Trakm8 Holdings plc (AIM: TRAK), a leading telematics and data supplier to global markets, is pleased to announce that it has been awarded an initial three-year contract by LexisNexis Risk Solutions, a leading data and analytics provider for the insurance and automotive markets.
The contract is for launch in the UK in the current financial year. Trakm8 will provide its latest generation ‘plug in’ and ‘fitted to’ vehicle hardware. Data supplied is based on the Trakm8connectedcare solution to monitor driver behaviour.
John Watkins, Executive Chairman of Trakm8, commented: “We are delighted to have LexisNexis Risk Solutions as a customer for Trakm8’s insurance telematics solutions. We have been providing telematics to insurance companies for some years, but LexisNexis Risk Solutions is one of the pioneers in this market. This contract is expected to be a significant one and provides additional visibility for our expectations for our revenues in the second half of the year.”
Keith Binley, Managing Director of LexisNexis Risk Solutions, Insurance, UK and Ireland, said: “LexisNexis Risk Solutions provides risk insights to the insurance and automotive markets to help our customers inform their decisions and engage consumers. Our focus is on delivering new driving analytics that provide our insurance customers with better consumer price segmentation and risk management using near-real-time driving data. We look forward to building a strong partnership with Trakm8 to help bring the benefits of usage-based insurance (UBI) to millions of drivers and make it simple for insurers to launch or develop mass-market UBI products.”