Carrot Insurance helps key workers stay on the road

Carrot Insurance has announced further measures to help its customers during the COVID-19 crisis.

Carrot director Andrew Brown-Allan said the measures “recognise the incredible work many of our customers are doing to support their local communities, from critical NHS workers to care assistants, to customers who are helping to care for elderly relatives who are self-isolating.”

Andrew continued: “The insurance industry has been under a lot of pressure in recent weeks, but at Carrot we’re on the front foot and trying to do what we can to help proactively. With the support of our major insurer partners, we can give extra assistance to our customers who need their cars for essential work”.

The move follows Carrot’s decision earlier this week to support the “Stay at Home – Save Lives” initiative by giving additional rewards to their customers who don’t drive at all over the Easter week. Andrew said: “It’s equally important to offer support to our customers who do need to drive in order to help other people, especially as we have over 10% of our insured customers who are identified as key workers under Government guidance.”

The measures being offered by Carrot include:

  • Free increases in annual mileage allowances – intended to support those that are having to travel further to undertake critical work, such as NHS nurses and volunteers working extra shifts
  • Automatic cover for customers who are doing voluntary work in their cars
  • Free commuting cover for workers who usually take public transport to work, but now need to drive and don’t have the required commuting cover
  • Automatic cover for workers who need to get to multiple places of work during COVID-19
  • Help for financially vulnerable customers
  • Measures to help customers who are stuck abroad with their car and can’t get back to the UK

Andrew said: “The insurance industry has been criticised for inflexibility, but our approach is to continuously look for ways to make life easier for our customers wherever possible.”

“We can do this because all our customers are using telematics devices which provide us with data that helps us identify where support is needed – for example, we had a case earlier this week where we could see that an NHS worker running was running out of miles, so we topped her up at no extra cost. We added some emotional intelligence to our artificial intelligence. The crisis has demonstrated that traditional insurance can not only be flat-footed when the situation is changing daily, but most insurers are also working blind – they simply don’t connect with their customers like we do.”

He added: “The COVID-19 crisis is going to change the way that consumers look at motor insurance. In future, they simply won’t want to pay for cars that sit on driveways for most of the week. I’m confident we’ll see a surge in demand for usage-based insurance products, like the ones designed by Carrot, better suited for the post-pandemic changes in mobility that we’re certain to see. It might just be that it’s the most unlikely of circumstances – a global pandemic – that finally drives UBI into the mass market.”

 


About Carrot Insurance (Carrot)

Carrot Insurance (Carrot) is a wholly-owned subsidiary of Trak Global Group (TGG). In the UK, Carrot is an award-winning B2C telematics insurance provider, but the underpinning platform has now been made available internationally to enable any organisation seeking to take a UBI proposition to market to do so quickly and with a high degree of configurability.

By using telematics hardware and smartphone apps to provide feedback, messaging and rewards to incentivise better driving behaviours, the Carrot approach is proven to help reduce claims frequency – this in turn reduces insurance premiums for policyholders and increases customer satisfaction, and reduces losses for insurers.

More info at www.carrotinsurance.com and www.ims.tech.

Contact: Ben Welsh  07568 382040

Covid-19: Carrot Insurance rewards young drivers for staying at home

Carrot, the young driver insurance provider that uses black box technology to record driving patterns and reward safer driving, is incentivising thousands of young drivers to continue to leave their cars at home during the coronavirus lockdown.

Carrot director Andrew Brown-Allan said the company was responding to worrying news of a recent, sudden increase in the number of miles driven, which has led to Dr Yvonne Doyle, Medical Director for Public Health England, to urge people not to drive their cars.

However, Carrot’s data shows that the UK’s young drivers seem to be following the government guidelines and not driving unless absolutely necessary.

Brown-Allan reported that in the 24hrs following the lockdown announced by the PM on 23 March, the average number of daily miles driven by Carrot’s customers fell by 38% to 8 miles. Six days later, on 29 March, the average daily miles driven by Carrot customers had fallen to just 4 miles, compared to 13 miles on the day that lockdown was announced – a reduction of 70% across that period.

Government data showed that despite a gradual fall in motor usage to less than a third of the usual average by Sunday 29 March, overall vehicle mileage in the UK jumped by 10% to 37% on 30 March. (i)

Carrot’s data analytics found the average number of daily miles driven per Carrot customer also increased modestly from the 29th to 30th March (up from 4 to 6 miles average per customer) – but in that same period over half of all Carrot customers did not use their cars at all (i.e. recorded zero miles).

Brown-Allan continued “We want to encourage our customers to reduce their car use further still, so in the period Monday 6 April to Monday 13 April (Easter Monday) we will issue double rewards to all customers with a ‘New Driver by Carrot’ policy who leave their cars at home and don’t drive at all during that seven day period.”  

“They normally earn weekly rewards for demonstrating that they are safe drivers, and this will continue for those making essential trips, but in our view the best way to keep themselves and others safe during lockdown is to leave their cars undriven.”

“There is intense scrutiny on the insurance industry including criticism of the way it has responded to the COVID-19 crisis, but this new Carrot initiative is just one of a number of important contributions we are making on an ongoing basis to put technology to good use and keep road users safe, and at home.”  

 



About Carrot Insurance (Carrot)

Carrot Insurance (Carrot) is a wholly-owned subsidiary of Trak Global Group (TGG). In the UK, Carrot is an award-winning B2C telematics insurance provider, but the underpinning platform has now been made available internationally to enable any organisation seeking to take a UBI proposition to market to do so quickly and with a high degree of configurability.

By using telematics hardware and smartphone apps to provide feedback, messaging and rewards to incentivise better driving behaviours, the Carrot approach is proven to help reduce claims frequency – this in turn reduces insurance premiums for policyholders and increases customer satisfaction, and reduces losses for insurers.

 

More info at www.carrotinsurance.com and www.ims.tech.

COVID-19 Official Statement – Bulletin 1 (17.03.20)

At Trak Global Group, the health and wellbeing of our customers, employees and suppliers is our top priority.

That continues to be our focus as we manage our response to the COVID-19 coronavirus that has proliferated globally.

In light of the outbreak, we have put in place specific management procedures to ensure that we continue to be an effective partner and employer, and we have reviewed our business resilience and continuity plans against the current and emerging situation, as well as advice from the governments in territories where we have operations or people.

Our customers’ ability to successfully transact business is critically important. That’s why we’re working to avoid disruptions while also acting responsibly to do what we can to prevent further spread of the coronavirus. We continue to closely monitor and assess this fast-changing situation, and we will diligently communicate with affected customers about any potential disruption that could arise as a result of COVID-19.


Safeguarding steps that we’re taking include:

  • Holding daily reviews of our approach amongst our COVID-19 Critical Incident Working Party, and sending daily updates to all Trak Global Group staff when appropriate
  • Working with our manufacturing and operational partners on assurance of continued supply and service provision
  • Equipping our employees to work from home where needed
  • Suspending all international travel and encouraging the minimisation of domestic travel; all meetings will be conducted via online collaboration tools (such as Microsoft Teams) wherever possible
  • Increasing use of disinfectant, hand sanitizers and other hygiene measures at our sites in the UK and Canada
  • Adhering to local government and public health authority recommendations on isolation/self-quarantining where symptoms akin to those presented by COVID-19 are present, or exposure is likely.
  • If you have any specific questions about how Trak Global Group is addressing this issue, please get in touch with your usual company representative.

Stay healthy.

