PALO ALTO, Calif., Feb. 22, 2018 /PRNewswire/ -- Cloudera, Inc.
(NYSE: CLDR), the modern platform for machine learning and
analytics, optimized for the cloud, announced that Octo Telematics,
a global leader in telematics for insurance companies, is
introducing innovations for insurance by aggregating 186 billion
miles of driving data from connected cars and using Cloudera
Enterprise to predict and model driver risk. Utilizing machine
learning and analytics on Cloudera Enterprise, the Octo Telematics
platform can now deliver actionable insights and risk modeling to
over 100 insurance companies worldwide that enables them to
transform insurance including pricing, First Notice of Loss (FNOL),
and claims insights.
Click to Tweet: #Telematics leader @OctoTelematics transforms
auto insurance industry with @Cloudera #machine learning and
#analytics: http://bit.ly/2BH3nX6 #IoT
Octo Telematics' platform, built on Cloudera Enterprise,
aggregates over 11 billion new data points from 5.4 million
connected cars and sensors daily, creating one of the largest
connected-car subscribed installed bases across the globe. Every
relevant type of data—contextual data, driving data, behavioral
data, and crash data—is utilized to forecast individual driving
habits, improve crash notifications and response, evaluate crash
dynamics, and detect fraud.
"At Octo Telematics, we are using the power of IoT data
analytics to transform the auto insurance industry and essentially
be there for people at the moment they need help. With Cloudera, we
use IoT and machine learning to drive intelligence and predict
outcomes from billions of miles of driving data, and over 438,000
severe crashes from over five million cars – the largest
connected-car subscribed installed base in the world," said
Gianfranco Giannella, chief
operating officer at Octo Telematics. "With our new
Platform-as-a-Solution service offering, cloud is essential to us,
but due to regulatory requirements, we also need services
on-premises. Cloudera Enterprise natively supports a hybrid
environment, so we have the flexibility to run our data where we
need to at the lowest total cost. We have a platform for the
future."
Running data between cloud and on-premise environments with
Cloudera Enterprise, Octo is able to store, process and analyze
data reflecting over 20 million miles of driving per minute using
Apache Spark. The data captured includes many kinds of telematics
insights, including location, acceleration, braking, idling,
collisions and cornering.
Processed data is then made available to various analytics
algorithms that revolve around driver risk scoring models, pricing
algorithms, accident reconstruction, claims management, crash
alerts and analysis, driver behavior, risk modeling and vehicle
health – all of which are essential to improving the financial
performance of insurers and outcomes for consumers. By building
machine learning models on this massive data set, Octo can now
formulate more accurate predictions and risk models for individual
drivers. Plus, modelers can test new ideas and techniques two times
faster and refine on the fly to produce innovative products and
services — using data volumes never before possible.
"Octo Telematics needed the flexibility, agility, and scale to
run its machine learning risk models and predictive applications,
both in the cloud and on-premise, to meet service level and
economic goals," said Dave Shuman,
IoT and manufacturing industry leader at Cloudera. "Using Cloudera
Enterprise to replace a bespoke data platform, Octo has been able
to increase its capabilities to scale with the explosion of data
volumes and analytic workloads. With Cloudera, they have been able
to transform the automotive insurance industry, and these
capabilities translate into better outcomes for consumers and
underwriters."
Additional Resources
Customers today are increasingly
utilizing Cloudera Enterprise, which integrates with components
such as Apache Kudu and Apache Spark to drive real-time processing,
machine learning, and analytics on all of their IoT data, including
data in motion and data at rest.
- Check out the new Octo Telematics case study by research firm
Ovum
- Read the Octo Telematics success story on how they are using
IoT to revolutionize the insurance industry
- Learn more about Cloudera data management platform for IoT
- Listen to any of our onDemand webinars on IoT:
-
- Building a Next Generation Platform for Telematics and IoT
presented by Octo Telematics and Ovum
- An End-to-End Open Source Architecture for IoT presented
jointly with Red Hat
- Simplifying Real-Time Architectures for IoT with Apache
Kudu
- IoT-Enabled Predictive Maintenance provided jointly with Tata
Consultancy Services
- IoT - Data Management Trends, Best Practices & Key Use
Cases with Christian Renaud of 451
Research
About Octo Telematics
Octo is the number 1 global
provider of telematics and data analytics solutions for the auto
insurance industry. Founded in 2002, Octo is one of the pioneers of
the insurance telematics industry. Today, Octo is the largest and
most experienced insurance telematics company in the world,
transforming auto insurance through behavioral, contextual and
driving analytics for more than 100 insurance partners. Octo has
more than 5.4 million connected users and the largest global
database of telematics data, with over 186 billion miles of driving
data collected and 438,000 crashes and insurance events analyzed
(as of 31 December 2017). Octo
applies proprietary algorithms to this market-leading database to
deliver powerful new insights into driver risk, informing solutions
that benefit both auto insurance companies and policyholders. The
company is headquartered in London, with offices in Boston, Rome,
Stuttgart, Madrid, and Sao
Paulo. octotelematics.com
About Cloudera
At Cloudera, we believe that data can
make what is impossible today, possible tomorrow. We empower people
to transform complex data into clear and actionable insights. We
are the modern platform for machine learning and analytics
optimized for the cloud. The world's largest enterprises trust
Cloudera to help solve their most challenging business problems.
Learn more at cloudera.com.
Connect with Cloudera
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successes: cloudera.com/more/customers.html
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including, among other things, statements regarding the expected
performance and benefits of Cloudera's offerings. The words
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SOURCE Cloudera, Inc.