25th July 2016
Tim Holliday to advise Trak Global on insurer partnerships and mass market telematics.
Tim Holliday, the former Zurich UK personal lines MD and chief underwriting officer, has joined telematics technology company Trak Global as a non-executive director.
Holliday will work with Trak Global CEO Nick Corrie to develop Trak Global’s insurer proposition as the Crewe-based business, which also owns Carrot (insurance for young drivers), seeks further growth.
Nick Corrie said: “We are selling more young driver policies through our Carrot brand or via our insurance partners than ever before but capturing the mass market via telematics-based insurance is the big prize and our priority for the next phase.”
He explained that Holliday’s deep experience of running personal lines at Zurich would help Trak further improve its standing with insurers. “Thanks to telematics, a large number of new factors, such as smoothness of driving, speed limit infringements, road type usage, time of day, mileage and road familiarity, enables insurers to see behaviours which very strongly correlate to risk.”
“With Tim’s help we can structure our proposition to act on these factors during the course of the policy, in a way that helps our insurer partners protect and enhance their underwriting profit.”
Corrie explained that Holliday will head up a world class data analysis team, because “we know the ability to offer forensic scoring analysis will be a key element of competitive success in the mass market.”
Commenting on his new role, Holliday said: “In my time at Zurich Trak Global was a key partner and I was hugely impressed by their ambition and their desire to make the relationship with their insurers a productive one.
‘The mass market presents a huge opportunity. More experienced drivers want to avoid crashes and pay sensible premiums, and I am convinced telematics can meet these twin objectives. With their better driver app, Trak Global is well-placed to support those drivers, and I am looking forward to playing my part in helping them to realise their long term strategic ambitions.”
Tim Holliday brief biography
Tim joined Eagle Star, latterly Zurich Insurance Ltd, in 1996 and became Chief Underwriting Officer for the UK in 2006. Tim spent seven years in that role before being appointed MD, Personal Lines and Endsleigh Insurance in 2013, a role he fulfilled up until he left Zurich in 2015.
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