The Trak Global Group Team

Amerisure and IMS Partner for Commercial, Usage-Based Insurance Telematics Program

Farmington Hills, MI and Waterloo, ON, Canada – March 11, 2020 – Amerisure, an elite, US-based property and casualty (P&C) insurance company, and IMS (Insurance & Mobility Solutions), a global telematics solutions provider to insurers, mobility operators, enterprises, and governments, have teamed up on a commercial fleet usage-based insurance (UBI) telematics program in Michigan.

While many commercial lines insurers have been negatively impacted in recent years by inadequate rates, increased claims frequency, spiking severity trends, and increasing premium leakage, Amerisure has taken a proactive approach. Under this agreement, IMS will provide Amerisure with commercial fleet telemetry technology that collects data and delivers a driver behavior-based score for analysis, provides recommendations for participant improvement, and enables credits toward insurance premiums based on IMS’s scoring model.

“Our premium savings approach is unique because it focuses on how fleet drivers behave, rather than the distance they drive,” said Kevin Clary, vice president of risk management at Amerisure. “We believe this will lead to more impactful reductions in losses and will keep business owners motivated to participate in the program and improve their fleets.  We are proud to be one of the first commercial insurers to utilize this approach.”

This program is just one of Amerisure’s FleetAlliance® offerings, which includes numerous tools and resources to improve fleet safety. Policyholders can select services such as dash cams, cellphone-blocking technology, discounted motor vehicle reports, driver behavioral assessments, and more.

“The IMS Commercial UBI Telematics solution provides Amerisure with data-driven insights that improve underwriting and overall profitability,” said Lorie Goodmann, chief revenue officer at IMS.  “In turn, fleet managers get the necessary tools that positively influence driving behavior. It’s a win-win proposition for all involved.”

The UBI telematics program officially launched the first week in March. Amerisure and IMS look forward to sharing updates and data regarding performance as it progresses.

 



About IMS (Insurance & Mobility Solutions)

IMS (Insurance & Mobility Solutions), part of Trak Global Group (TGG), is a global provider of connected car solutions, services, and analytics to insurers, mobility operators and governments. IMS is the developer of the cloud-based IMS DriveSync® connected car platform which has received industry acclaim for its ability to offer customers a data source-agnostic, multi-device strategy for service provision versus a single focused technology approach.
More info at www.ims.tech

 

About Amerisure Insurance

Amerisure is an insurance organization charged with creating exceptional value for its Partners For Success® agencies and policyholders. As an A rated (Excellent) property and casualty insurance company licensed in 50 states, Amerisure provides a comprehensive line of insurance products to protect businesses focused in construction, manufacturing and healthcare through strategically located Core Service Centers.
For more information, visit www.amerisure.com.

Ed Rochfort Brings Successful UBI Track Record to IMS as Chief Product Officer

IMS changes also include brand extension across Trak Global Group’s worldwide insurance and mobility B2B divisions, and the launch of a Boston satellite office.


Boston, MA — February 11, 2020

IMS, a subsidiary of Trak Global Group (TGG) and one of the world’s top three providers of connected car data solutions to insurers, mobility operators and governments, is pleased to announce that Ed Rochfort, co-founder of pioneering usage-based insurance (UBI) business Carrot Insurance (Carrot), is joining IMS as Chief Product Officer.

Rochfort’s appointment coincides with TGG’s decision to extend the IMS brand internationally across its Insurance and Mobility divisions. This move reflects ongoing changes in the market, in which shifting patterns in mobility, such as the rise of ride sharing, car clubs, and connected car technologies, are converging with the evolution and digitization of auto insurance.

IMS, the Waterloo, Ontario-based company acquired by TGG in December 2018 which was formerly known as Intelligent Mechatronic Systems, will be rebranded with immediate effect as IMS – Insurance & Mobility Solutions. Consequently, Trak Global will cease to operate as a trading brand in Europe, but TGG will remain as the international parent company to both IMS and the UK-based Carrot.

“We want to simplify our market approach through a single B2B brand that speaks with a unified voice to our diverse customer base, and, as we enter a new decade, it feels like the perfect opportunity to make this change,” said Nick Corrie, Chief Executive Officer for TGG. “At the same time, having co-founded Carrot, Ed’s move into the Chief Product Officer role at IMS will unlock eight years of unrivalled market experience and actionable insight, and put it straight into the hands of our customers.”

“U.S. insurers are demonstrating a real appetite for harnessing learnings from the development of Carrot in the UK – from the driver scoring algorithms that have been engineered using real-world collision and claims data to how we’ve been able to drive engagement, behavior change, and loss ratio improvement by leveraging the power of reward,” said Rochfort. “In my new role, I’ll be helping IMS’s customers across both insurance and mobility to access our capabilities and build solutions that deliver needle-moving outcomes.”

IMS recently announced that the highly configurable, modular platform that is the foundation of Carrot in Europe is now available to North American insurer customers. Many of IMS’s insurer customers are located in the U.S., and, as a result, the company has also confirmed that it will be opening a satellite office in Boston, MA.

“Not only is Boston my hometown and a fantastic city, it’s a hotbed of insurtech activity, and has true insurance heritage,” said Nino Tarantino, CEO (Americas) for IMS. “It makes perfect sense as the location for an additional regional base from which we can better service and grow our client base in the U.S.”

 


  

About Trak Global Group (TGG)

Trak Global Group (TGG) is the UK-based holding company and owner of IMS (Insurance & Mobility Solutions), a global provider of connected car solutions, services, and analytics for insurers, mobility operators and governments, and Carrot Insurance (Carrot), a B2C telematics insurance broker in the UK and digital insurance platform available to insurers internationally. More info at www.trakglobalgroup.com

 

About IMS (Insurance & Mobility Solutions)

IMS (Insurance & Mobility Solutions), part of Trak Global Group (TGG), is a global provider of connected car solutions, services, and analytics to insurers, mobility operators, OEMs and governments. IMS is the developer of the cloud-based IMS DriveSync® connected car platform which has received industry acclaim for its ability to offer customers a data source-agnostic, multi-device strategy through which a multitude of B2B and B2C propositions to be taken to market. More info at www.ims.tech.

 

About Carrot Insurance (Carrot)

Carrot Insurance (Carrot) is a wholly-owned subsidiary of Trak Global Group (TGG). In the UK, Carrot is an award-winning B2C telematics insurance provider, but the underpinning platform has now been made available internationally to enable any organization seeking to take a UBI proposition to market to do so quickly and with a high degree of configurability. By using feedback, messaging and rewards to incentivize better driving behaviors, the Carrot approach is proven to help reduce claims frequency – this in turn reduces insurance premiums for policyholders, increases customer satisfaction, and drives carrier profitability. More info at www.carrotinsurance.com and www.ims.tech.

 

Media Contact:

For UK & European media enquiries, please contact:

Ben Welsh
Certus Communications
benwelsh@certuscc.com
(+44) 07568 382040

 

For North American media enquiries, please contact:

Jennifer Overhulse
St. Nick Media Services
jen@stnickmedia.com
(+1) 859-803-6597

IMS Brings Carrot UBI Platform to North American Insurers

Approach focused on engagement and reward already proven to deliver increased customer participation, better insurance outcomes, and safer drivers.

Waterloo, Ontario, Canada and Boston, MA — January 21, 2020 

IMS, a subsidiary of Trak Global Group (TGG), one of the world’s top three providers of connected car data solutions to insurers, mobility operators and governments, is pleased to announce the availability in North America of the (usage-based insurance) UBI platform on which the award-winning Carrot Insurance (Carrot) program is built.

Using this platform, IMS will enable U.S. and Canadian insurers to rapidly scale next-generation UBI programs that go beyond the common approach of offering motorists discounts in exchange for sharing limited driving data. Partners will also have full access to eight years of in-market experience, insights, and validated learnings in driver scoring (informed by real-world claims data), engagement, and reward, as well as the effective use of telematics data within claims.

