Insurance and broking group Markerstudy has bought app-based telematics broker Drivology.
The acquisition will add over 6,000 policyholders to Markerstudy’s retail division.
Drivology specialises in smartphone app-based car insurance. The company’s app monitors how safe a driver is to determine motor insurance premiums.
The app determines driver safety by measuring speed, acceleration, braking, consistency, types of roads, times of day and familiarity with roads.
Drivology is an appointed representative of Insurance Factory, already part of the Markerstudy group.
Markerstudy divisional head Ross Barrington said: “Drivology will add significant value to our existing offering, complementing our telematics administration services and supporting our strategy for growth.
“We are keen to attract more telematics business and consider app-led propositions play a valuable role in car insurance offerings.”