22 March 2022
Trakm8 Holdings plc
('Trakm8' or the 'Company')
Contract Award
Trakm8 Holdings plc (AIM: TRAK), the global telematics and data insight provider is pleased to announce that it has been awarded a contract with Adiona Technologies to provide data and devices for Adiona's insurance propositions. The partnership will also see Trakm8 and Adiona working alongside Duck Creek Technologies and World Programming.
Initial analysis of the Trakm8 journey data, confirms the level of detail and real-time frequency will support Adiona's 4 core pillars of; Pricing and Selection, Risk Pool Management, Crash and Claim and Customer Engagement.
This contract is expected to commence writing insurance policies in Autumn 2022.
John Watkins, Executive Chairman, commented: "We are delighted to be working with Adiona as they launch their highly innovative AI based telematics insurance products. Adiona aim to disrupt the insurance market with their approach to telematics based solutions with a customer centric focus being a key driver."
Paul Harvey, CEO of Adiona Technologies said "We have already experienced Trakm8's agile and responsive support in preparing early prototypes and look forward to creating exciting solutions together."
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For further information:
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Trakm8 Holdings plc |
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John Watkins, Executive Chairman |
Tel: +44 (0) 167 543 4200 |
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Jon Edwards, CFO |
www.trakm8.com |
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Arden Partners plc (Nominated Adviser & Broker) |
Tel: +44 (0) 20 7614 5900 |
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Paul Shackleton, Corporate Finance Simon Johnson, Corporate Broking |
www.arden-partners.com |
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About Trakm8
Trakm8 is a UK based technology leader in fleet management, insurance telematics, connected car, and optimisation. Through IP owned technology, the Group uses AI data analytics collected from its installed base of telematics units to fine tune the algorithms that are used to produce its' solutions; these monitor driver behaviour, identify crash events and monitor vehicle health to provide actionable insights to continuously improve the security and operational efficiency of both company fleets and private drivers.
The Group's product portfolio includes the latest data analytics and reporting portal (Trakm8 Insight), integrated telematics/cameras/optimisation, self-installed telematics units and one of the widest ranges of installed telematics devices. Trakm8 has over 255,000 connections.
Headquartered in Coleshill near Birmingham alongside its manufacturing facility, the Group supplies to the Fleet, Optimisation, Insurance and Automotive sectors to many well-known customers in the UK and internationally including the AA, Saint Gobain, EON, Iceland Foods, Parts Alliance, Direct Line Group, ByMiles and Ingenie.
Trakm8 has been listed on the AIM market of the London Stock Exchange since 2005. Trakm8 is also recognised with the LSE Green Economy Mark.
www.trakm8.com / @Trakm8
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