Thanks to Mastercard’s SessionM platform, OCTO will offer valuable incentives to more responsible drivers while increasing customer engagement and loyalty to insurance companies.
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MastercardMastercard and OCTO, a global leader in advanced telematics solutions and data analytics services for the insurance and automotive sectors, today announce a collaboration aimed at redefining the interaction between insurance companies and customers by encouraging safer driving behaviors through an innovative loyalty program.
Mastercard and OCTO join forces to promote responsible driving through loyalty programs.
The partnership involves the integration of Mastercard’s SessionM – a platform designed to support businesses in managing customer loyalty and engagement – with OCTO’s patented scoring models, which assess driving behavior using either physical devices (black boxes) or digital solutions (apps).
This agreement has a dual objective: for drivers, it provides tangible benefits such as discounts on auto, home, and travel insurance, as well as other rewards, in exchange for safe and responsible driving. For insurance companies, it enhances customer engagement and loyalty, reduces portfolio risk, and helps control costs through a continuous and interactive relationship with the insured.
The promotion of responsible driving behavior not only has a direct impact on road safety but also represents a significant contribution to environmental and social sustainability goals.
Luca Corti, Country Manager Italy, Mastercard, commented: “We are excited to collaborate with OCTO putting technology at the service of safer and more conscious mobility. Through our innovative solutions, we enable data-driven loyalty models that reward positive behavior and strengthen the relationship between businesses and customers. This partnership confirms Mastercard’s commitment to driving the evolution of key sectors of the economy, helping to create increasingly connected and value ecosystems.”
Corrado Sciolla, CEO of OCTO Group, adds: “The partnership with Mastercard strengthens our commitment to smarter and more sustainable mobility. Together, we are offering insurance companies a new, more proactive and engaging way to interact with their customers, by providing an effective tool to reward positive behavior, helping drivers improve road safety and reduce accidents and emissions. In a context where companies are increasingly focused on social and environmental goals, OCTO confirms its role as a strategic partner for responsible innovation in the entire insurance sector and in telematics applied to mobility.”
Thanks to its collaboration with Mastercard – a global leader in the loyalty sector, with over 1,400 client companies and a network of more than 900 specialists – SessionM will provide OCTO and its clients with a scalable and highly reliable SaaS platform capable of managing complex data and loyalty programs on a global scale. With over 350 billion loyalty points managed, 3 billion API calls annually, and 1.3 billion marketing impressions generated each year, Mastercard further strengthens its position in the insurance sector alongside innovative partners like OCTO.
Mastercard
Mastercard powers economies and empowers people in over 200 countries and territories worldwide. Together with our customers, we are building a sustainable economy where everyone can thrive. We support a wide range of digital payment solutions, making transactions secure, simple, smart, and accessible. Our technology and innovation, partnerships, and networks combine to offer a unique suite of products and services that help individuals, businesses, and governments reach their fullest potential.
www.mastercard.com
OCTO
For over 20 years, we have been developing integrated solutions that enable us to support our clients in seizing the opportunities offered by smart mobility and digital transformation. Thanks to an innovative approach based on Artificial Intelligence, we have developed advanced algorithms for accident detection, driving behavior analysis, claims management, and consumption optimization. These solutions allow us to meet the needs of key markets, such as insurance and mobility, with a strong focus on modularity and customization. Our scalable and modular data analytics platform delivers solutions for the Insurtech and mobility markets, helping partner companies transform the way they manage and grow their business. Today, OCTO serves over 6 million connected users and owns the world’s largest telematics database, with 610 billion kilometers of driving data and over 525,000 certified claims.
octotelematics.com
Source: OCTO
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