ThingCo, the insurtech business created by telematics pioneer, Mike Brockman has achieved the accolade of being named in the InsurTech100 list for 2020. It is the third year in a row that ThingCo has made the InsurTech 100 list. This year’s mark of distinction is all the more significant as despite the challenges created by the pandemic, 2020 has seen ThingCo deliver its solar powered, Voice and AI enabled, next generation telematics solution into the insurance market, supported by market-leading Cloud based data processing capabilities.
Mike Brockman, CEO of ThingCo said: “In a ‘normal’ year this would be a fantastic achievement but I feel doubly proud given what we have managed to accomplish in 2020 – and knowing that we were selected from a longlist of 1200 insurtech contenders.
“Our solar-powered telematics device is now being adopted by insurance providers in the UK, across Europe and as far as Asia. If there is one bright light from this pandemic, it has helped the market think differently about telematics and understand its true potential to support customers and make insurance something they feel empowered by.”
The Third annual InsurTech100 list created by specialist research firm FinTech Global, comprises the global tech companies and most innovative solution providers addressing the digital transformation challenges and opportunities within insurance. The finalists were recognised for their innovative use of technology to solve a significant industry problem, or to generate cost savings or efficiency improvements across the insurance value chain.
Nearly $17bn has been invested in InsurTech companies since the beginning of 2017, according to figures published by FinTech Global. As a result, this year’s process to identify the leading 100 companies in the InsurTech space was more competitive than ever.
Pay-per-mile car insurance By Miles, end-to-end insurance chatbot Spixii and subscription-based pet insurance Waggel were also named in the global insurtech listing.