11th November 2015

Trak Global extends mass market capability to Spain with senior hire

Trakglobal, the leading UK telematics business that also owns the Carrot insurance brand, has hired Luis Peña from Mapfre to spearhead the introduction of its mass-market telematics capability to Spain, Southern Europe and Latin America.

Mr Peña, who will be managing director Southern Europe and Latin America, spent 20 years in a variety of senior roles, including director of strategic planning, at the Spanish insurance giant before joining Crewe-based Trakglobal, which recently launched the UK’s first mass market telematics app, Better Driver, through Carrot.

Luis said: “Digital engagement, quantified-self (gathering personal data to influence lifestyle choices), telematics and usage-based insurance (UBI) will be the next disruptive shifts in the insurance industry. The real impact of telematics goes beyond technology and into the entire customer experience. I have found in Trak a team of like-minded people with the same vision and who are already making this new digital world a reality.”

He explained that Trak Global has recently signed a new partnership agreement with Spanish company Drive and Win to export mass-market telematics to Spain. “Drive and Win will customise our UK experience through Carrot for the Spanish market. It is a key step in taking Carrot and Trak Global’s business model international. We are talking to capacity providers in Spain, and expect to launch Drive and Win during the first half of 2016.”

Nick Corrie, Trak Global’s Managing Director, said: ”Luis’s decision to leave Mapfre after nearly 20 years and join us is a massive coup for Trakglobal. Luis was responsible for launching Y Car, Mapfre’s telematics young drivers product in 2007, which gained over 80,000 customers and it’s fair to say that he ‘wrote the book’ on usage-based insurance in Spain.”

Nick added: “Luis’s appointment marks our intent to grow our mass market telematics business beyond the UK. UBI knows no boundaries, and our technology is applicable to markets across Europe and beyond. Our partnership with Drive and Win is a key step forward in our ambition to give drivers across Europe the opportunity to benefit from mass market telematics, namely lower premiums, reduced accident frequency and rewards for good driving behaviour.”

Luis Peña is the second senior hire for Trakglobal in recent months, after RSA’s ex UK telematics director Bob Skerrett joined the business as MD insurance division in August. “Bob is responsible for business development in Northern European markets, while Luis will spearhead our growth across Southern Europe and Latin America” Nick said.