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- Why is telematics only for young drivers?
- That is a misconception, although that’s obviously the most applicable sector with high premiums and high risk just standing out to be mitigated. But actually, the data that can be derived from a telematics box can be applicable and of value for all drivers. For example, our partner By Miles has recently launched a mileage only policy – you only pay for the miles that you drive. This is using just one piece of telematics data: highly accurate and immediate tracking of your precise journey and distance covered. This may well be relevant to older drivers, perhaps. And there are of course other ways of using the telematics data in an ever more granular fashion to help make car insurance fairer
- Why doesn’t REDTAIL sell insurance?
- Well, I should say that we aren’t in any way qualified to be an insurance company, and besides, we prefer to think of ourselves as a solution partner to insurers and brokers. By which I mean we don’t pretend to be actuaries. What we do do is work with players in the insurance value chain (including but not limited to insurers, brokers, underwriters and intermediaries) to help our data inform their data. We leave the other clever stuff to the experts
- TSPs are ten a penny – what’s different about REDTAIL?
- To a certain extent you are right, but good ones aren’t! To answer the question: we are unique in our heritage with Plextek, a thirty year old, innovative engineering design house. This means that our way of working is about both problem solving and defining a unique solution for that customers’ customer – vanilla is rarely good enough. We love answering difficult questions!
- Secondly, we are obsessed with quality – of sensors, of signals and of the data derived – in order to deliver the best value data to our customers
- Thirdly, we have an end to end solution, from device/firmware through connectivity (SIMs/APIs) to data (raw and managed) to portals and B2B/B2C Apps
Got all that? And testimony to all of that is how long customers have stayed with us – which in a competitive market and environment is tribute enough!