid implementation challenges typically associated with the integration of an insurance telematics program," said Nino Tarantino, CEO, Octo North America. "With Octo’s accelerator, both large and small insurance companies can quickly harness the power and value of a telematics program, and benefit from the data analysis of the largest and most experienced telematics provider in the world. As a result, insurers will have access to the power of the IoT to improve customer service, engagement, retention and loyalty."
Octo’s ‘Ready for Guidewire’ accelerator will continue to evolve and currently supports insurers by enabling:
Increased speed to market;
Seamless implementation for telematics and UBI (usage based insurance) programs; and
An instantly available, full suite of telematics tools: UBI, driving behavior analysis, vehicle health, and location based services.
"“The Ready for Guidewire program offers partner-built, Guidewire-validated accelerators that help reduce core system integration timeframes for our insurance customers," said Becky Mattick, director, Global Solution Alliances, Guidewire Software. "Octo has enormous experience in transforming motor insurance through behavioral, contextual and driving analytics. They can deliver powerful insight into driver risk, as well as value-added services such as crash and claims support, vehicle health and location-based services, that benefit both insurers and their policyholders. We are pleased to welcome Octo as an alliance partner and to provide Ready for Guidewire designation for the Octo Integration for PolicyCenter accelerator. We thank them for their participation in this program."