Jooycar, Octo Telematics join to improve Latam fleet safety

Multinational Octo Telematics and Chile-based insurtech Jooycar are teaming up to make fleet operations in Latin America more connected and safer, resulting in less costly fleets to insure. 

By having a connected fleet, more products can be made available. The objective of the alliance is to collect fleet data and then work on reducing car accidents by rewarding good drivers. 

Currently, the focus is on Chile and Peru, but plans call for expanding into Colombia and Mexico next, and Brazil thereafter, insurance news portal 100Seguro reported.

Vehicle theft is on the rise, and this has resulted in insurance premiums umping 70% in Chile last year (2022).  According to local news service MegaNoticias, only one in three vehicles are insured in the country.