Octo Telematics has invested $40m in an internet of things (IoT) project, dubbed the next generation platform, for the motor insurance sector. Octo says that its product is already fully live and operational, and will be particularly effective as the automotive sector develops and connected cars become more of a mainstream reality. The company is working with a number of partners including General Motors and Ford Motor Co on developing software that will allow vehicles to communicate wirelessly with each other through their on-board infotainment systems. The platform, which is operational, could be expanded to include health, home, pet, and on-demand insurance.
Octo Telematics has invested $40m in an internet of things (IoT) project, dubbed the next generation platform, for the motor insurance sector. The company is working with a number of partners including General Motors and Ford Motor Co on developing software that will allow vehicles to communicate wirelessly with each other through their on-board infotainment systems. The platform, which is operational, could be expanded to include health, home, pet, and on-demand insurance.