3rd May 2017
Trakm8’s contract for self-fit insurance telematics devices extended by Direct Line Group
Trakm8, the AIM-listed telematics and data insight provider, is pleased to announce it has been awarded a contract extension by Direct Line Group, the UK's leading motor vehicle insurance company.
The contract extension covers the provision of T10 hardware and data services supplied to Direct Line that was first announced by Trakm8 in January 2014. The new extension will extend the contract until April 2020.
Trakm8 have over 110,000 devices reporting in insurance applications built from a zero base three years ago and Direct Line are a significant part of this.
John Watkins, Executive Chairman of Trakm8 commented:
"We have been working with Direct Line for 3 years providing insurance telematics solutions. We were the first company to offer a plug in self fit device in volume in the UK and the success of the product has resulted in this contract being extended for a further 3 years. We are delighted to continue this relationship as the demand increases. This contract provides additional visibility for our expectations for the financial year and beyond."
Dan Freedman, Director of Motor Insurance commented:
"We have been pleased to extend the contract with Trakm8 for a further 3 years. We expect to continue to deploy market leading telematics solutions in conjunction with them and the Floow, as Apps and data analytics provider."