Announcing the deal, Trak Global said it has begun a new ‘proof of concept’ arrangement with BMW Financial Services (GB) Limited. According to the telematics technology firm, the offer, called “MINI Ready Fuel Go Insurance”, will be available to eligible customers across the UK.
“Customers can arrange a year’s insurance for themselves plus two named drivers, with a telematics solution for younger customers using a black box installed in the car or an app (essentially a black box in a smartphone),” explained Ed Rochfort, head of the insurance broking business at Trak Global. “For more experienced drivers a traditional non-telematics policy is used.”
Trak Global will provide product design, telematics technology, and scoring expertise, as well as access to its capacity panel, policy administration, and customer interaction services.
“I am delighted to partner with Trak Global Group for this important new development, which we expect to have a positive impact on sales,” commented Steve Cann, general manager of insurance solutions at BMW Group Financial Services in the UK.
Rochfort claimed: “Younger drivers using our telematics products are 42% less likely to have an accident in their first year of driving when compared to a traditional motor insurance product, and we want to bring the same exceptional road safety record to MINI customers starting out on their driving career.”
The telematics solutions provider, the largest in the UK, operates in six countries and has more than 250,000 assets deployed.
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