The highly configurable, modular platform is compatible with telematics data across all device types, from plug-in hardware to mobile apps and embedded telemetry within vehicles. In addition to underpinning Carrot, the platform has been adopted by numerous insurers, such as RSA, Zurich, and Aviva, and auto manufacturers, including Volkswagen and Fiat.

IMS is led in North America by insurance telematics pioneer, Nino Tarantino, who joined the company from Octo Telematics North America shortly after it was acquired by UK-based TGG in December 2018.

“The auto insurance market in North America is very competitive, and UBI has provided an opportunity for insurers to differentiate, while enabling improved risk selection,” said Nino Tarantino, CEO of IMS (Americas). “Insurers must now begin to focus on using telematics data to effect positive behavior change, drive down accident frequency, improve loss ratios and generate ROI from their programs. By giving our partners access to the full breadth of our insights harvested from Carrot and providing them the same tools that helped deliver an accident frequency reduction of over 40% in other geographical markets, we believe it is possible for our insurer partners to see double-digit improvements to their combined operating ratios. No other solution provider in the market has access to the leverage that IMS’s Carrot experience provides.”

In addition to the engagement and reward system at the heart of the platform, which has traditionally delivered increased customer interaction and driver safety – with more than half of policyholders checking driving feedback daily – North American insurers can also benefit from IMS’s expertise using telematics data to improve the claims process. The tools and expertise embodied within IMS’s Claims as a Service (CaaS) offering have already seen global composite insurers, like Zurich, achieve as much as a 10-point improvement in combined operating ratio (COR) through more efficient claims resolution.

“UBI provides insurers with more detailed information about their customers than ever before and will allow for rating systems to accurately reflect customers’ driving ability over time while providing a positive customer experience through increased engagement and reward programs,” said Greg Donaldson, senior analyst at Aite Group. “The race for effective UBI offerings in North America has started and insurers ignoring this trend stand to fall behind as the competition forges ahead. Insurers will need to find experienced partners to help them develop and integrate the right plan to ensure success.”

For U.S. and Canadian-based insurers seeking additional detail, please contact IMS at: https://www.intellimec.com/contact-us

 


  

About Trak Global Group (TGG)

Trak Global Group (TGG) is the UK-based holding company and owner of IMS (Insurance & Mobility Solutions), a global provider of connected car solutions, services, and analytics for insurers, mobility operators and governments, and Carrot Insurance (Carrot), a B2C telematics insurance broker in the UK and digital insurance platform available to insurers internationally. More info at www.trakglobalgroup.com

 

About IMS (Insurance & Mobility Solutions)

IMS (Insurance & Mobility Solutions), part of Trak Global Group (TGG), is a global provider of connected car solutions, services, and analytics to insurers, mobility operators, OEMs and governments. IMS is the developer of the cloud-based IMS DriveSync® connected car platform which has received industry acclaim for its ability to offer customers a data source-agnostic, multi-device strategy through which a multitude of B2B and B2C propositions to be taken to market. More info at www.ims.tech.

 

About Carrot Insurance (Carrot)

Carrot Insurance (Carrot) is a wholly-owned subsidiary of Trak Global Group (TGG). In the UK, Carrot is an award-winning B2C telematics insurance provider, but the underpinning platform has now been made available internationally to enable any organization seeking to take a UBI proposition to market to do so quickly and with a high degree of configurability. By using feedback, messaging and rewards to incentivize better driving behaviors, the Carrot approach is proven to help reduce claims frequency – this in turn reduces insurance premiums for policyholders, increases customer satisfaction, and drives carrier profitability. More info at www.carrotinsurance.com and www.ims.tech.

 

Media Contact:

 

For UK & European media enquiries, please contact:
Ben Welsh
Certus Communications
benwelsh@certuscc.com
(+44) 07568 382040

 

For North American media enquiries, please contact:
Jennifer Overhulse
St. Nick Media Services
jen@stnickmedia.com
(+1) 859-803-6597

IMS Demonstrates Insurance Telematics First: 42% Crash Reduction and 7% Combined Ratio Improvement Using Carrot Insurance

IMS, the insurance telematics technology arm of Trak Global Group (TGG) is now positioned to offer North American and European insurers unprecedented access to the learnings from driver data via TGG’s award-winning Carrot Insurance brand.

Carrot’s direct interaction with its installed customer base has driven innovative product development, including the latest telematics smartphone based “Better Driver” app, which recently won the prestigious 2019 UK Insurance Times Technology and Innovation Award for Best Customer Mobile app.

“Carrot’s award-winning technology has modified driver behavior in a positive way, and we are eager to make our learnings accessible to insurers,” said Nino Tarantino, CEO- Americas, IMS.

Accessing this critical data will enable insurers to:

  • Improve policyholder engagement
  • Offer a reward platform that builds loyalty
  • Motivate safer driving behavior
  • Realize the positive impact on combined ratios

“We have developed and tested our insurance telematics propositions with our own Carrot customers so our insurer partners don’t have to,” Tarantino continued.  “No other telematics service provider has this kind of direct-to-policyholder experience and insight, but we do through Carrot, and we want to share what we have learned with the insurance companies we work with.”

Carrot, which launched in 2012, has since overseen a 42% reduction in the number of accidents among its customer base, thanks to its pioneering technology and an active risk management program, including rewards for good driving, which has turned the insurance experience on its head for policyholders.

Carrot’s policy has also built customer loyalty. The company has returned $5M to customers during the past seven years and the rewards program, in turn, offers a built-in incentive for consumers to check their status and driving feedback.  In doing so, frequently, consumers drive better and safer.

“Carrot’s telematics program has made a previously unprofitable market segment for us profitable again,” said Ed Rochfort, Managing Director of Carrot Insurance. “By analyzing telematics data we’ve been able to dramatically improve our risk pricing while reducing the cost of claims. A huge win by all accounts.”

“We’re making big improvements in reducing the cost of motor claims for our insurer clients, saving them time and money by providing indisputable proof of what actually happened in an incident. We believe Carrot’s claims data analytics has reduced CORs for our insurer partners by 7.7%,” Tarantino said. “In turn, our insurance customers are using these same insights from Carrot to create their own digital insurance strategies.”

For further detail on the Carrot difference, insurers can download IMS’ Carrot case study to access learnings and insights from this award-winning offering: https://ims.tech/resources/carrot-insurance-rewards-program-case-study/

 


  

About Trak Global Group (TGG)

Trak Global Group (TGG) is the UK-based holding company and owner of IMS (Insurance & Mobility Solutions), a global provider of connected car solutions, services, and analytics for insurers, mobility operators and governments, and Carrot Insurance (Carrot), a B2C telematics insurance broker in the UK and digital insurance platform available to insurers internationally. More info at www.trakglobalgroup.com

 

About IMS (Insurance & Mobility Solutions)

IMS (Insurance & Mobility Solutions), part of Trak Global Group (TGG), is a global provider of connected car solutions, services, and analytics to insurers, mobility operators, OEMs and governments. IMS is the developer of the cloud-based IMS DriveSync® connected car platform which has received industry acclaim for its ability to offer customers a data source-agnostic, multi-device strategy through which a multitude of B2B and B2C propositions to be taken to market. More info at www.ims.tech.

 

About Carrot Insurance (Carrot)

Carrot Insurance (Carrot) is a wholly-owned subsidiary of Trak Global Group (TGG). In the UK, Carrot is an award-winning B2C telematics insurance provider, but the underpinning platform has now been made available internationally to enable any organization seeking to take a UBI proposition to market to do so quickly and with a high degree of configurability. By using feedback, messaging and rewards to incentivize better driving behaviors, the Carrot approach is proven to help reduce claims frequency – this in turn reduces insurance premiums for policyholders, increases customer satisfaction, and drives carrier profitability. More info at www.carrotinsurance.com and www.ims.tech.

