Barney Thompson, business unit director for data specialist Trakm8’s insurance division, looks at the support on-hand to the insurance industry during the COVID-19 crisis.
“As part of the government’s response to the global COVID-19 pandemic, all non-essential workers have been told to stay at home. The impact of this guidance will be felt across many sectors, not least the telematics industry, which is powered by teams of highly-skilled technicians.
“Professionally installed devices comprise a large proportion of the telematics Motor Insurance market; a market that, until government restrictions are eased, will be heavily constrained. In their place, self-install solutions will have an important role to play in bridging the telematics gap to ensure policy cover can be given.
“Trakm8 has a proven self-install device which is already used by many of the UK’s leading insurers. Designed with the end-user firmly in mind, Trakm8’s solution is incredibly user-friendly, recognising that, now more than ever, businesses need fuss-free solutions to keep data flowing.
“At Trakm8, we want to help the insurers and brokers keep data flowing while the lockdown continues in a cost-effective manner, with our proven self-install devices helping to maintain cash flow, a crucial concern at a time of economic uncertainty.
“In the face of truly unprecedented circumstances, Trakm8 is offering its self-install devices to insurances and brokers as a short-term solution until installers can get back to work, without the need for a long-term commitment. The data collected from Trakm8’s devices can be sent directly to insurers usual data platform, or displayed back to them via a simple portal
“Understanding the urgency with which many businesses needs to replace their data flow, Trakm8 can get organisations up and running with our self-installed solutions within seven days, with no integration and we have removed our normal upfront costs to help insurers and brokers move swiftly.
“It is a challenge that Trakm8 is uniquely positioned to understand and, ultimately, solve. Trakm8’s solution meet businesses need for efficient, cost-effective access to the data and rich insights that are delivered by self-installed telematics devices, and which can be easily installed by the end user. These devices provide the insights which can best position insurers to maintain their cash flow during these challenging times.”
For more information on Trakm8’s offering, please visit: https://www.trakm8.com