Telematics company Trak Global Group has signed a new partnership with leading digital rewards platform Giftcloud for its young driver brand Carrot, enabling the brand to offer their customers an unrivalled choice of rewards.
Carrot MD Ed Rochfort said customers for their New Driver and Better Driver products will be able to login to a Carrot-branded rewards store powered by Giftcloud to pick up treats for safe driving. The scheme is also being extended to Hughes Insurance in Northern Ireland, which uses TGG technology for their customers.
Ed said: “We are the first telematics company to work with Giftcloud on their platform, and we are very excited by the range of treats we are able to give our customers. It brings our pioneering ‘Carrot not Stick’ approach to young driver insurance right up to date.”
Ed explained that new driver customers earn points for good driving, and at the end of the week those points are banked in each customer’s personalised dashboard and turned into cash.
“Each point is worth a penny, and drivers will earn varying amounts depending on that week’s score. It’s all laid out on the Carrot online dashboard, which is easy to update and use. It’s much more engaging than our old Carrot Card system, and we’ve found that the more customers engage with their personalised dashboard, the more their weekly scores improve.”
Jake Mazan, Partnerships Director at Giftcloud said: “Partnering with our digital rewards platform will enable Trak to offer their customers unrivalled access to a range of reward mechanisms. We’re thrilled to be working with Trak to reward Carrot’s young drivers in this way”.
Ed added: “Carrot is totally focused on improving driving behaviour for our young people and reducing accidents. Our research shows that Carrot customers are 42% less likely to have an accident using our black box than drivers of similar age who don’t.”
Ed said that customers across all retail sectors now expect to be rewarded for their loyalty, and insurance should be no different. “Insurance is a consumer business, yet the industry has not focused on loyalty thanks to the commoditised nature of the market.”
“We have already given £3.5m back to our customers since Carrot launched in 2012, and through our new treats package with Giftcloud, our customers will be able to benefit even more in the future.”