 

Media Contact:

 

For UK & European media enquiries, please contact:
Ben Welsh
Certus Communications
benwelsh@certuscc.com
(+44) 07568 382040

 

For North American media enquiries, please contact:
Jennifer Overhulse
St. Nick Media Services
jen@stnickmedia.com
(+1) 859-803-6597

Carrot Insurance wins ‘Best Customer App’ at Insurance Times Tech & Innovation Awards

Carrot Insurance, part of Trak Global Group, has won the ‘Best Customer App’ at the Insurance Times Tech & Innovation Awards in recognition of its Better Driver app. The judges highlighted Carrot’s focus on ensuring an outstanding customer experience whilst delivering significant loss ratio benefits for its insurer partners. The Better Driver app, built by Trak Global Group and launched in the UK in 2015, enables less-experienced drivers to access cheaper premiums by measuring driving data and influencing safer driving through regular rewards and tailored engagement.

Ed Rochfort, Managing Director of Carrot Insurance, says:

“We’re delighted the Better Driver app has been recognised at these prestigious awards and are committed to continue delivering the best customer experiences and the best results for our insurer partners. Thanks to our policyholders, partners and team we have been able to build one of the leading UBI apps in the world and have a real effect on road safety by reducing accidents and making roads safer, which is the driver behind everything we do.”

Carrot Insurance, which in 2015 won the Prince Michael International Road Safety Award after demonstrating its customers had 42% fewer accidents than young drivers with traditional car insurance policies, has also previously won awards in motor broking best practice, claims and customer centricity.

Leon Hurst appointed CEO, Mobility at Trak Global Group

Leon Hurst has joined Trak Global Group (TGG) to spearhead the Group’s international growth plans in the automotive and mobility sectors. He begins his new role as CEO, Mobility with immediate effect and will report to Group CEO Nick Corrie.

Leon, formerly a Commercial Officer at an automotive SaaS business JATO Dynamics, Head of Product Management for Nokia and Head of Product Marketing (Digital & Connected Car) for Jaguar Land Rover, is the company’s second senior hire since private equity house Three Hills Capital Partners (THCP) took a minority stake in TGG earlier this month. According to Nick Corrie, his arrival is a statement of intent from the Group to build a dominant position in connected car data solutions in the UK, Europe and North America.

Nick said: “Leon is a fantastic addition to our team. He is a rare breed in having international experience at a senior level in both telecoms and automotive – a powerful combination as the level of in-vehicle connectivity continues to grow at a rapid rate and these industries show signs of convergence.”

“Leon’s task will be to both deepen existing partnerships among our mobility and auto OEM customers and develop new ones. There’s an ecosystem of genuine opportunity forming around embedded telemetry and value-adding connected car services, and we believe we are ideally placed to play a pivotal role in helping our customers across insurance and mobility to leverage the value from this.”

Leon said: “Vehicle manufacturers have long acknowledged that there’s inherent value in connected car data for mobility operators and insurers, but there remains the challenge of how to effectively engage and convert the data into value adding services in adjacent markets. Given that the OEMs face more pressing challenges – like completing the journey to electrification, autonomy and the evolution of retail – it’s businesses like Trak Global Group that can bridge the gap and enable all parties to apply connected car data in a practical, commercial but innovative way.”

He added: “Growth will define my task at TGG. On the back of our investment from Three Hills, we want to increase the scale of our connected service asset base exponentially during the next two/three years, with sustainable medium-term growth. I’m joining an incredibly strong leadership team, with genuine customer focus and a clear strategy, so I’ll be converting that strategy into action – across product, service and client acquisition.”

Hurst’s appointment follows less than a week after the hiring of Nino Tarantino, former CEO of Octo North America, as CEO of IMS (Americas), to spearhead the group’s international growth plans within the connected and usage-based insurance markets.

 


 

About Leon Hurst

Prior to joining Trak Global Group, Leon was Chief Commercial Officer for JATO Dynamics Ltd, a UK-based automotive business intelligence solutions business. He graduated from Trinity College Dublin and began his career as a software engineer before joining telecoms giant Nokia in a Product Management role in 1999. In 2006 he joined Motorola as Global Programme Manager, Smartphones, before re-joining Nokia between 2008-2011. Leon then spent six years at Jaguar Land Rover, concluding with a role as Head of Product Marketing for Range Rover Velar, Jaguar F-PACE and F-TYPE.

 

About Trak Global Group (TGG)

Trak Global Group (TGG) is the UK-based holding company and owner of IMS (Insurance & Mobility Solutions), a global provider of connected car solutions, services, and analytics for insurers, mobility operators and governments, and Carrot Insurance (Carrot), a B2C telematics insurance broker in the UK and digital insurance platform available to insurers internationally. More info at www.trakglobalgroup.com

 

About IMS (Insurance & Mobility Solutions)

IMS (Insurance & Mobility Solutions), part of Trak Global Group (TGG), is a global provider of connected car solutions, services, and analytics to insurers, mobility operators, OEMs and governments. IMS is the developer of the cloud-based IMS DriveSync® connected car platform which has received industry acclaim for its ability to offer customers a data source-agnostic, multi-device strategy through which a multitude of B2B and B2C propositions to be taken to market. More info at www.ims.tech.

 

About Carrot Insurance (Carrot)

Carrot Insurance (Carrot) is a wholly-owned subsidiary of Trak Global Group (TGG). In the UK, Carrot is an award-winning B2C telematics insurance provider, but the underpinning platform has now been made available internationally to enable any organization seeking to take a UBI proposition to market to do so quickly and with a high degree of configurability. By using feedback, messaging and rewards to incentivize better driving behaviors, the Carrot approach is proven to help reduce claims frequency – this in turn reduces insurance premiums for policyholders, increases customer satisfaction, and drives carrier profitability. More info at www.carrotinsurance.com and www.ims.tech.

 

Media Contact:

 

For UK & European media enquiries, please contact:
Ben Welsh
Certus Communications
benwelsh@certuscc.com
(+44) 07568 382040

 

For North American media enquiries, please contact:
Jennifer Overhulse
St. Nick Media Services
jen@stnickmedia.com
(+1) 859-803-6597

Nino Tarantino Joins Trak Global Group as CEO of IMS – Americas

Trak Global Group [‘TGG’], one of the world’s leading telematics technology companies with operations in the UK, Europe, and North America, has appointed Nino Tarantino CEO of IMS (Americas). The hire is a key next step in TGG’s rapid-growth strategy in North America. It follows the company’s December 2018 acquisition of IMS, a top-three telematics business in North America and, in September this year, investment into the Group of over 50m USD from Three Hills Capital Partners.

IMS, the insurance solutions arm of TGG, provides complete end-to-end solutions that enable insurers and their customers to benefit from usage-based insurance (UBI) and extract value from telematics data right across the value-chain – from customer acquisition and risk management through rewards, customer engagement and claims.

Reporting to Bob Skerrett, CEO for IMS’s insurance solutions division on a global basis, Tarantino will drive the company’s growth in the North American market. He brings more than two decades of experience in the global telecommunications industry, chiefly growing companies and developing strategic business operations, and comes to TGG with a recent track record in insurance telematics.

Most recently, Tarantino was the CEO of Octo Telematics North America. He has won numerous awards, including 2018 Influencer of the Year at TU Automotive Detroit. Prior to Octo, Tarantino held leadership roles in the global telco and space industries with Telecom Italia, Iridium, the first satellite phone company, and others.

