Insurance broker Policywise has selected InsurTech ThingCo to support a mass market telematics solution.

Policywise will be offering customers ThingCo’s solar powered, artificial intelligence, voice-enabled Theo device.

Theo can collect accurate, second-by-second data on a par in quality with a fixed black box, with immediate voice support in an accident. The device comes with its own SIM card and a mobile app that tracks journeys and controls driving data with personal driving scores.

Customers can be connected within three days of policy creation – “slashing” the industry average time “by over half”, added the broker.

Drivers attach the wireless Theo device to the windscreen of their car. It is compatible with any vehicle and does not rely on power from it.

Policywise will also get ThingCo’s encrypted, server-less telematics platform to support underwriting and claims using real-time data. A first-notice-of-loss solution, based on driving data and voice recordings, will activate following a collision, speeding up the claims process for the customer and insurers.

Simon Jackson, chief executive of Policywise, 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's interests.”

Martin Williams, chief operating officer of ThingCo, 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.”

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