Always good to make the InsurTech top 50 List;
The U.K.’s telematics expertise is being recognised globally – ThingCo, the ‘out of the box’ telematics insurtech, who has made telematics work successfully for brokers and insurers across the U.K., has been placed at 13 in the Insurtech50 ranking this week.
In addition, following a ‘speed dating’ event with insurers in the U.S., ThingCo has been selected for InsurTech NY’s Growth-Stage Accelerator program cohort in 2023. This is set to help the business expand into North America, building on ThingCo’s growth in the U.K. since its launch in 2018.
Founded by Mike Brockman CEO and Jonathon Valentine CIO, ThingCo’s telematics solutions put the customer experience front and centre. Unlike most other telematics solutions providers, ThingCo helps insurance providers attract, on-board and engage customers by extracting the most value from 20 billion plus telematics datapoints collected since launch. This is helping to make journeys safer, improve loss ratios and cut fraud.
ThingCo’s Theo device is self-installed very easily, solar powered so there are no wires to connect and delivers highly granular data to ThingCo for insurance providers to use in underwriting, risk mitigation and at claim.
The Insurtech 50 ranking follows a 1,000-strong reader vote. Then an expert judging panel featuring leaders at Insurtech UK, Innovate Finance, techUK, 11:FS, KPMG & BusinessCloud made choices from the shortlist. A combination of reader votes and judge selections decided the final ranking with ThingCo being placed at number 13.
Jonathon Valentine, CIO said: “2023 has been an incredible year for our business. We now have data flowing into our platform from over 100,000 vehicles. The more data we gather, the greater intelligence we can give back to insurance providers. Fundamentally, ThingCo is changing both the perception and the reality of what telematics can deliver when it’s done correctly.”