UK-based specialty insurance firm Policywise has reportedly partnered with telematics insurtech ThingCo to speed up its auto insurance claims process.
Under the partnership, Policywise will provide its policyholders with ThingCo’s solar powered, AI and voice enabled telematics solution, Theo.
This device, which is said to functions like a black box, is said to collect ‘highly accurate, second-by-second data’ to support car accident claims.
It can be attached to the windscreen of a car and is compatible with any vehicle that has a windscreen.
When an accident occurs, the device activates a smart FNOL solution based on the driving data as well as voice recordings.
Policywise CEO and founder Simon Jackson said: “The team at ThingCo have devised an innovative and discreet device that does a whole lot more than collect high quality data.
“They have understood that fundamentally to make telematics work, the device needs to be super easy for the customer to install, good to look at and offers features like crash detection and voice that take customer support to a whole new level whilst protecting the insurer interests.”
ThingCo COO Martin Williams added: “Policywise is amongst a growing band of brokers switching on to next generation telematics to create greater engagement, expand their market and reduce claims loss ratios for their insurer partners.
“ThingCo was created with a mission to completely reinvent telematics, making customer appeal the first priority. It is fantastic to see the hard work paying off as our device becomes a central component of new broker propositions.”
In August this year, ThingCo secured a contract with Freedom Brokers to be part of telematics proposition, Freedom to Drive.