Insurtech start-up, ThingCo, has become one of the first disruptors in the insurance sector to exploit the capabilities of Amazon Web Services (AWS) for a fully serverless implementation.
ThingCo launched in January 2018 to build the eco system around next generation telematics devices using AI, ADAS and Intelligent Voice to reduce claims cost and cut road accidents.
The decision to deploy AWS managed services will enable the business, founded by telematics pioneer, Mike Brockman, to scale without being hindered by systems limitations or cost issues as well as providing enhanced security.
Jonathon Valentine, Chief Technology Officer at ThingCo explains: “The way we operate will be as innovative as the solutions we offer – that’s the huge benefit of starting from scratch.
“Once our device is out in the market we will be ingesting, processing & enriching huge volumes of information, including trips, accidents & video footage, and feeding this back in real time to insurers, claims professionals, brokers, legal firms and other businesses we choose to partner with. By using AWS managed services we will have a fully serverless implementation based on compute time, at the scale we need it, when we need it. This means our IT costs are per trip processed, per app visit for example.
“With AWS managing the underlying structure, the security of our platform will be enhanced, taking advantage of AWS’s security knowledge and resources. In addition, with no servers to manage, we won’t require the same level of systems operations resource.
“In essence, by deploying the capabilities of AWS we remove the hassle and constraints of running our own servers and can promise a fully scalable and cost effective platform for our partners. We are building the next generation of telematics devices on the next generation of computing platform.”