Octo Telematics has entered into a global partnership with Groupe Renault's finance company to provide its services and data analytics to its customers.
As part of its sales process, RCI Bank and Services will offer customers the option to include an Octo device in their car.
Octo will then use its big data analytics to develop a profile of each driver and vehicle, including producing a driving score, as well as monitoring the condition of the vehicle.
This will allow RCI Bank and Services to provide made-to-measure services based on each driver's driving profile.
It will also offer fleet management dashboards to B2B customers gathering both vehicle, driving behaviour and financial data.
Fabio Sbianchi, CEO of Octo, said: "The value of data is well understood across a range of industries, especially as consumers look to receive a tailormade and unique service, no matter the product.
"Insurers are already using telematics data and big data analytics tools to understand their customers as individuals and provide bespoke insurance policies.
"We’re very pleased to be working with RCI Bank and Services to help them get to know their drivers and develop a close and rewarding, mutually-beneficial relationship with them.
"The automotive industry is following other sectors by adopting technology in its customer service and this partnership is a great step forward.”
RCI Bank and Services will use the data provided by Octo to deliver a bespoke experience to each customer, and a complete set of vehicle usage base services including rewards for good driving behavior.
Based on the driver score, RCI Bank and Services and Octo will also be able to offer coaching on driving skills, as well as improved pricing on insurance premiums based on the usage-based insurance (UBI) model powered by telematics data.
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