29th March 2018
Trak Global Group launches Carrot Insurance’s New Driver in Canada
Trak Global Group, the UK’s leading telematics technology company, has launched a Carrot-branded young driver product in Canada.
The smartphone app based product “Drive with Carrot”, is being exclusively distributed via InsureMy Inc., a Calgary-based insurance broker, who are a market leader in the management and delivery of data based insurance products (motor insurance is largely sold via brokers in Canada).
Nick Corrie, Trak Global Group CEO, commented:
“InsureMy has invested an unparalleled amount of effort into bringing New Driver to life in Canada and this just solidifies our choice to work with such a dedicated provider, working toward our common goal.”
InsureMy President, Hugh McTavish, said:
“The partnership with Trak Global just made sense, they’ve implemented this program in the UK and countries across the globe with stellar results. We set out to change the way we approach insurance, to be more than just a policy provider in the eyes of our customers. Bringing this type of ground breaking change to the driver safety and the new driver experience in Canada is just the beginning.”
Nick explained that in the UK, Carrot’s newly-qualified customers are 42% less likely to be involved in a road traffic accident, than those who do not have a telematics product, and this track record has huge appeal to Canadian parents.
“The legal driving age varies from province to province. In the most populous provinces, Ontario, Quebec and Alberta, young people can start learning to drive at 14 (Alberta) or 16 (Ontario and Quebec), though most full licenses are granted at around 18 years of age.”
“Canadians are tech savvy and we think they’ll like our app-based ‘carrot, not stick’ philosophy, where drivers with positive quarterly scores get cash rewards. In the UK Carrot has handed back over £4m in rewards to its customers in the last five years, and the incentive programme has proved to be a major draw for the UK brand.”
Nick revealed that the scoring concept and coaching elements of this new young driver product had proved popular in research among Canadian parents, who tend to be more ‘hands on’ where their teenage children are concerned than their British counterparts. Nick continued:
“With the policyholder’s permission, parents of Carrot’s new drivers can download and log into the app so they can review the driver’s performance. Parents get peace of mind even when they are not physically in the car, and they like the way we use fact-based data to steer young drivers towards improved behaviour on the road.”
“It helps to take the emotion out of the equation and reduces stress in the young driver-parent relationship, when a child gets behind the wheel for the first time after passing their test.”
As well as the UK, TGG are also working with partners across Europe and have eyes for the huge US market.
“Canada is an important market for us in its own right, but the learnings we take from our partnership with InsureMy will give us the means to extend the product into the USA in due course.”
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