“We are in extremely good hands with Nino accelerating our growth plans for North America,” said Nick Corrie, Group CEO and founder of TGG. “Nino’s appointment is a critical move in our plan to exponentially increase our global scale and, specifically, grow our North American presence. He brings unprecedented experience innovating and building connected, data-driven technology solutions for the insurance industry, and we know he is the right leader to deliver further success for our company and its customers.”

 “I have been privileged to build a record of success in the insurtech space as it dynamically changes the landscape for insurance carriers and their policyholders,” said Nino Tarantino. “The opportunity to join TGG at such an exciting point in its growth story was one I was delighted to accept. The company has delivered outstanding results and built incredibly strong partnerships with its customer base. I look forward to putting my experience into practice as we embrace the next chapter.”

 


 

About Nino Tarantino

Nino Tarantino joins IMS as CEO (Americas) after serving as CEO of North America for Octo Telematics from 2011- 2018. An insurance telematics industry leader, having grown the company from inception to more than $70M, Nino was named Influencer of the year at the 2018 Telematics Detroit Awards.

Born in New York and raised in Naples, Italy, Nino earned his Master’s in Telecommunications Engineering in Rome and began his career with Telecom Italia. He later held management positions with Iridium, Anoto/Ericsson and Acotel. Today, Nino lives in Boston with his family of five, yet remains a devoted Napoli soccer fan. To learn more about his career and accomplishments: linkedin.com/in/ninotarantino

 

About Trak Global Group (TGG)

Trak Global Group (TGG) is the UK-based holding company and owner of IMS (Insurance & Mobility Solutions), a global provider of connected car solutions, services, and analytics for insurers, mobility operators and governments, and Carrot Insurance (Carrot), a B2C telematics insurance broker in the UK and digital insurance platform available to insurers internationally. More info at www.trakglobalgroup.com

 

About IMS (Insurance & Mobility Solutions)

IMS (Insurance & Mobility Solutions), part of Trak Global Group (TGG), is a global provider of connected car solutions, services, and analytics to insurers, mobility operators, OEMs and governments. IMS is the developer of the cloud-based IMS DriveSync® connected car platform which has received industry acclaim for its ability to offer customers a data source-agnostic, multi-device strategy through which a multitude of B2B and B2C propositions to be taken to market. More info at www.ims.tech.

 

About Carrot Insurance (Carrot)

Carrot Insurance (Carrot) is a wholly-owned subsidiary of Trak Global Group (TGG). In the UK, Carrot is an award-winning B2C telematics insurance provider, but the underpinning platform has now been made available internationally to enable any organization seeking to take a UBI proposition to market to do so quickly and with a high degree of configurability. By using feedback, messaging and rewards to incentivize better driving behaviors, the Carrot approach is proven to help reduce claims frequency – this in turn reduces insurance premiums for policyholders, increases customer satisfaction, and drives carrier profitability. More info at www.carrotinsurance.com and www.ims.tech.

 

Media Contact:

 

For UK & European media enquiries, please contact:
Ben Welsh
Certus Communications
benwelsh@certuscc.com
(+44) 07568 382040

 

For North American media enquiries, please contact:
Jennifer Overhulse
St. Nick Media Services
jen@stnickmedia.com
(+1) 859-803-6597

IMS owner Trak Global Group completes significant minority investment from Three Hills Capital Partners

  • New growth capital investment of over $50m USD will accelerate the development of new products and services via IMS’ DriveSync 6 platform, benefitting the Group’s clients across insurance, mobility, automotive OEMs and governments.
  • Company confirms that its focus will be on supporting rapid growth in the North American territory; also considering further acquisition activity.
  • IMS now the lead brand for the Group’s international business activities within the insurance market. The company provides complete end-to end services that insurers need in order to leverage the benefits of usage-based insurance (UBI) and extract value from telematics data across the entire value-chain, from customer acquisition and risk management through rewards, engagement and claims remediation.

London, UK: Trak Global Group [‘TGG’], one of the world’s leading telematics technology companies with operations in the UK, Europe and North America, has announced today that Three Hills Capital Partners [‘THCP’] is to acquire a significant minority stake in the business. The deal comes less than a year after TGG acquired IMS, one of North America’s three leading telematics solution providers.

The combined Group business has long-standing partnerships with global insurers, mobility operators and motor manufacturers, gathering and interpreting data from connected devices to help organizations manage driver and vehicle risk. Its customers include RSA, Volkswagen Financial Services, Nationwide Insurance (USA), Allianz, Europcar and Zipcar. The Group also owns and operates multi award-winning telematics insurance broker Carrot Insurance and TGG employs over 250 people across four international offices.

TGG Group CEO Nick Corrie said the partnership creates a capital structure that will “enable us to more rapidly execute our ambitious growth plans, both organic and by acquisition, to become the global leader providing connected, data-driven technology solutions for the insurance and shared mobility markets.”

Corrie stated that the investment from THCP will accelerate the deployment of the next generation of IMS’s cloud-based, device-agnostic single telematics platform, DriveSync 6, and enable the deployment of new solutions and services for customers. “We will also be continuing to invest in innovation, such as our pioneering work in Road Usage Charging in the US and developing IP around connected car services that our customers in UBI and mobility will jointly benefit from, particularly as we continue to see the convergence of these two markets.”

He added: “This is a real milestone for TGG, as we celebrate a decade in business. In THCP we’ve found an investment partner that believes in our vision, is very well-aligned culturally and possesses the expertise to help steer the business through what will be an exciting phase of growth. THCP’s solution was unique in the market and matches our ambitions for the future. Worldwide, TGG already connects half a million vehicles and we are aiming to increase this figure exponentially over the coming years.”

Joe Jefferies, UK coverage at THCP, who will join TGG’s Board, said: “Trak Global is our first investment in the IoT and telematics space, and during our detailed diligence into the sector it quickly became clear that TGG was the stand-out performer. The combination of management team strength and vision, as well as the company’s relentless focus on forming true partnerships with their customers, made for a compelling investment case. We are delighted to be Trak Global’s partners in what we expect to be a period of exceptional and transformative growth. It is another example of Three Hills’ commitment to backing ambitious founders and management teams who are looking for an alternative solution to traditional private equity structures.”

 


 

About Trak Global Group (TGG)

Trak Global Group (TGG) is the UK-based holding company and owner of IMS (Insurance & Mobility Solutions), a global provider of connected car solutions, services, and analytics for insurers, mobility operators and governments, and Carrot Insurance (Carrot), a B2C telematics insurance broker in the UK and digital insurance platform available to insurers internationally. More info at www.trakglobalgroup.com

 

About IMS (Insurance & Mobility Solutions)

IMS (Insurance & Mobility Solutions), part of Trak Global Group (TGG), is a global provider of connected car solutions, services, and analytics to insurers, mobility operators, OEMs and governments. IMS is the developer of the cloud-based IMS DriveSync® connected car platform which has received industry acclaim for its ability to offer customers a data source-agnostic, multi-device strategy through which a multitude of B2B and B2C propositions to be taken to market. More info at www.ims.tech.

 

About Carrot Insurance (Carrot)

Carrot Insurance (Carrot) is a wholly-owned subsidiary of Trak Global Group (TGG). In the UK, Carrot is an award-winning B2C telematics insurance provider, but the underpinning platform has now been made available internationally to enable any organization seeking to take a UBI proposition to market to do so quickly and with a high degree of configurability. By using feedback, messaging and rewards to incentivize better driving behaviors, the Carrot approach is proven to help reduce claims frequency – this in turn reduces insurance premiums for policyholders, increases customer satisfaction, and drives carrier profitability. More info at www.carrotinsurance.com and www.ims.tech.

