Thanks to Mastercard’s SessionM platform, OCTO will offer valuable incentives to more responsible drivers while increasing customer engagement and loyalty to insurance companies.
Mastercard and OCTO, a global leader in advanced telematics solutions and data analytics services for the insurance and automotive sectors, announce a collaboration aimed at redefining the interaction between insurance companies and customers by encouraging safer driving behaviors through an innovative loyalty program.
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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).
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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.
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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.
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Source: businesswire
