2nd December 2016
Trak Global caps record year with two more awards
High-flying telematics technology company Trak Global Group has rounded off a stellar 2016 by picking up two more insurance industry awards.
At the Insurance Times annual awards dinner, in London on 1 December, the fast growing business was awarded Customer Champion of the Year and Excellence in Motor Broking, both for its Carrot young driver brand.
Carrot MD Ed Rochfort said the business had hit upon a winning combination of lower premiums and active risk management to support young drivers, who are at high risk of having an accident in their early years on the road.
“Our ethos is to reward our customers for good driving, and help them improve when they need it, said Ed, who added: “We call it a carrot, not stick approach, and we’ve handed back well over £2m of cash rewards back to our customers since Carrot launched in 2012.”
“What’s more, our risk management techniques have helped to reduce claims incidence among Carrot customers by 40%, which has in turn improved the profitability of our book of business for our insurer partners.”
“In previous years, young drivers were priced out of the car insurance market by punitive premiums. Telematics has changed all that. It’s a classic example of how the application of new technology has been responsible for changing an entire market.”
Ed said the awards were a tremendous recognition for how far the Carrot brand has travelled in the last 18 months. “We are ending 2016 on a high, and have ambitious plans to further grow our market presence next year and beyond,” he said.
- October 2019 (2)
- September 2019 (4)
- August 2019 (5)
- July 2019 (4)
- June 2019 (5)
- May 2019 (4)
- April 2019 (5)
- March 2019 (1)
- February 2019 (2)
- January 2019 (6)
- December 2018 (5)
- November 2018 (3)
- Trak Global Group completes significant minority investment from Three Hills Capital Partners
- Road usage charging to solve our transportation funding dilemma
- Depression, stress and anger can make drivers more likely to have accidents, according to new YouGov research to support Mental Health Awareness Day
- Carrot Insurance wins ‘Best Customer App’ at Insurance Times Tech & Innovation Awards
- Leon Hurst appointed CEO of Mobility at Trak Global Group
- The continuing rise in relay theft, OEMs’ responses and trackers’ effective role