 

About THCP

THCP is an innovative investment house delivering enhanced risk-adjusted returns to investors, by investing through preferred capital instruments.

THCP currently manages approximately €1.2 billion AUM. Since inception, THCP have invested approximately €750 million in successful mid-market companies across Europe, collectively valued at €3 billion of enterprise value at the time of initial investment.

THCP provides partnership capital and investment support to mid-market companies who want to invest in growth but avoid dilution of ownership and control. This appealing alternative to control-orientated private equity serves a gap in the financing market for the growing number of companies run by outstanding entrepreneurs looking to enter the next phase of growth with their businesses.

THCP portfolio companies include amongst others ACT, Byron, Building Energy, Hunter, Magnaghi Aeronautica, Recycling Lives, Sigma GRP, Tomorrow London and WPI Group.

Visit: www.thcp.eu

 

Media Contact:

 

For UK & European media enquiries, please contact:
Ben Welsh
Certus Communications
benwelsh@certuscc.com
(+44) 07568 382040

 

For North American media enquiries, please contact:
Jennifer Overhulse
St. Nick Media Services
jen@stnickmedia.com
(+1) 859-803-6597

 

Trak Global Group helps raise a record £10,000 for charity at the 13th annual Anoush Cup

On Friday 26th July friends, family and golfers gathered at Branston Golf and Country Club for the 13th annual Anoush Cup which raised £10,000 for Teenage Cancer Trust and UK Youth.

The Anoush Cup began in 2007 and is the annual fundraising charity golf day hosted by The Anoush Memorial Foundation. The foundation was set up by Trak Global Group co-founder Kamran Mahmoudzadeh in memory of his son Anoush Mahmoudzadeh, who tragically lost his life in a car accident at just 18 years old. It has so far supported a number of charitable causes including The Cystic Fibrosis Trust, Breast Cancer Care, Teenage Cancer Trust and UK Youth.

Trak Global Group raises money for charity at the Anoush Cup

Having already raised more than £60,000 since its first edition, the Anoush Cup has proven to be a tremendous success and a great day to honour and remember Anoush whilst raising money for the foundation’s chosen charities.

Trak Global Group staff members rallied up to compete in the 18-hole tournament and support the foundation at the prize-giving event hosted in the evening.

Dave Turnock, International Strategic Account Director at Trak Global Group commented:

This was my 8th Anoush Cup and it was great to see the continued support of players and sponsors. Fortunately, it was not as hot as it was the previous day which was the hottest day of many years! The course was as difficult as ever for me as I only play golf once a year, but as always it was a comical afternoon and more importantly one of our guests who played in our team came 2nd in the overall competition.

The evening was fantastic and it was great to see three colleagues win some interesting prizes in the raffle.”

The first Anoush Cup was held at Aston Wood Golf Club in 2007 and saw 32 friends and family members play and another 30 attend the evening prize giving. Now, 12 years later the cup is supported by a fantastic 91 golfers at the tournament and more than 160 family, friends and colleagues at the evening prize giving.

Trak Global Group is a proud to a sponsor of the event and looks forward to continuing to support The Anoush Memorial Foundation for many years to come.

Developing a Smartphone App to Help Learner Drivers

I’m Andrew Brown-Allan, and I’m the Group Marketing Director at Trak Global Group, a UK company that uses telematics technology to help make the roads safer.

One of our co-founders, Kamran Mahmoudzadeh, tragically lost his 18 year old son Anoush in a road traffic accident over a decade ago, and this has been the ‘moral compass’ that has guided the work we’ve done to improve young driver road safety since our company began.

Over the last 2 years, we’ve been working closely with Highways England, DVSA and driving instructor associations to create a smartphone app for learner drivers, called PaceNotes.

pacenotes

More road-time, less risk

We developed the PaceNotes app to provide learners with a tool that encourages them to spend more time learning to drive. It tracks and shows the amount of time a learner has spent driving on different road types and records the driving conditions they’ve experienced, such as driving in the rain or in the dark.

By tracking the learner’s experience, the app records their driving achievements and highlights the areas they still need to cover. We want to help change learners’ attitudes towards getting on the road as a qualified driver. Most want to pass their test quickly and are unaware of the skills and knowledge needed to be a safe, responsible driver that can only be gained through extended time behind the wheel.

Read the full blog post by Andrew Brown-Allan on the Gov.uk website.

 


 

About Trak Global Group (TGG)

Trak Global Group (TGG) is the UK-based holding company and owner of IMS (Insurance & Mobility Solutions), a global provider of connected car solutions, services, and analytics for insurers, mobility operators and governments, and Carrot Insurance (Carrot), a B2C telematics insurance broker in the UK and digital insurance platform available to insurers internationally. More info at www.trakglobalgroup.com

 

About IMS (Insurance & Mobility Solutions)

IMS (Insurance & Mobility Solutions), part of Trak Global Group (TGG), is a global provider of connected car solutions, services, and analytics to insurers, mobility operators, OEMs and governments. IMS is the developer of the cloud-based IMS DriveSync® connected car platform which has received industry acclaim for its ability to offer customers a data source-agnostic, multi-device strategy through which a multitude of B2B and B2C propositions to be taken to market. More info at www.ims.tech.

 

About Carrot Insurance (Carrot)

Carrot Insurance (Carrot) is a wholly-owned subsidiary of Trak Global Group (TGG). In the UK, Carrot is an award-winning B2C telematics insurance provider, but the underpinning platform has now been made available internationally to enable any organization seeking to take a UBI proposition to market to do so quickly and with a high degree of configurability. By using feedback, messaging and rewards to incentivize better driving behaviors, the Carrot approach is proven to help reduce claims frequency – this in turn reduces insurance premiums for policyholders, increases customer satisfaction, and drives carrier profitability. More info at www.carrotinsurance.com and www.ims.tech.

 

Media Contact:

 

For UK & European media enquiries, please contact:
Ben Welsh
Certus Communications
benwelsh@certuscc.com
(+44) 07568 382040

 

For North American media enquiries, please contact:
Jennifer Overhulse
St. Nick Media Services
jen@stnickmedia.com
(+1) 859-803-6597

Video Interview: Andrew Brown-Allan, Marketing Director of Carrot and Trak Global Group, explains the firm’s North American acquisition of IMS and what’s next.

Trak Global Group Marketing Director Andrew Brown-Allan spoke to Insurance Business Magazine about the acquisition of IMS, expansion into North America and the role of the Carrot Insurance brand.


About Trak Global Group (TGG)

Trak Global Group (TGG) is the UK-based holding company and owner of IMS (Insurance & Mobility Solutions), a global provider of connected car solutions, services, and analytics for insurers, mobility operators and governments, and Carrot Insurance (Carrot), a B2C telematics insurance broker in the UK and digital insurance platform available to insurers internationally. More info at www.trakglobalgroup.com

 

About IMS (Insurance & Mobility Solutions)

IMS (Insurance & Mobility Solutions), part of Trak Global Group (TGG), is a global provider of connected car solutions, services, and analytics to insurers, mobility operators, OEMs and governments. IMS is the developer of the cloud-based IMS DriveSync® connected car platform which has received industry acclaim for its ability to offer customers a data source-agnostic, multi-device strategy through which a multitude of B2B and B2C propositions to be taken to market. More info at www.ims.tech.

