Telematics Update: The €405m sale of Octo Telematics to Renova Group was announced yesterday by former stakeholders Amadeus Capital Partners.
Octo Telematics, who have been an early pioneer in the insurance telematics space, relocated its sales and marketing operations from Rome to London last June, to take advantage of opportunities in the burgeoning UK telematics market and to also develop a synergy with the major motor insurance companies as they devise their telematics strategies.
This was the latest in a string of strategic moves that have contributed to an increase in turnover by 120% from 2010 to 2013. The company, which specialises in applications for insurance and transport companies, now boasts eight out of the world's largest car insurers as clients and is expected to have made a turnover in excess of €120m for 2013.
Andrew Pym, project director at Telematics Update said, ‘The acquisition of Octo Telematics is great news for this industry. It demonstrates that this market is set for huge growth and there are companies such as Amadeus Capital Partners who realise this potential’. Pym went on to say, ‘Octo have been a proud sponsor of our Insurance Telematics Europe conferences for the past 3 years and we are thrilled that is paid off handsomely for them’.
Telematics Update will hold the 4th annual Telematics Insurance Europe 2014 Conference & Exhibition in London this May (6-7th May, Novotel London West, UK).
Telematics Update has constructed an independently researched agenda for the Insurance Telematics Europe Conference & Exhibition, with 30+ key sessions and over 50 carefully selected insurance professionals from Allianz, Zurich, Microsoft, MoneySupermarket.com, Autoline, Young Marmalade, Thatcham, LV Insurance, FBD Insurance, Boston Consulting Group, Towers Watson, Ingenin, Comparethemarket.comand more.
At Insurance Telematics Europe 2014 they will explore the crucial topics that insurers face today, including:
· The Smartphone Proposition
· The Killer Value Added Services
· Build & Communicate Value to the Consumer
· UBI Gamification: The Next Level
· The Impact of Data Standards for UBI
· Underwriting for Fleets
For the complete Insurance Telematics Europe 2014 conference programme and speaker line-up visit the website: www.telematicsupdate.com/insurance-telematics-eu
Or contact the Telematics Update team at firstname.lastname@example.org
“This event was very useful in gathering the main players in one place allowing direct comparison of
products and services.” Aviva
“This event will become the essential annual conference to stay connected within insurance telematics.” Liberty Mutual
“The overall show was very informative, there was a lot of important information I took from it.” Vordur Insurance
Register before Friday 14th February via the secure link below to take advantage of a £300 saving on all conference passes https://secure.telematicsupdate.com/insurance-telematics-eu/register.php
About Telematics Update:
Telematics Update Conferences are the most prestigious in the industry. We produce the largest telematics events in North America, Europe & Asia, and attract the most influential speakers providing a rich environment for establishing strategic relationships and networking.
Conference Director | Telematics Update
T: (Global) +44 (0)20 7375 7599 | (UStf) 1 800 814 3459 ext 7599