Octo Telematics, a London-based provider of telematics for the auto insurance industry, has agreed to acquire the usage-based insurance assets of Willis Towers Watson Plc.

The usage-based insurance assets include Willis' DriveAbility solution and the DriveAbility Marketplace. Key Willis Towers Watson personnel, including its global telematics leader, Geoff Werner, will join the Octo team as part of the deal.

Following the transaction, Octo will form a strategic alliance with Willis on additional auto telematics opportunities to enhance the range of products and services of both companies.

Fabio Sbianchi is the CEO of Octo Telematics.