Telematics insurtech ThingCo has signed a new three-year agreement with the Acorn Group, a specialist non-standard motor insurance provider in the UK.
This extended partnership aims to support Acorn’s brands, including Acorn Insurance and Carrot. The group operates under several other brands – including Motorcade, Flag, Rapid and Briefly – and works with a network of 200 brokers.
According to Acorn Group’s head of telematics, Daniel Ward, gaining deeper insight into driver behaviour is essential for managing claims performance.
“Working with ThingCo, we have seen just how effective telematics data is in helping us manage risk whilst, at the same time, giving our policyholders vital insight to improve their own driving styles and safety,” Ward said.
Wider market conditions in the non-standard insurance space play a role in this expanded collaboration. A recent survey found that while 79% of UK brokers have observed increased enquiries for non-standard insurance, confidence in the market’s ability to provide effective solutions has declined.
That said, only 38% of brokers expressed strong confidence in this area, down from 65% in a previous survey.
“The very specific needs of Acorn Group have provided the perfect foundation for us to demonstrate the power of telematics data,” ThingCo COO Martin Williams said. “Working together, as like-minded partners, and using the wealth of telematics experience in the ThingCo business, we have adapted and tailored our solutions.”
The evolution of telematics itself has also played a role. ThingCo’s CEO, Mike Brockman, previously noted that improvements in data processing, connectivity and sensor technology have positioned telematics for broader application across personal lines.
In 2024, Acorn Group reported a 41% increase in gross written premium (GWP), reaching £742 million. The group also maintained a combined operating ratio below 90%, a result attributed to underwriting discipline and operational efficiency.
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