First telematics-based insurance solution for UK market25 August 2017
Masternaut is partnering with Telefleet Insurance to launch the first telematics-based insurance solution for the UK market.
Telefleet is the first commercial fleet insurer to fully integrate telematics, insurance products and claims management. It brings together telematics hardware and software for light commercial vehicles, as well as company cars, underwritten by an A+ rated insurer.
Michael Walton, Telefleet’s business development director, says: “We are delighted to be partnering with Masternaut, the UK’s largest telematics provider, using their technology to improve fleet risk.” The deal, he adds, will reduce the cost of claims and, in turn, result in lower premiums for customers.
Dhruv Parekh, CEO of Masternaut, describes the move as “a natural extension” of its products and services.
“We recently conducted a controlled study on over 9,000 vehicles, showing that our products reduce speeding by 53%. Thanks to this partnership, we can now reward our customers’ commitment to driver safety with lower insurance premiums,” adds Parekh.
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