ingenie to partner with the RAC to create black box insurance product for all ages
Richard King, Founder and CEO
I am delighted to announce today ingenie’s involvement in a new joint venture between the RAC and Quindell.
This partnership represents the first time ingenie’s telematics proposition will be made available to all drivers, not just 17 to 25 year olds.
Our business will expand to offer the benefits of black box car insurance to the RAC’s 2.5 million members who own circa 4 million vehicles representing around 15% of the UK’s private motor market.
The new deal, forged as a company called Connected Car Solutions Limited, has been led by ingenie’s parent company Quindell. The opportunity it presents illustrates the reasons why ingenie wanted to become part of the Quindell Group.
Through this innovative collaboration, Quindell and ingenie technology will be used to create a new telematics insurance product that’s branded by the RAC, one of the most trusted brands in the UK, and made available to its 2.5 million members.
We will share our world-leading expertise in telematics, driving behaviour algorithms and customer engagement, to create one of the most compelling telematics products on the market.
Existing ingenie customers will be unaffected, but will benefit from an upgraded service and major enhancements to our existing app being developed in conjunction with Quindell Himex to offer more functionality.
We’ve always delivered great information and feedback on driving to improve driving behaviour via the ingenie app.
But our next generation app will feature additional benefits such as more detailed driving feedback and scores, location based services and the ability to connect and compare driving with friends and family.
And in the event of a breakdown, the RAC will be able to automatically detect the problem with the car and send out the appropriate resource to assist, saving time and improving the safety and efficiency of the service.
ingenie will become the first insurer to provide policies to customers alongside the RAC via the new telematics product. It provides ingenie with the opportunity to more than double the number of policies sold by the entire telematics sector to date in 2015 alone, so more people will be able to benefit from our service and be rewarded for driving well.
The new RAC telematics product and updated ingenie app will be made available in July. It is the first in a series of UK opportunities that will see ingenie expand its telematics customer base substantially, along with its international expansion to Canada and USA.