The latest from ThingCo, who have been shortlisted in the Insurtech50 for 2024;
ThingCo, the ‘out of the box’ telematics Insurtech developing next generation telematics solutions, has been placed at number 32 in the latest InsureTech50 ranking. The final InsurTech 50 rankings highlight the most innovative companies, as decided by a combination of reader votes and expert judge selections.
Founded by Mike Brockman CEO (above) 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 billions of telematics datapoints collected since launch. This is helping to make journeys safer, improve loss ratios and cut fraud.
ThingCo’s Theo device is very easily self-installed, 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 the point of accident or claim. Using the latest Amazon Web Services IoT serverless technology, ThingCo’s state-of-the-art, fully encrypted, telematics platform is capable of scaling quickly enough to continue offering real-time data analysis, in any country and regardless of volume.
“Using our deep understanding of insurance and telematics, the ThingCo team has developed a suite of revolutionary products and services to address the weaknesses in the current market,” Mike Brockman commented. “2024 has been another important and highly successful year for ThingCo. To be listed in the InsurTech 50 once again is testament to the innovative solutions we build and our entire team’s commitment to continually improving the service we provide to insurance providers and brokers.
“With data now flowing into our platform from thousands of vehicles monthly, we are collating even greater intelligence than ever before. All of this means we can provide insurers with better insights to help reduce risk and loss ratios, leading to lower premiums without impacting profitability.”
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