 

About Carrot Insurance (Carrot)

Carrot Insurance (Carrot) is a wholly-owned subsidiary of Trak Global Group (TGG). In the UK, Carrot is an award-winning B2C telematics insurance provider, but the underpinning platform has now been made available internationally to enable any organization seeking to take a UBI proposition to market to do so quickly and with a high degree of configurability. By using feedback, messaging and rewards to incentivize better driving behaviors, the Carrot approach is proven to help reduce claims frequency – this in turn reduces insurance premiums for policyholders, increases customer satisfaction, and drives carrier profitability. More info at www.carrotinsurance.com and www.ims.tech.

 

Media Contact:

 

For UK & European media enquiries, please contact:
Ben Welsh
Certus Communications
benwelsh@certuscc.com
(+44) 07568 382040

 

For North American media enquiries, please contact:
Jennifer Overhulse
St. Nick Media Services
jen@stnickmedia.com
(+1) 859-803-6597

The latest OEM strides, statistics and governmental moves in the race to clean up vehicular emissions

With a swathe of voices and hearts ranging from governments, global corporations and NGOs to smaller campaign groups and sympathetic individuals having set their hopes on the 2015 Paris Agreement to irreversibly begin reducing CO2 emissions, short-term wishes were significantly dampened earlier this month. Many hoped that the 1.6% increase in global carbon emissions during 2017 was a blip, but data produced by a research team at the University of East Anglia points to a rise of over 2% this year, sadly signalling an all-time peak.

Governmental feet-dragging, the accelerated economic growth of developing countries and America’s indefatigable demand for SUVs and light-duty trucks are often mooted as responsible factors by commentators like Glen Peters from the Center for International Climate Research and Professor Greg Keoleian from the University of Michigan1.

While the agreement reached at this month’s ‘COP24’ 24th Conference of the Parties to the United Nations Framework Convention on Climate Change to cut CO2 emissions from new cars by 37.5% and new vans by 31% across 28 EU member states by 2030 has already been branded ‘totally unrealistic based on where we stand today’ by the European Automobile Manufacturers’ Association (ACEA)2, it must still surely be perceived in a positive light.

The European Parliament originally pushed for a target of 40% by 2030, but with Germany’s mighty car industry having lobbied for CO2 reduction targets of no more than 30%, the agreed level of 37.5% should certainly be welcomed, and with OEMs launching ever more capable EVs3, such as Hyundai’s Kona Electric, it’s conceivable that a significant shift towards electric motoring amongst fleets and private drivers could happen as imminently as within half a dozen years.

The bonus multiplier4 agreed at COP24 will see car-makers incentivised financially to focus ever more impetus on EV development and sales, and although the mechanism will cut out once EVs form 5% of a member country’s fleet, it’s unarguably a positive step – although it will be essential that charging infrastructures must be able to keep up with the pace. In a document entitled ‘Technical update of the non-paper (Sept 2018) on Cars/Vans CO2 Regulation proposal: Additional assessment of higher ambition levels for the targets and ZLEV benchmarks’4b published in Q4 2018, the European Commission identifies, based on the latest available figures from 2017, that Sweden has at least a 5.20% zero or low-emissions vehicle (ZLEV) fleet, while the UK sat at 1.78%, surprisingly higher than Germany, on 1.41%.

Away from these macro-level moves, Trak Global Group remains ever attuned to more regional and specific environmental developments that could have an effect on our fleet and other clients and partners, with vehicles contributing to 18% of global CO2 emissions5, alongside cement6 that is interestingly responsible for a sizeable 8%, and livestock a dominant 18% as well, according to United Nations figures7.

Hyundai’s findings a little earlier this year were very encouraging in terms of highlighting the British appetite for caring more for the environment, with 74% of the 2,000 respondents acknowledging the need to and actively seeking to change their lifestyle to a greener one. Granted, the Korean brand’s brave belief in the hydrogen fuel cell vehicle (FCV) market as a viable fuel may be tough to convince the public over initially, with the NEXO model costing from £65,000 despite its remarkably clean credentials such as eliminating 99.9% of PM2.5 pollutants8.

Fascinatingly, it’s not just nasties expelled from vehicle exhausts that contribute to global emissions concerns, the government’s Clean Air Strategy identifying automotive components including brakes and tyres as emitters of harmful micro plastics that pollute the world’s air and waters from sewers and streams to rivers and seas – a focus of course increasingly highlighted by Blue Planet, Sky and a host of other TV programmes and media coverage. The University of Plymouth estimates that up to 10% of micro plastics in the marine environment come from tyre wear9. Bosch Mobility Solutions is one entity making efforts to reduce brake dust and soot, and although the company’s iDisc component with a hard tungsten carbide coating is currently too expensive to achieve mainstream adoption with any rapidity, automotive components’ prices invariably become more affordable in time.

Much environmental impetus is, of course, focussed on continuous improvements to alternative fuels and drivetrains, from hydrogen fuel cell vehicles (FCV) and compressed natural gas (CNG) to fully electric vehicles (EV), and in today’s frenetic world of ‘gig economy’ couriering, it was greatly encouraging to see the Logistics Emissions Reduction Scheme (LERS) report that greenhouse gas emissions across their 134 members’ 88,000-vehicle fleet fell by 4% during 2017, with LERS-registered vehicles typically emitting 13% less g/km of CO2 than the industry average while enjoying 13% better fuel efficiency10. It was impressive to learn that a sizeable 44% of LERS members’ vans are Euro-6 compliant and therefore ready for entering London’s Ultra Low Emissions Zone (ULEZ) and the UK’s forthcoming spread of Clean Air Zones (CAZ).

Somewhat concerning, though, were the results of a survey commissioned by Northgate Vehicle Hire, which identified that 29% of the 677 van-operating businesses surveyed are not familiar with what Clean Air Zones actually are11. Their fleet director Tim Bailey’s description of the finding as worrying is appreciable, with CAZ introduction just over the horizon in early 2020, against a backdrop of diesel marginalisation and too few strides in electric light commercial vehicles to encourage an accelerated uptake.

OVO Energy is an exciting company to watch when it comes to electric vehicle technology, and with new vehicle-to-grid charging technology anticipated to become widespread, it was unarguably exciting that December saw OVO announce its debut V2G charger installation in a domestic home12. Currently just for Nissan LEAF drivers, which is a little disappointing, the charger operates dynamically and either sells energy back to the grid from the stationery car during periods of high demand for electricity, or stores power in the vehicle’s battery when energy is cheaper, such as during the night.

Further a-field, Norwegians would be justified in feeling somewhat baffled by the UK government’s recent decision to significantly limit the scope and financial benefits of the Plug-in Car Grant, whereas in Norway roughly 30% of all new cars are either plug-in hybrids or electric models, compared to the European average of just 2%. The Scandinavian country is aiming for all new cars on sale to be zero-emissions by 2025 as a way of supporting the 2015 Paris climate accord, the government offering substantial subsidies, low taxation and other incentives for drivers willing to adopt alternative fuels13. It can’t be denied, though, that Norway is a much wealthier nation than many others.

From the perspective of an EV-advocating country like Norway, the U.S car market is probably even more perplexing, with Donald Trump recently stating boldly that ‘all-electric is not going to work’ in response to GM’s latest restructuring14. With 6% of cars sold in China reported as being electric, it’s clear that the States has much progress to make, which will itself require a change in thinking from legislators right up to the president. With one million EVs now having been sold in the U.S, a market in which Trak Global Group’s presence has been further strengthened by our recent acquisition of Intelligent Mechatronics Systems Inc., voices including the Edison Electric Institute predict that EV uptake is poised to proliferate across the States, making it somewhat frustrating that the White House recently mooted the desire to eliminate subsidies for electric cars15, the current cap of $7,500 per model halved16.

