This is the eighth broker partnership the telematics insurtech has made in 10 months
Independent broker, Bedford Insurance has chosen ThingCo to support its first telematics propositions in personal and commercial motor insurance.
The partnership will see Bedford Insurance under the Rightsure brand, offer its customers ThingCo’s solar powered telematics device Theo which collects driving data.
The hope is that this will reduce friction by providing a more convenient data collection method, as well as offering voice-enabled assistance to drivers in the event of an accident through artificial intelligence.
James Bashford, ThingCo’s head of business development, said: “We are delighted to have secured this contract with Bedford Insurance Group, particularly as this is the broker’s first move into telematics and will therefore benefit from our years of experience in driving data for pricing and risk mitigation.
“The volume of broker business we are now supporting is taking Theo into the mainstream and this latest collaboration highlights the great progress ThingCo has made over the past year.”
Solving cost and data issues
ThingCo will provide a full-service solution to Bedford Insurance to make help them enter into telematics insurance as smoothly, this includes the development of terms and conditions, customer on-boarding and claims support.
The insurtech was founded by telematics pioneer Mike Brockman, who also founded InsuretheBox.
Mark Hare, Bedford Insurance Group’s managing director said: “ThingCo has solved many of the cost and data accuracy issues that have previously held us back from developing telematics insurance propositions.
“The Theo device is truly ground-breaking for the insurance market, and we were won over by the combination of technology and the hands-on approach by the ThingCo team, to ensure we and our customers fully maximise the benefits from day one.”
Founded in 1965, Bedford Insurance aims to find customers the right cover at a competitive price. The broker operates under the RightSure brand.