Acorn Group extends telematics insurtech partnership with new three-year deal

Telematics insurtech ThingCo has renewed its partnership with the Acorn Group in a new three-year contract.

The partnership enables the Acorn Group to develop targeted risk management strategies from ThingCo’s real-time data collection and geo-spatial analytics.

Daniel Ward, head of telematics at Acorn Group, said: “As a specialist, non-standard insurance provider offering motor policies for new drivers, it is vital that we have the greatest depth of intelligence in driver behaviour to manage our loss ratios.

“Working with ThingCo, we have seen just how effective telematics data is in helping us manage risk whilst, at the same time, giving our policyholders vital insight to improve their own driving styles and safety.”

How it works

The new three-year contract that supports the Acorn and Carrot brands.

Through the deal, customers are sent ThingCo’s solar powered proposition Theo, which is a voice-enabled telematics device to self-fit to the windscreen of their car.

The real-time data collected supports driver safety and delivers pricing based on driving behaviour, including detailed risk management solutions along with enhanced intervention models.

In the event of an accident, via the integrated voice technology, the device asks the customer if they need any assistance.

It also ensures a smooth claims experience through ThingCo’s first notification of loss process.

Martin Williams, chief operating officer at ThingCo, said: “The very specific needs of Acorn Group have provided the perfect foundation for us to demonstrate the power of telematics data.

“Working together, as like-minded partners, and using the wealth of telematics experience in the ThingCo business, we have adapted and tailored our solutions, giving the Acorn Group significant competitive edge in the specialist insurance space.

“Now with the partnership firmly in place for the next three years, we can further apply our analytical expertise for new products and markets Acorn is planning for the future.”