Motor insurtech Ticker has collaborated with insurance distributor and underwriter Abacai Group to increase its capacity and introduce new levels of pricing sophistication, making connected insurance available to a wider market.
Following the completion its Series A funding round earlier this year which was led by Eos Venture Partners, Ticker is increasing its capacity to support the launch of new offerings, with products for low mileage drivers, convicted drivers, and electric vehicles.
A better understanding of risk for customers and insurance partners
Richard King, founder, and CEO of Ticker, said: “It’s just over two years since Ticker launched and, as well as making insurance more affordable and rewarding safe driving, we’re also using the connected vehicle data to provide a far better understanding of risk for both our customers and our insurance partners.
“This new partnership will not only allow us to grow market share but also accelerate the development of new data sources, machine learning, and artificial intelligence. Our next chapter will be fueled by our capital strength, continuous innovation, and an absolute commitment to delivering customer value,” he added.
King believes that Ticker and Abacai share a similar vision, which is the right combination of connected technology and underwriting discipline will create the ultimate winners in the UK motor market. “Our partnership will focus on building products that are clear, fair, and transparent using the latest technology as an enabler for, simply, better insurance,” he said.