Concluding our latest environmental snapshot relating to the automotive industry on a technological note, the quiet operation of PHEVs and EVs is leading to increasing efforts by OEMs to give their electric cars conventional engine sounds or other innovations to protect pedestrians and other potentially vulnerable people and vehicles. Jaguar17, for example, is equipping its all-electric I-PACE SUV with an Audible Vehicle Alert System (AVAS) that functions at speeds of up to 20km/h after which wind and tyre noise kick in, AVAS emitting an audible yet discrete soundtrack that can only be heard outside the vehicle.

CleanTechnica18 has an interesting alternative view on such efforts to make electric cars noisy, though, quite rightly stating that near-silent operation was originally promoted as one of EVs’ advantages but is now seemingly being annulled to protect pedestrians, cyclists et al in urban areas where electric vehicles are most popular.

“Lawmakers are looking at safety from the wrong direction. We want to protect pedestrians, particularly vision-limited pedestrians, but the best answer is not the technological equivalent of a cow bell on EVs”, comments CleanTechnica. Instead, they point to autonomous emergency braking (AEB) and pedestrian detection and collision mitigation systems as a more effective answer.

With automotive firms tirelessly developing ever-greener powertrains and spawning other technological breakthroughs, while legislators and public health bodies fight for increasingly stringent targets to be agreed and met, it’s fair to say that the industry is as dynamic and exciting as ever from an environmental perspective and we will continue to provide updates on our blog.

 

Sources:
1. https://www.wired.co.uk/article/cop24-report-global-carbon-emissions-on-the-rise-in-20187
2. https://www.euractiv.com/section/transport/news/eu-agrees-on-37-5-co2-reduction-for-cars-by-2030/
3. https://electrek.co/2018/12/18/eu-deal-cut-emission-new-cars-boost-electric-cars/
4. https://www.politico.eu/article/eu-reaches-car-and-van-co2-emissions-deal/
4b. https://ec.europa.eu/clima/sites/clima/files/transport/vehicles/docs/co2_cars_vans_non_paper_technical_update_en.pdf
5. https://www.automotiveworld.com/news-releases/bosch-trialing-fully-renewable-diesel-fuel/
6. https://www.bbc.co.uk/news/science-environment-46455844
7. https://cleantechnica.com/2018/12/16/animal-agriculture-antibiotic-resistant-bacteria-pstd-biodiversity-loss-world-hunger/
8. http://www.greenfleet.net/news/23102018/one-five-brits-worry-about-air-pollution-finds-hyundai-research
9. http://www.greenfleet.net/features/21092018/non-exhaust-emissions-vehicles-produce
10. https://fta.co.uk/media/press-releases/2018/december/logistics-sector-makes-headway-on-road-to-zero-con
11. http://www.greenfleet.net/features/03122018/vans-operating-clean-air-zones
12. https://www.ovoenergy.com/ovo-newsroom/press-releases/2018/december/ovo-installs-first-domestic-vehicle-to-grid-charger-in-customers-home.html
13. https://ca.news.yahoo.com/norway-sees-boom-electric-cars-095110747.html
14. https://electrek.co/2018/12/18/donald-trump-electric-vehicles-mistake/
15. https://www.vox.com/2018/12/4/18119858/trump-electric-vehicle-tax-credit-tariff-suv
16. https://www.nbcnews.com/business/autos/trump-s-threats-pull-electric-car-subsidies-could-kill-u-n947141
17. https://media.jaguar.com/news/2018/10/sound-jaguar-i-pace-protects-road-users
18. https://cleantechnica.com/2018/12/17/electric-vehicles-loud-pipes/

British telematics leader Trak Global Group acquires North America’s leading insurance telematics business, IMS

Trak Global Group (TGG), a British telematics company that provides the technology for almost 25% of usage-based insurance policies in the UK, is to acquire Canada’s Intelligent Mechatronic Systems Inc (IMS), based in Waterloo Region and operating globally, for an undisclosed fee.

The deal will give Trak Global Group, which is also Europe’s leading telematics supplier to the vehicle rental and mobility sector – significant and immediate scale in the North American market. The combined Group will connect over half a million vehicles and generate revenues of well over $50 million USD.

Trak Global Group CEO Nick Corrie, who will continue to lead the Group, said:

“We are thrilled to have acquired IMS.  It is a breakthrough deal for Trak Global Group, one which we fought hard to secure. It significantly accelerates our growth as a worldwide leader in data services for the connected car. We already operate in the UK, Continental Europe and the Middle East, and acquiring IMS gives us expanded capability globally plus extended scale and presence in the North American market, which will fuel further rapid growth.’’

He said: “IMS has a great reputation for class-leading solutions across North America as well as in Continental Europe where, like us, they partner with a number of leading insurers and mobility providers. Their data science capabilities and Drivesync® Connected Car platform, which will be used across the Group, combined with our focus on building engaging customer propositions around cutting-edge technologies, means we are now one of the global leaders in insurance telematics and connected mobility.

The newly-expanded Group will comprise around 300 people, a third of whom are based in North America, providing services to a customer base which includes a long list of insurance and mobility companies as well as major vehicle manufacturers. The Group will realign all its international activities within connected insurance under the IMS brand, and its services to the mobility market under the Trak Global brand. Nick Corrie explained that “the highly complementary nature of the two businesses means there are also significant cost synergies and single platform efficiency gains that make the combination so compelling. We are bringing together the best of Canada with the best of Britain.” 

Local operational responsibility for IMS will remain with ‘’an incredibly capable, committed and experienced management team, he said, adding: “The R&D team at IMS is a center of global excellence for innovation; it has created – and had granted – a number of significant and valuable patents that present lots of opportunities for the future, not just in insurance but across mobility in general.”

Corrie cited the examples of IMS’s patented mobile telematics app and road usage charging services, which will gain in importance as electric car adoption grows globally, and is being piloted in several US states before being enacted into law. “Owning IMS, and several patented applications of telematics, will enable Trak Global Group to shape and commercialize the infrastructure required as mobility across the world evolves and changes. We want to help Canadian mobility technology lead the way worldwide.” 

“Harnessing all the additional capabilities and scale that IMS brings is a highly significant milestone in our journey. We are all incredibly excited by the potential of the combined Group to increase our scale and prominence through 2019 and beyond.”

 


 

About Trak Global Group (TGG)

Trak Global Group (TGG) is the UK-based holding company and owner of IMS (Insurance & Mobility Solutions), a global provider of connected car solutions, services, and analytics for insurers, mobility operators and governments, and Carrot Insurance (Carrot), a B2C telematics insurance broker in the UK and digital insurance platform available to insurers internationally. More info at www.trakglobalgroup.com

 

About IMS (Insurance & Mobility Solutions)

IMS (Insurance & Mobility Solutions), part of Trak Global Group (TGG), is a global provider of connected car solutions, services, and analytics to insurers, mobility operators, OEMs and governments. IMS is the developer of the cloud-based IMS DriveSync® connected car platform which has received industry acclaim for its ability to offer customers a data source-agnostic, multi-device strategy through which a multitude of B2B and B2C propositions to be taken to market. More info at www.ims.tech.

 

About Carrot Insurance (Carrot)

Carrot Insurance (Carrot) is a wholly-owned subsidiary of Trak Global Group (TGG). In the UK, Carrot is an award-winning B2C telematics insurance provider, but the underpinning platform has now been made available internationally to enable any organization seeking to take a UBI proposition to market to do so quickly and with a high degree of configurability. By using feedback, messaging and rewards to incentivize better driving behaviors, the Carrot approach is proven to help reduce claims frequency – this in turn reduces insurance premiums for policyholders, increases customer satisfaction, and drives carrier profitability. More info at www.carrotinsurance.com and www.ims.tech.

 

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