Octo Telematics (Octo), the UK-based global provider of telematics for the auto insurance industry, announced that it has completed its acquisition of the usage-based insurance (UBI) assets of Willis Towers Watson that was announced in October. This acquisition includes Willis Towers Watson’s DriveAbility solution and the DriveAbility Marketplace. Additionally, Geoff Werner, Global Telematics Leader, will […]
Usage-Based Insurance Projected to Grow to 142 Million Subscribers Globally by 2023
In 2015, close to 12 million consumers globally subscribed to this type of insurance, according to a new report from IHS Automotive, part of IHS, Inc. (NYSE:IHS). The number of consumer subscribers to UBI is expected to grow to 142 million globally by 2023, according to the IHS report. This specific type of automobile insurance […]